Insider Selling: Qorvo (NASDAQ:QRVO) VP Sells 4,714 Shares of Stock

Qorvo, Inc. (NASDAQ:QRVOGet Free Report) VP Gina Harrison sold 4,714 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $471,400.00. Following the completion of the transaction, the vice president owned 24,429 shares in the company, valued at approximately $2,442,900. The trade was a 16.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Gina Harrison also recently made the following trade(s):

  • On Tuesday, May 19th, Gina Harrison sold 956 shares of Qorvo stock. The shares were sold at an average price of $95.00, for a total value of $90,820.00.

Qorvo Stock Up 1.7%

Shares of QRVO traded up $1.80 during mid-day trading on Tuesday, reaching $108.23. The company’s stock had a trading volume of 1,379,313 shares, compared to its average volume of 1,283,143. Qorvo, Inc. has a 12-month low of $74.03 and a 12-month high of $109.03. The stock has a market cap of $9.53 billion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 1.66 and a beta of 1.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.24 and a quick ratio of 2.46. The company’s 50 day moving average is $84.98 and its 200 day moving average is $84.11.

Qorvo (NASDAQ:QRVOGet Free Report) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.69 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $801.31 million. During the same quarter in the prior year, the business 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. Equities analysts anticipate that Qorvo, Inc. will post 5.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Zacks Research downgraded Qorvo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Benchmark restated a “hold” rating on shares of Qorvo in a research note on Wednesday, January 28th. Wolfe Research downgraded Qorvo from an “outperform” rating to a “peer perform” rating in a research note on Friday, April 17th. Piper Sandler restated a “neutral” rating on shares of Qorvo in a research note on Wednesday, January 28th. Finally, Stifel Nicolaus dropped their price target on Qorvo from $88.00 to $85.00 and set a “hold” rating on the stock in a research note on Wednesday, January 28th. Three equities 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $96.63.

Read Our Latest Stock Analysis on Qorvo

Institutional Trading of Qorvo

A number of hedge funds have recently added to or reduced their stakes in QRVO. Jones Financial Companies Lllp lifted its holdings in shares of Qorvo by 440.1% in the 1st quarter. Jones Financial Companies Lllp now owns 8,134 shares of the semiconductor company’s stock valued at $589,000 after buying an additional 6,628 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Qorvo by 158.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company’s stock valued at $180,000 after buying an additional 1,301 shares during the period. First Trust Advisors LP lifted its holdings in shares of Qorvo by 56.5% in the 2nd quarter. First Trust Advisors LP now owns 142,503 shares of the semiconductor company’s stock valued at $12,100,000 after buying an additional 51,475 shares during the period. Marshall Wace LLP acquired a new stake in shares of Qorvo in the 2nd quarter valued at approximately $428,000. Finally, Cerity Partners LLC acquired a new stake in shares of Qorvo in the 2nd quarter valued at approximately $327,000. 88.57% of the stock is owned by institutional investors and hedge funds.

Qorvo Company Profile

(Get Free Report)

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.

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