Steven Creviston Sells 4,810 Shares of Qorvo (NASDAQ:QRVO) Stock

Qorvo, Inc. (NASDAQ:QRVO – Get Free Report) SVP Steven Creviston sold 4,810 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $116.56, for a total value of $560,653.60. Following the completion of the transaction, the senior vice president directly owned 114,641 shares in the company, valued at $13,362,554.96. This trade represents a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Qorvo Stock Down 3.5%

Shares of Qorvo stock traded down $4.09 on Wednesday, reaching $113.97. The company’s stock had a trading volume of 1,777,502 shares, compared to its average volume of 1,275,300. The company has a market capitalization of $10.05 billion, a price-to-earnings ratio of 26.44, a P/E/G ratio of 1.87 and a beta of 1.45. The firm’s fifty day simple moving average is $94.93 and its two-hundred day simple moving average is $90.83. Qorvo, Inc. has a 52 week low of $74.92 and a 52 week high of $120.52. The company has a quick ratio of 2.68, a current ratio of 3.54 and a debt-to-equity ratio of 0.45.

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Qorvo (NASDAQ:QRVO – Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.53. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The firm had revenue of $784.79 million for the quarter, compared to the consensus estimate of $743.28 million. During the same period in the prior year, the company posted $0.92 earnings per share. The company’s quarterly revenue was down 4.2% 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 6.41 earnings per share for the current year.

Analyst Ratings Changes

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

Check Out Our Latest Stock Report on Qorvo

Hedge Funds Weigh In On Qorvo

A number of institutional investors have recently bought and sold shares of QRVO. Wedmont Private Capital lifted its position in shares of Qorvo by 1.6% during the 2nd quarter. Wedmont Private Capital now owns 10,247 shares of the semiconductor company’s stock valued at $879,000 after buying an additional 162 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in Qorvo by 4.4% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,955 shares of the semiconductor company’s stock worth $306,000 after acquiring an additional 167 shares in the last quarter. Larson Financial Group LLC increased its holdings in Qorvo by 14.6% in the 4th quarter. Larson Financial Group LLC now owns 1,483 shares of the semiconductor company’s stock worth $125,000 after acquiring an additional 189 shares in the last quarter. Optimize Financial Inc raised its position in Qorvo by 1.5% during the fourth quarter. Optimize Financial Inc now owns 15,024 shares of the semiconductor company’s stock worth $1,270,000 after acquiring an additional 216 shares during the period. Finally, Parallel Advisors LLC raised its position in Qorvo by 29.6% during the first quarter. Parallel Advisors LLC now owns 1,230 shares of the semiconductor company’s stock worth $95,000 after acquiring an additional 281 shares during the period. 88.57% of the stock is owned by institutional investors.

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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