Qorvo (NASDAQ:QRVO) SVP Sells $250,000.00 in Stock

Qorvo, Inc. (NASDAQ:QRVO) SVP Paul Fego sold 2,500 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the sale, the senior vice president directly owned 71,038 shares of the company’s stock, valued at approximately $7,103,800. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Qorvo Trading Up 1.7%

Shares of Qorvo stock traded up $1.80 during mid-day trading on Tuesday, hitting $108.23. The stock had a trading volume of 1,379,313 shares, compared to its average volume of 1,283,143. The firm has a 50-day moving average of $84.98 and a two-hundred day moving average of $84.11. Qorvo, Inc. has a 12-month low of $74.03 and a 12-month high of $109.03. The company has a quick ratio of 2.46, a current ratio of 3.24 and a debt-to-equity ratio of 0.46. The firm has a market cap of $9.53 billion, a P/E ratio of 29.90, a price-to-earnings-growth ratio of 1.66 and a beta of 1.42.

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

Institutional Investors Weigh In On Qorvo

Hedge funds and other institutional investors have recently modified their holdings of the company. Winnow Wealth LLC acquired a new stake in shares of Qorvo in the 3rd quarter valued at $27,000. Stance Capital LLC acquired a new stake in shares of Qorvo in the 3rd quarter valued at $27,000. Smartleaf Asset Management LLC raised its holdings in shares of 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 purchasing an additional 231 shares in the last quarter. Sound Income Strategies LLC raised its holdings in shares of 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 purchasing an additional 343 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Qorvo in the 3rd quarter valued at $36,000. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Mizuho restated an “underperform” rating and issued a $66.00 price objective (down from $70.00) on shares of Qorvo in a report on Monday, April 20th. KeyCorp restated a “sector weight” rating on shares of Qorvo in a report on Wednesday, January 28th. Craig Hallum restated a “buy” rating and issued a $120.00 price objective on shares of Qorvo in a report on Wednesday, May 6th. Benchmark restated a “hold” rating on shares of Qorvo in a report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Three research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $96.63.

Qorvo Company Profile

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.