Qorvo, Inc. (NASDAQ:QRVO – Get Free Report) SVP Philip Chesley sold 5,487 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $97.50, for a total value of $534,982.50. Following the transaction, the senior vice president directly owned 44,021 shares of the company’s stock, valued at approximately $4,292,047.50. This represents a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Qorvo Stock Down 0.4%
Shares of QRVO traded down $0.34 during mid-day trading on Tuesday, reaching $95.70. The company’s stock had a trading volume of 1,156,985 shares, compared to its average volume of 1,284,283. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.54 and a quick ratio of 2.68. Qorvo, Inc. has a 12-month low of $74.92 and a 12-month high of $109.49. The stock has a market cap of $8.44 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 1.43 and a beta of 1.44. The company’s 50 day moving average is $92.29 and its 200 day moving average is $88.02.
Qorvo (NASDAQ:QRVO – Get Free Report) last posted its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.53. The firm had revenue of $784.79 million during the quarter, compared to analysts’ expectations of $743.28 million. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The firm’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Equities analysts anticipate that Qorvo, Inc. will post 6.3 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Read Our Latest Stock Report on QRVO
Institutional Trading of Qorvo
Several hedge funds and other institutional investors have recently made changes to their positions in QRVO. BlackRock Inc. acquired a new position in Qorvo during the second quarter worth about $942,610,000. Bank of America Corp DE purchased a new stake in Qorvo during the second quarter valued at about $182,131,000. AQR Arbitrage LLC purchased a new position in shares of Qorvo in the 4th quarter valued at $118,204,000. Norges Bank purchased a new position in Qorvo in the fourth quarter valued at about $92,430,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Qorvo by 435.0% during the second quarter. Assenagon Asset Management S.A. now owns 1,183,896 shares of the semiconductor company’s stock valued at $110,422,000 after purchasing an additional 962,593 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.
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.
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