Qorvo (NASDAQ:QRVO) CFO Grant Brown Sells 5,179 Shares

Qorvo, Inc. (NASDAQ:QRVO) CFO Grant Brown sold 5,179 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $97.50, for a total value of $504,952.50. Following the transaction, the chief financial officer directly owned 49,268 shares of the company’s stock, valued at $4,803,630. The trade was a 9.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Qorvo Price Performance

Shares of QRVO stock opened at $95.70 on Wednesday. The firm has a market cap of $8.44 billion, a P/E ratio of 22.20, a P/E/G ratio of 1.43 and a beta of 1.44. Qorvo, Inc. has a fifty-two week low of $74.92 and a fifty-two week high of $109.49. The business’s 50 day moving average price is $92.25 and its 200-day moving average price is $88.15. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.68 and a current ratio of 3.54.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.53. The firm had revenue of $784.79 million for the quarter, compared to analysts’ expectations of $743.28 million. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The business’s revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, equities research analysts anticipate that Qorvo, Inc. will post 6.3 earnings per share for the current year.

Hedge Funds Weigh In On Qorvo

Several large investors have recently modified their holdings of the stock. Bank of America Corp DE raised its holdings in Qorvo by 801.4% in the first quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company’s stock worth $136,795,000 after buying an additional 1,571,303 shares during the last quarter. LSV Asset Management raised its stake in Qorvo by 2.3% during the 4th quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock valued at $131,452,000 after buying an additional 34,605 shares during the last quarter. M&T Bank Corp increased its position in Qorvo by 3,397.3% during the fourth quarter. M&T Bank Corp now owns 150,173 shares of the semiconductor company’s stock valued at $12,691,000 after acquiring an additional 145,879 shares during the last quarter. Credit Industriel ET Commercial purchased a new stake in shares of Qorvo during the 4th quarter valued at about $5,223,000. Finally, Fieldview Capital Management LLC increased its holdings in Qorvo by 570.1% during the fourth quarter. Fieldview Capital Management LLC now owns 24,352 shares of the semiconductor company’s stock valued at $2,058,000 after buying an additional 20,718 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on QRVO shares. Craig Hallum restated a “buy” rating and issued a $120.00 price objective on shares of Qorvo in a report on Wednesday, May 6th. JPMorgan Chase & Co. lifted their target price on shares of Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. UBS Group boosted their price target on shares of Qorvo from $91.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Wall Street Zen raised shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. Finally, Citigroup cut their price objective on Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $94.00.

Qorvo Company Profile

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo’s product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.