Qorvo, Inc. (NASDAQ:QRVO – Get Free Report) CEO Robert Bruggeworth sold 57,957 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $100.40, for a total transaction of $5,818,882.80. Following the transaction, the chief executive officer owned 319,880 shares of the company’s stock, valued at approximately $32,115,952. The trade was a 15.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Qorvo Stock Up 2.9%
Shares of QRVO stock traded up $2.86 on Tuesday, reaching $102.83. 1,113,923 shares of the stock were exchanged, compared to its average volume of 1,222,104. Qorvo, Inc. has a twelve month low of $74.77 and a twelve month high of $109.49. The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 1.62 and a beta of 1.42. 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 business’s 50 day moving average price is $87.63 and its 200 day moving average price is $84.71.
Qorvo (NASDAQ:QRVO – Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.48. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The firm had revenue of $808.28 million during the quarter, compared to analysts’ expectations of $801.31 million. During the same period in the previous year, the company earned $1.42 earnings per share. 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. As a group, sell-side analysts expect that Qorvo, Inc. will post 5.87 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Qorvo
Analyst Ratings Changes
A number of brokerages recently weighed in on QRVO. Zacks Research cut shares of Qorvo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 16th. Citigroup boosted their price target on shares of Qorvo from $90.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. boosted their price target on shares of Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. UBS Group boosted their price target on shares of Qorvo from $87.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Qorvo in a research report on Monday, April 27th. Three investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $96.63.
View Our Latest Report on QRVO
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.
Featured Stories
- Five stocks we like better than Qorvo
- Marvell Stock Soars on NVIDIA’s Trillion-Dollar Nod
- FirstCash Turns Pawn Into a Growth Machine
- HubSpot Just Crushed the Bear Case—Is a Bigger Rally Ahead?
- Aggressive Insider Buying Signals Opportunity in 3 Risky Stocks
Receive News & Ratings for Qorvo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qorvo and related companies with MarketBeat.com's FREE daily email newsletter.
