James L. Klein Sells 2,211 Shares of Qorvo, Inc. (QRVO) Stock
Qorvo, Inc. (NASDAQ:QRVO) VP James L. Klein sold 2,211 shares of Qorvo stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $74.76, for a total value of $165,294.36. Following the completion of the transaction, the vice president now directly owns 42,604 shares of the company’s stock, valued at approximately $3,185,075.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of Qorvo, Inc. (NASDAQ:QRVO) traded down $1.68 during trading hours on Thursday, reaching $70.10. The company’s stock had a trading volume of 3,573,500 shares, compared to its average volume of 1,504,629. Qorvo, Inc. has a fifty-two week low of $52.05 and a fifty-two week high of $81.20. The company has a current ratio of 3.80, a quick ratio of 2.71 and a debt-to-equity ratio of 0.20. The stock has a market cap of $9,126.69, a price-to-earnings ratio of 17.94, a price-to-earnings-growth ratio of 1.21 and a beta of 1.02.
Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.52. Qorvo had a negative net margin of 0.59% and a positive return on equity of 10.77%. The firm had revenue of $821.60 million during the quarter, compared to analyst estimates of $810.47 million. During the same quarter in the prior year, the firm earned $1.29 EPS. The business’s revenue for the quarter was down 5.0% compared to the same quarter last year. sell-side analysts anticipate that Qorvo, Inc. will post 4.74 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Penserra Capital Management LLC purchased a new stake in shares of Qorvo during the 3rd quarter valued at about $130,000. Federated Investors Inc. PA increased its position in shares of Qorvo by 4.0% during the 2nd quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock valued at $147,000 after purchasing an additional 90 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Qorvo by 79.9% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,252 shares of the semiconductor company’s stock valued at $159,000 after purchasing an additional 1,000 shares during the last quarter. Advisor Group Inc. increased its position in shares of Qorvo by 5.1% during the 2nd quarter. Advisor Group Inc. now owns 2,584 shares of the semiconductor company’s stock valued at $164,000 after purchasing an additional 126 shares during the last quarter. Finally, Global X Management Co. LLC increased its position in shares of Qorvo by 400.9% during the 2nd quarter. Global X Management Co. LLC now owns 2,795 shares of the semiconductor company’s stock valued at $177,000 after purchasing an additional 2,237 shares during the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on the company. J P Morgan Chase & Co set a $88.00 price target on Qorvo and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Drexel Hamilton reaffirmed a “buy” rating and issued a $95.00 price target on shares of Qorvo in a research report on Thursday, November 2nd. Northland Securities lowered Qorvo from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 2nd. Craig Hallum lowered Qorvo from a “buy” rating to a “hold” rating and lowered their price target for the stock from $78.00 to $71.00 in a research report on Thursday, November 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $84.00 price target on shares of Qorvo in a research report on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $76.74.
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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