Qorvo, Inc. (NASDAQ:QRVO) VP Sells $401,640.00 in Stock
Qorvo, Inc. (NASDAQ:QRVO) VP Steven E. Creviston sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $66.94, for a total transaction of $401,640.00. Following the completion of the sale, the vice president now owns 114,733 shares in the company, valued at $7,680,227.02. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Qorvo, Inc. (NASDAQ:QRVO) traded down 0.03% on Tuesday, reaching $66.98. 909,357 shares of the company’s stock traded hands. The firm’s market cap is $8.51 billion. The stock’s 50 day moving average is $73.65 and its 200 day moving average is $66.60. Qorvo, Inc. has a 52-week low of $48.28 and a 52-week high of $79.34.
Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Wednesday, May 3rd. The semiconductor company reported $0.74 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.74. Qorvo had a negative net margin of 0.55% and a positive return on equity of 10.39%. The company had revenue of $643 million for the quarter, compared to the consensus estimate of $632.12 million. During the same period last year, the company earned $1.04 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts predict that Qorvo, Inc. will post $5.60 EPS for the current fiscal year.
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Hedge funds have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. increased its stake in Qorvo by 49.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,664 shares of the semiconductor company’s stock worth $114,000 after buying an additional 552 shares during the period. IFP Advisors Inc increased its stake in Qorvo by 46.7% in the first quarter. IFP Advisors Inc now owns 2,105 shares of the semiconductor company’s stock worth $144,000 after buying an additional 670 shares during the period. NEXT Financial Group Inc increased its stake in Qorvo by 145.6% in the first quarter. NEXT Financial Group Inc now owns 2,321 shares of the semiconductor company’s stock worth $158,000 after buying an additional 1,376 shares during the period. Penserra Capital Management LLC acquired a new stake in Qorvo during the first quarter worth about $191,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in Qorvo by 180.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,800 shares of the semiconductor company’s stock worth $192,000 after buying an additional 1,800 shares during the period. Institutional investors own 96.38% of the company’s stock.
QRVO has been the topic of a number of research reports. Macquarie initiated coverage on shares of Qorvo in a report on Thursday, March 30th. They issued a “neutral” rating and a $70.00 target price on the stock. Zacks Investment Research downgraded shares of Qorvo from a “hold” rating to a “strong sell” rating in a report on Wednesday, June 21st. BidaskClub downgraded shares of Qorvo from a “strong-buy” rating to a “buy” rating in a report on Friday, June 16th. Charter Equity reiterated a “buy” rating on shares of Qorvo in a report on Friday, May 5th. Finally, Raymond James Financial, Inc. initiated coverage on shares of Qorvo in a report on Friday, June 16th. They issued an “outperform” rating and a $87.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $70.00.
Qorvo Company Profile
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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