Qorvo Inc (QRVO) VP Sells $71,120.00 in Stock
Qorvo Inc (NASDAQ:QRVO) VP Gina Harrison sold 1,016 shares of Qorvo stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $70.00, for a total value of $71,120.00. Following the transaction, the vice president now owns 17,004 shares of the company’s stock, valued at approximately $1,190,280. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
QRVO stock opened at $64.51 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.48 and a current ratio of 3.50. Qorvo Inc has a 12-month low of $54.74 and a 12-month high of $86.84. The stock has a market capitalization of $8.06 billion, a P/E ratio of 13.50, a PEG ratio of 1.30 and a beta of 0.88.
Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Thursday, February 7th. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.30. Qorvo had a return on equity of 14.02% and a net margin of 1.92%. The company had revenue of $832.20 million for the quarter, compared to analysts’ expectations of $819.21 million. During the same period in the previous year, the firm posted $1.69 EPS. Qorvo’s revenue was down 1.6% compared to the same quarter last year. As a group, analysts expect that Qorvo Inc will post 4.96 earnings per share for the current year.
Several equities analysts recently weighed in on QRVO shares. KeyCorp cut their price target on Qorvo from $95.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, November 14th. DA Davidson cut their price target on Qorvo to $72.00 and set a “neutral” rating for the company in a research note on Wednesday, November 14th. BidaskClub lowered Qorvo from a “hold” rating to a “sell” rating in a research note on Thursday, November 15th. Canaccord Genuity lowered Qorvo from a “buy” rating to a “hold” rating and cut their price target for the company from $77.00 to $70.00 in a research note on Friday. Finally, Needham & Company LLC cut their price target on Qorvo to $66.00 and set a “sell” rating for the company in a research note on Thursday, January 3rd. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $75.86.
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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.
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