Qorvo Inc (NASDAQ:QRVO) was the target of some unusual options trading on Thursday. Traders acquired 5,529 call options on the company. This represents an increase of 868% compared to the typical volume of 571 call options.

In other Qorvo news, insider Robert A. Bruggeworth sold 5,000 shares of the stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $72.65, for a total value of $363,250.00. Following the completion of the sale, the insider now owns 180,572 shares in the company, valued at approximately $13,118,555.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Steven E. Creviston sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $65.00, for a total transaction of $195,000.00. Following the sale, the vice president now owns 67,446 shares of the company’s stock, valued at approximately $4,383,990. The disclosure for this sale can be found here. Insiders sold 24,356 shares of company stock valued at $1,622,941 over the last 90 days. 0.85% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC boosted its position in Qorvo by 207.7% during the 2nd quarter. Millennium Management LLC now owns 1,310,508 shares of the semiconductor company’s stock worth $105,063,000 after acquiring an additional 884,601 shares during the period. Iridian Asset Management LLC CT raised its position in Qorvo by 32.7% during the third quarter. Iridian Asset Management LLC CT now owns 3,408,079 shares of the semiconductor company’s stock valued at $262,047,000 after buying an additional 838,994 shares during the period. Advisors Asset Management Inc. increased its position in Qorvo by 4,338.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 682,949 shares of the semiconductor company’s stock worth $1,282,000 after purchasing an additional 667,562 shares during the last quarter. Prudential Financial Inc. increased its position in Qorvo by 366.5% in the 3rd quarter. Prudential Financial Inc. now owns 646,625 shares of the semiconductor company’s stock worth $49,719,000 after purchasing an additional 508,000 shares during the last quarter. Finally, Rehmann Capital Advisory Group increased its position in Qorvo by 1,736,909.1% in the 3rd quarter. Rehmann Capital Advisory Group now owns 191,071 shares of the semiconductor company’s stock worth $2,485,000 after purchasing an additional 191,060 shares during the last quarter. Institutional investors and hedge funds own 94.29% of the company’s stock.

A number of analysts have recently issued reports on QRVO shares. Morgan Stanley dropped their price objective on shares of Qorvo from $75.00 to $72.00 and set an “equal weight” rating for the company in a report on Wednesday, October 3rd. JPMorgan Chase & Co. set a $98.00 price objective on shares of Qorvo and gave the stock a “buy” rating in a research note on Wednesday, December 12th. Barclays dropped their target price on shares of Qorvo from $95.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 23rd. Cowen restated a “market perform” rating and set a $71.00 price objective (down previously from $75.00) on shares of Qorvo in a research report on Thursday, November 29th. Finally, Needham & Company LLC restated a “buy” rating and set a $92.00 price objective on shares of Qorvo in a research report on Thursday, November 1st. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have assigned a buy rating to the stock. Qorvo currently has a consensus rating of “Hold” and an average target price of $78.17.

QRVO opened at $61.86 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.50 and a quick ratio of 2.48. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 1.14 and a beta of 0.87. Qorvo has a 12 month low of $54.74 and a 12 month high of $86.84.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, October 31st. The semiconductor company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.13. The business had revenue of $884.40 million for the quarter, compared to analyst estimates of $855.57 million. Qorvo had a positive return on equity of 13.65% and a negative net margin of 1.41%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.52 EPS. As a group, sell-side analysts forecast that Qorvo will post 5.32 EPS for the current fiscal year.

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Qorvo Company Profile

Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.

Further Reading: What is the Quick Ratio?

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