Qorvo, Inc. (NASDAQ:QRVO – Get Free Report) CFO Grant Brown sold 5,179 shares of Qorvo stock in a transaction on Monday, August 17th. The shares were sold at an average price of $97.50, for a total transaction of $504,952.50. Following the completion of the sale, the chief financial officer owned 49,268 shares of the company’s stock, valued at $4,803,630. This represents a 9.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Qorvo Stock Up 1.2%
Shares of NASDAQ QRVO opened at $96.81 on Thursday. The company has a quick ratio of 2.68, a current ratio of 3.54 and a debt-to-equity ratio of 0.45. The firm has a market cap of $8.54 billion, a PE ratio of 22.46, a P/E/G ratio of 1.39 and a beta of 1.44. The company’s fifty day simple moving average is $92.28 and its 200 day simple moving average is $88.28. Qorvo, Inc. has a 12-month low of $74.92 and a 12-month high of $109.49.
Qorvo (NASDAQ:QRVO – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.53. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. The firm had revenue of $784.79 million during the quarter, compared to the consensus estimate of $743.28 million. During the same period in the previous year, the firm posted $0.92 earnings per share. The business’s revenue was down 4.2% 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 forecast that Qorvo, Inc. will post 6.3 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Qorvo
Analyst Ratings Changes
QRVO has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price target on Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Citigroup lowered their target price on Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. TD Cowen reiterated a “hold” rating on shares of Qorvo in a report on Wednesday, July 29th. UBS Group lifted their price target on shares of Qorvo from $91.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Finally, Barclays upgraded shares of Qorvo from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $95.00 to $100.00 in a research note on Wednesday, April 22nd. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $94.00.
Check Out Our Latest Stock Analysis on Qorvo
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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