Insider Selling: Qorvo (NASDAQ:QRVO) CEO Sells $2,899,407.28 in Stock

Qorvo, Inc. (NASDAQ:QRVO) CEO Robert Bruggeworth sold 28,744 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $100.87, for a total transaction of $2,899,407.28. Following the sale, the chief executive officer directly owned 325,546 shares of the company’s stock, valued at approximately $32,837,825.02. This represents a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Qorvo Trading Up 2.5%

Shares of NASDAQ:QRVO opened at $102.84 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.68 and a current ratio of 3.54. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 1.81 and a beta of 1.45. Qorvo, Inc. has a 1-year low of $74.92 and a 1-year high of $109.49. The company has a 50 day moving average price of $92.09 and a 200 day moving average price of $89.47.

Qorvo (NASDAQ:QRVO) last posted its quarterly 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 for the quarter, compared to analysts’ expectations of $743.28 million. During the same quarter in the prior year, the company earned $0.92 earnings per share. The firm’s 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 anticipate that Qorvo, Inc. will post 6.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on QRVO. UBS Group increased their price target on Qorvo from $91.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Citigroup cut 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qorvo in a research note on Friday, July 24th. Wall Street Zen upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. Finally, TD Cowen reissued a “hold” rating on shares of Qorvo in a research report on Wednesday, July 29th. Three investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Qorvo has an average rating of “Hold” and an average target price of $94.00.

Key Stories Impacting Qorvo

Here are the key news stories impacting Qorvo this week:

• Positive Sentiment: Qorvo’s latest quarterly results exceeded expectations: earnings per share came in at $1.64 versus the $1.11 consensus estimate, while revenue of roughly $784.8 million surpassed forecasts of $743.3 million. The earnings beat provides support for the stock, although revenue declined 4.2% year over year.
• Positive Sentiment: Institutional ownership remains high at approximately 88.6%, with major investors including BlackRock, California State Teachers’ Retirement System and Bank of America reportedly adding or initiating sizable positions. Such buying can reinforce investor confidence and provide demand for QRVO shares.
• Positive Sentiment: Qorvo’s exposure to radio-frequency solutions for drones, satellite communications and industrial IoT may offer longer-term growth opportunities in bandwidth, connectivity and power-efficiency markets.
• Neutral Sentiment: Brokerages maintain an average “Hold” recommendation, with three Buy ratings, fourteen Holds and one Sell. The average price target is $94, below recent trading levels, suggesting analysts see limited near-term upside despite the earnings beat. Qorvo Given Average Recommendation of Hold
• Neutral Sentiment: Skyworks Solutions’ extension of exchange offers for Qorvo notes keeps the companies’ merger plans in focus. The potential transaction could be a catalyst, but the extension also leaves timing, financing and completion risks unresolved.
• Negative Sentiment: Several executives recently sold shares. CEO Robert Bruggeworth sold 28,744 shares for approximately $2.9 million, while SVPs Steven Creviston, Paul Fego and Frank Stewart also reduced their holdings. The combined sales total roughly $4.4 million and could weigh on sentiment, though they may reflect routine diversification rather than a change in business outlook. Qorvo Insider Selling

Institutional Investors Weigh In On Qorvo

Several hedge funds have recently bought and sold shares of the business. Smartleaf Asset Management LLC grew its stake in Qorvo by 215.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 231 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Qorvo in the second quarter worth approximately $32,000. Advisory Services Network LLC purchased a new stake in shares of Qorvo in the third quarter worth approximately $36,000. Elevation Wealth Partners LLC boosted its holdings in shares of Qorvo by 301.0% during the second quarter. Elevation Wealth Partners LLC now owns 413 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 310 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new position in Qorvo during the second quarter valued at approximately $43,000. 88.57% of the stock is owned by hedge funds and other institutional investors.

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.