Insider Selling: Qorvo (NASDAQ:QRVO) SVP Sells $285,275.00 in Stock

Qorvo, Inc. (NASDAQ:QRVOGet Free Report) SVP Paul Fego sold 2,500 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $114.11, for a total transaction of $285,275.00. Following the completion of the transaction, the senior vice president directly owned 74,460 shares of the company’s stock, valued at approximately $8,496,630.60. This represents a 3.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Qorvo Stock Performance

Shares of NASDAQ:QRVO traded up $10.08 on Tuesday, hitting $118.06. 2,287,648 shares of the company were exchanged, compared to its average volume of 1,272,417. The firm has a market capitalization of $10.42 billion, a P/E ratio of 27.39, a price-to-earnings-growth ratio of 2.02 and a beta of 1.45. The company has a current ratio of 3.54, a quick ratio of 2.68 and a debt-to-equity ratio of 0.45. Qorvo, Inc. has a 1-year low of $74.92 and a 1-year high of $120.52. The stock’s 50 day moving average price is $94.27 and its 200 day moving average price is $90.58.

Qorvo (NASDAQ:QRVOGet Free Report) last released its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.53. The firm had revenue of $784.79 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Sell-side analysts predict that Qorvo, Inc. will post 6.41 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Citigroup reduced their price objective on Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Qorvo in a report on Friday, July 24th. UBS Group raised their price target on shares of Qorvo from $91.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Wall Street Zen upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. Finally, TD Cowen reaffirmed a “hold” rating on shares of Qorvo in a report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $94.00.

Check Out Our Latest Report on QRVO

Institutional Trading of Qorvo

A number of hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its holdings in Qorvo by 115.5% in the second quarter. The Manufacturers Life Insurance Company now owns 9,518 shares of the semiconductor company’s stock valued at $888,000 after acquiring an additional 5,102 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of Qorvo during the 2nd quarter valued at approximately $385,000. Tidal Investments LLC lifted its stake in shares of Qorvo by 9.3% in the 2nd quarter. Tidal Investments LLC now owns 67,810 shares of the semiconductor company’s stock valued at $6,325,000 after purchasing an additional 5,752 shares during the period. Squarepoint Ops LLC boosted its holdings in Qorvo by 1.3% during the second quarter. Squarepoint Ops LLC now owns 299,956 shares of the semiconductor company’s stock worth $27,977,000 after buying an additional 3,728 shares in the last quarter. Finally, Nykredit A S purchased a new stake in Qorvo during the second quarter worth $296,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Company Profile

(Get Free Report)

Qorvo, Inc is a semiconductor company that develops and manufactures radio-frequency (RF) and related connectivity solutions. Its products are used to generate, filter, amplify and manage wireless signals in communications equipment and electronic devices.

The company supplies RF components, modules and integrated circuits for smartphones, cellular base stations, Wi-Fi equipment, automotive systems, Internet of Things devices, consumer electronics, and aerospace and defense applications.

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Insider Buying and Selling by Quarter for Qorvo (NASDAQ:QRVO)

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