Qorvo (NASDAQ:QRVO) Director Peter Feld Sells 1,900,000 Shares of Stock

Qorvo, Inc. (NASDAQ:QRVO) Director Peter Feld sold 1,900,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $101.20, for a total value of $192,280,000.00. Following the completion of the transaction, the director directly owned 5,611,526 shares of the company’s stock, valued at approximately $567,886,431.20. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Qorvo Trading Up 2.8%

Shares of QRVO opened at $102.74 on Wednesday. Qorvo, Inc. has a 1 year low of $74.92 and a 1 year high of $109.49. The company has a current ratio of 3.24, a quick ratio of 2.46 and a debt-to-equity ratio of 0.46. The stock has a 50 day simple moving average of $87.63 and a 200-day simple moving average of $84.71. The stock has a market cap of $9.04 billion, a PE ratio of 28.38, a PEG ratio of 1.56 and a beta of 1.43.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.48. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.The business had revenue of $808.28 million during the quarter, compared to analysts’ expectations of $801.31 million. During the same period in the prior year, the firm posted $1.42 EPS. Qorvo’s quarterly revenue was down 7.0% compared to the same quarter last year. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, sell-side analysts predict that Qorvo, Inc. will post 5.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Barclays raised Qorvo from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $95.00 to $100.00 in a report on Wednesday, April 22nd. Craig Hallum reissued a “buy” rating and issued a $120.00 target price on shares of Qorvo in a report on Wednesday, May 6th. Mizuho reissued an “underperform” rating and issued a $66.00 target price (down from $70.00) on shares of Qorvo in a report on Monday, April 20th. Wolfe Research cut Qorvo from an “outperform” rating to a “peer perform” rating in a report on Friday, April 17th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qorvo in a report on Monday, April 27th. Three investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $96.63.

Institutional Investors Weigh In On Qorvo

A number of hedge funds and other institutional investors have recently bought and sold shares of QRVO. Stance Capital LLC bought a new position in Qorvo in the 3rd quarter valued at $27,000. Smartleaf Asset Management LLC boosted its position in Qorvo by 215.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 231 shares during the last quarter. Sound Income Strategies LLC boosted its position in Qorvo by 952.8% in the 4th quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 343 shares during the last quarter. Advisory Services Network LLC bought a new position in Qorvo in the 3rd quarter valued at $36,000. Finally, Clearstead Advisors LLC boosted its position in Qorvo by 93.3% in the 3rd quarter. Clearstead Advisors LLC now owns 431 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 208 shares during the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

About Qorvo

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo’s product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.