Insider Selling: Qorvo, Inc. (QRVO) VP Sells $201,708.00 in Stock
Qorvo, Inc. (NASDAQ:QRVO) VP James L. Klein sold 2,600 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $77.58, for a total transaction of $201,708.00. Following the completion of the transaction, the vice president now directly owns 42,993 shares in the company, valued at approximately $3,335,396.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Qorvo, Inc. (NASDAQ QRVO) opened at $79.57 on Friday. Qorvo, Inc. has a twelve month low of $49.53 and a twelve month high of $81.20. The company has a market capitalization of $10,104.46, a P/E ratio of 19.87, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a current ratio of 3.80, a quick ratio of 2.71 and a debt-to-equity ratio of 0.20.
Qorvo (NASDAQ:QRVO) last announced its earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.52. Qorvo had a positive return on equity of 10.77% and a negative net margin of 0.59%. The firm had revenue of $821.60 million for the quarter, compared to analysts’ expectations of $810.47 million. During the same quarter in the previous year, the company earned $1.29 earnings per share. The firm’s quarterly revenue was down 5.0% compared to the same quarter last year. analysts expect that Qorvo, Inc. will post 4.74 EPS for the current year.
A number of brokerages have issued reports on QRVO. Nomura began coverage on shares of Qorvo in a report on Tuesday, September 5th. They issued a “neutral” rating and a $75.00 target price on the stock. Northland Securities cut shares of Qorvo from an “outperform” rating to a “market perform” rating in a report on Thursday, November 2nd. BidaskClub raised shares of Qorvo from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Morgan Stanley raised their target price on shares of Qorvo from $68.00 to $69.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. Finally, KeyCorp reissued a “hold” rating on shares of Qorvo in a report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $76.11.
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Qorvo by 3.6% during the second quarter. Vanguard Group Inc. now owns 12,549,555 shares of the semiconductor company’s stock worth $794,638,000 after purchasing an additional 430,596 shares in the last quarter. Ameriprise Financial Inc. grew its position in Qorvo by 4.3% in the third quarter. Ameriprise Financial Inc. now owns 4,657,995 shares of the semiconductor company’s stock worth $329,228,000 after buying an additional 194,106 shares during the last quarter. Manning & Napier Advisors LLC grew its position in Qorvo by 52.5% in the third quarter. Manning & Napier Advisors LLC now owns 2,443,052 shares of the semiconductor company’s stock worth $172,674,000 after buying an additional 840,755 shares during the last quarter. Strs Ohio grew its position in Qorvo by 1.0% in the second quarter. Strs Ohio now owns 885,830 shares of the semiconductor company’s stock worth $56,090,000 after buying an additional 9,120 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in Qorvo by 0.6% in the second quarter. UBS Asset Management Americas Inc. now owns 800,170 shares of the semiconductor company’s stock worth $50,667,000 after buying an additional 4,998 shares during the last quarter. 93.99% of the stock is currently owned by hedge funds and other institutional investors.
Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).
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