Qorvo, Inc. (NASDAQ:QRVO) Director John R. Harding Sells 1,450 Shares of Stock

Qorvo, Inc. (NASDAQ:QRVO) Director John R. Harding sold 1,450 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total transaction of $101,630.50. Following the completion of the sale, the director now directly owns 7,597 shares of the company’s stock, valued at approximately $532,473.73. This trade represents a 16.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Qorvo Stock Up 1.6 %

Shares of NASDAQ QRVO opened at $72.42 on Friday. Qorvo, Inc. has a 12-month low of $49.46 and a 12-month high of $130.99. The stock’s fifty day simple moving average is $66.37 and its two-hundred day simple moving average is $72.23. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $6.76 billion, a PE ratio of 258.64, a price-to-earnings-growth ratio of 15.57 and a beta of 1.38.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.42. Qorvo had a return on equity of 12.41% and a net margin of 0.71%. The business had revenue of $869.47 million for the quarter, compared to the consensus estimate of $850.13 million. During the same quarter last year, the business posted $1.39 earnings per share. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. As a group, analysts expect that Qorvo, Inc. will post 4.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Qorvo

Several institutional investors have recently added to or reduced their stakes in QRVO. Ameriprise Financial Inc. lifted its position in shares of Qorvo by 102.0% during the 4th quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company’s stock valued at $251,577,000 after acquiring an additional 1,816,811 shares during the period. Norges Bank acquired a new position in Qorvo in the fourth quarter valued at $71,825,000. Amundi raised its stake in shares of Qorvo by 84.4% in the 4th quarter. Amundi now owns 2,143,858 shares of the semiconductor company’s stock valued at $156,673,000 after acquiring an additional 981,519 shares during the period. Wealthfront Advisers LLC boosted its position in shares of Qorvo by 8,535.6% in the fourth quarter. Wealthfront Advisers LLC now owns 931,690 shares of the semiconductor company’s stock worth $65,153,000 after buying an additional 920,901 shares during the period. Finally, Vulcan Value Partners LLC grew its position in Qorvo by 53.7% in the fourth quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company’s stock valued at $180,487,000 after acquiring an additional 902,353 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on QRVO shares. Benchmark raised Qorvo from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a report on Wednesday, April 30th. The Goldman Sachs Group reduced their target price on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Needham & Company LLC decreased their price objective on Qorvo from $100.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Stifel Nicolaus set a $75.00 target price on shares of Qorvo in a research note on Monday, April 28th. Finally, Loop Capital lowered their price objective on Qorvo from $90.00 to $75.00 and set a “hold” rating on the stock in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $91.21.

Qorvo Company Profile

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.