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.

Hedge funds have recently bought and sold shares of the stock. Aperio Group LLC boosted its holdings in Qorvo by 4.5% in the 3rd quarter. Aperio Group LLC now owns 34,938 shares of the semiconductor company’s stock worth $2,686,000 after buying an additional 1,508 shares during the last quarter. Diversified Trust Co acquired a new stake in Qorvo in the 4th quarter worth about $263,000. Standard Life Aberdeen plc boosted its holdings in Qorvo by 169.6% in the 3rd quarter. Standard Life Aberdeen plc now owns 80,513 shares of the semiconductor company’s stock worth $6,191,000 after buying an additional 50,650 shares during the last quarter. DNB Asset Management AS boosted its holdings in Qorvo by 18.0% in the 3rd quarter. DNB Asset Management AS now owns 16,410 shares of the semiconductor company’s stock worth $1,262,000 after buying an additional 2,500 shares during the last quarter. Finally, Prudential Financial Inc. boosted its holdings 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 buying an additional 508,000 shares during the last quarter. Institutional investors own 94.44% of the company’s stock.

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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About Qorvo

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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