Insider Selling: Qorvo (NASDAQ:QRVO) SVP Sells $784,186.88 in Stock

Qorvo, Inc. (NASDAQ:QRVOGet Free Report) SVP Frank Stewart sold 8,279 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $94.72, for a total transaction of $784,186.88. Following the sale, the senior vice president directly owned 43,069 shares of the company’s stock, valued at approximately $4,079,495.68. This trade represents a 16.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Qorvo Trading Up 2.5%

Qorvo stock opened at $102.84 on Friday. Qorvo, Inc. has a 1 year low of $74.92 and a 1 year high of $109.49. The firm’s 50 day moving average price is $92.09 and its 200-day moving average price is $89.47. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.54 and a quick ratio of 2.68. The stock has a market cap of $9.07 billion, a P/E ratio of 23.86, a PEG ratio of 1.77 and a beta of 1.45.

Qorvo (NASDAQ:QRVOGet Free Report) last issued its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.53. The firm had revenue of $784.79 million during the quarter, compared to analyst estimates of $743.28 million. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. Qorvo’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, equities analysts predict that Qorvo, Inc. will post 6.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

QRVO has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qorvo in a report on Friday, July 24th. TD Cowen restated a “hold” rating on shares of Qorvo in a report on Wednesday, July 29th. Wall Street Zen raised Qorvo from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. Citigroup decreased their price objective on Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Finally, UBS Group increased their target price on Qorvo from $91.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $94.00.

Get Our Latest Stock Report on QRVO

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Qorvo during the second quarter valued at approximately $942,610,000. California State Teachers Retirement System boosted its holdings in shares of Qorvo by 8,968.7% in the 2nd quarter. California State Teachers Retirement System now owns 9,208,361 shares of the semiconductor company’s stock worth $858,864,000 after purchasing an additional 9,106,821 shares during the period. State Street Corp increased its position in shares of Qorvo by 5.0% during the 2nd quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company’s stock valued at $314,516,000 after purchasing an additional 175,031 shares during the last quarter. FIL Ltd raised its holdings in Qorvo by 13.2% during the 4th quarter. FIL Ltd now owns 3,610,045 shares of the semiconductor company’s stock valued at $305,085,000 after buying an additional 421,224 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Qorvo by 16.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,181,479 shares of the semiconductor company’s stock valued at $168,842,000 after buying an additional 311,645 shares during the period. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo News Summary

Here are the key news stories impacting Qorvo this week:

  • Positive Sentiment: Qorvo’s latest quarterly results exceeded expectations: earnings per share came in at $1.64 versus the $1.11 consensus estimate, while revenue of roughly $784.8 million surpassed forecasts of $743.3 million. The earnings beat provides support for the stock, although revenue declined 4.2% year over year.
  • Positive Sentiment: Institutional ownership remains high at approximately 88.6%, with major investors including BlackRock, California State Teachers’ Retirement System and Bank of America reportedly adding or initiating sizable positions. Such buying can reinforce investor confidence and provide demand for QRVO shares.
  • Positive Sentiment: Qorvo’s exposure to radio-frequency solutions for drones, satellite communications and industrial IoT may offer longer-term growth opportunities in bandwidth, connectivity and power-efficiency markets.
  • Neutral Sentiment: Brokerages maintain an average “Hold” recommendation, with three Buy ratings, fourteen Holds and one Sell. The average price target is $94, below recent trading levels, suggesting analysts see limited near-term upside despite the earnings beat. Qorvo Given Average Recommendation of Hold
  • Neutral Sentiment: Skyworks Solutions’ extension of exchange offers for Qorvo notes keeps the companies’ merger plans in focus. The potential transaction could be a catalyst, but the extension also leaves timing, financing and completion risks unresolved.
  • Negative Sentiment: Several executives recently sold shares. CEO Robert Bruggeworth sold 28,744 shares for approximately $2.9 million, while SVPs Steven Creviston, Paul Fego and Frank Stewart also reduced their holdings. The combined sales total roughly $4.4 million and could weigh on sentiment, though they may reflect routine diversification rather than a change in business outlook. Qorvo Insider Selling

About Qorvo

(Get Free Report)

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.

Further Reading

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

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