Qorvo (NASDAQ:QRVO) SVP Sells $534,982.50 in Stock

Qorvo, Inc. (NASDAQ:QRVO) SVP Philip Chesley sold 5,487 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 $534,982.50. Following the completion of the sale, the senior vice president owned 44,021 shares of the company’s stock, valued at $4,292,047.50. This trade represents a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Qorvo Stock Performance

Shares of Qorvo stock opened at $96.31 on Friday. The business’s 50 day moving average price is $92.26 and its 200 day moving average price is $88.41. The company has a market cap of $8.50 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 1.41 and a beta of 1.44. 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, Inc. has a one year low of $74.92 and a one year high of $109.49.

Qorvo (NASDAQ:QRVO) last issued 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. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The company had revenue of $784.79 million during the quarter, compared to analysts’ expectations of $743.28 million. During the same period in the prior year, the business earned $0.92 EPS. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, research analysts predict that Qorvo, Inc. will post 6.3 EPS for the current year.

Institutional Investors Weigh In On Qorvo

A number of institutional investors and hedge funds have recently made changes to their positions in QRVO. Jones Financial Companies Lllp increased its holdings in Qorvo by 440.1% in the 1st quarter. Jones Financial Companies Lllp now owns 8,134 shares of the semiconductor company’s stock valued at $589,000 after purchasing an additional 6,628 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Qorvo by 158.7% in the second quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company’s stock valued at $180,000 after purchasing an additional 1,301 shares during the period. First Trust Advisors LP lifted its stake in Qorvo by 56.5% during the second quarter. First Trust Advisors LP now owns 142,503 shares of the semiconductor company’s stock worth $12,100,000 after purchasing an additional 51,475 shares in the last quarter. Marshall Wace LLP acquired a new position in Qorvo during the second quarter worth $428,000. Finally, Cerity Partners LLC purchased a new position in shares of Qorvo during the second quarter worth $327,000. 88.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

QRVO has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Qorvo in a report on Friday, July 24th. Craig Hallum reaffirmed a “buy” rating and set a $120.00 price target on shares of Qorvo in a research report on Wednesday, May 6th. Citigroup decreased their price objective on Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Wall Street Zen upgraded Qorvo from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. Finally, JPMorgan Chase & Co. lifted their target price on Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $94.00.

About Qorvo

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.