Qorvo, Inc. (NASDAQ:QRVO) gapped down prior to trading on Thursday . The stock had previously closed at ($71.73), but opened at $0.00. Qorvo shares last traded at $0.00, with a volume of 2609257 shares traded.

Several equities research analysts recently weighed in on QRVO shares. Instinet started coverage on shares of Qorvo in a research report on Wednesday, September 6th. They issued a “neutral” rating and a $75.00 price target on the stock. Craig Hallum restated a “buy” rating on shares of Qorvo in a research report on Wednesday, September 13th. Mizuho restated a “hold” rating and issued a $70.00 price target on shares of Qorvo in a research report on Monday, October 9th. TheStreet cut shares of Qorvo from a “b” rating to a “c” rating in a research report on Wednesday, August 2nd. Finally, KeyCorp restated a “sector perform” rating on shares of Qorvo in a research report on Thursday, September 14th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $73.81.

The company has a market capitalization of $9.46 billion, a P/E ratio of 18.58, a PEG ratio of 1.19 and a beta of 1.03. The company has a current ratio of 3.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.20.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.52. The firm had revenue of $821.60 million during the quarter, compared to analyst estimates of $810.47 million. Qorvo had a negative net margin of 0.59% and a positive return on equity of 10.77%. The business’s revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.29 earnings per share. sell-side analysts predict that Qorvo, Inc. will post 4.83 EPS for the current fiscal year.

In related news, insider Robert A. Bruggeworth sold 4,320 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $68.19, for a total value of $294,580.80. Following the completion of the sale, the insider now directly owns 206,925 shares of the company’s stock, valued at $14,110,215.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Steven E. Creviston sold 6,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $71.34, for a total transaction of $428,040.00. Following the completion of the sale, the vice president now directly owns 120,110 shares of the company’s stock, valued at $8,568,647.40. The disclosure for this sale can be found here. Insiders have sold 67,080 shares of company stock valued at $4,788,693 over the last three months. Insiders own 0.91% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Qorvo by 3.6% in the second quarter. Vanguard Group Inc. now owns 12,549,555 shares of the semiconductor company’s stock worth $794,638,000 after acquiring an additional 430,596 shares during the period. Manning & Napier Advisors LLC purchased a new stake in Qorvo in the second quarter worth about $101,456,000. Strs Ohio lifted its stake 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 acquiring an additional 9,120 shares during the period. UBS Asset Management Americas Inc. lifted its stake 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 acquiring an additional 4,998 shares during the period. Finally, State of Tennessee Treasury Department lifted its stake in Qorvo by 7.1% in the third quarter. State of Tennessee Treasury Department now owns 744,583 shares of the semiconductor company’s stock worth $52,627,000 after acquiring an additional 49,553 shares during the period. 94.12% of the stock is owned by institutional investors.

WARNING: “Qorvo, Inc. (QRVO) Shares Gap Down to $0.00” was first reported by Watch List News and is the sole property of of Watch List News. If you are viewing this news story on another site, it was illegally copied and reposted in violation of United States & international copyright legislation. The correct version of this news story can be viewed at https://www.watchlistnews.com/qorvo-inc-qrvo-shares-gap-down-to-0-00/1676747.html.

About Qorvo

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).

Receive News & Ratings for Qorvo Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qorvo Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.