Barclays analyst Blayne Curtis maintained a Buy rating on Qorvo (QRVO) on May 21 and set a price target of $70. The company’s shares closed yesterday at $60.20.
According to TipRanks.com, Curtis is a 4-star analyst with an average return of 8.0% and a 57.1% success rate. Curtis covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, Smart Global Holdings Inc, and Quantenna Communications.
Currently, the analyst consensus on Qorvo is a Moderate Buy with an average price target of $76.47, implying a 27.0% upside from current levels. In a report issued on May 8, Craig-Hallum also reiterated a Buy rating on the stock with a $85 price target.
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Based on Qorvo’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $61.52 million. In comparison, last year the company had a GAAP net loss of $12.5 million.
Based on the recent corporate insider activity of 103 insiders, corporate insider sentiment is negative on the stock. Most recently, in February 2019, Ralph Quinsey, a Director at QRVO sold 209,349 shares for a total of $14,447,540.
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Qorvo, Inc. engages in the provision of core technologies and radio frequency solutions for mobile, infrastructure, and aerospace or defense applications. It operates through the following segments: Mobile Products and Infrastructure & Defense Products.
