Qorvo (NASDAQ:QRVO) VP Gina Harrison Sells 4,714 Shares

Qorvo, Inc. (NASDAQ:QRVO) VP Gina Harrison sold 4,714 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $471,400.00. Following the completion of the sale, the vice president directly owned 24,429 shares of the company’s stock, valued at $2,442,900. This represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Gina Harrison also recently made the following trade(s):

• On Tuesday, May 19th, Gina Harrison sold 956 shares of Qorvo stock. The shares were sold at an average price of $95.00, for a total value of $90,820.00.

Qorvo Price Performance

Shares of QRVO traded up $1.80 during mid-day trading on Tuesday, hitting $108.23. The company’s stock had a trading volume of 1,379,313 shares, compared to its average volume of 1,283,143. The firm has a 50-day simple moving average of $84.98 and a 200 day simple moving average of $84.11. The firm has a market capitalization of $9.53 billion, a P/E ratio of 29.90, a P/E/G ratio of 1.66 and a beta of 1.42. Qorvo, Inc. has a 1-year low of $74.03 and a 1-year high of $109.03. The company has a current ratio of 3.24, a quick ratio of 2.46 and a debt-to-equity ratio of 0.46.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.48. The firm had revenue of $808.28 million during the quarter, compared to analysts’ expectations of $801.31 million. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.Qorvo’s revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.42 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Analysts predict that Qorvo, Inc. will post 5.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qorvo in a report on Monday, April 27th. JPMorgan Chase & Co. lifted their price objective on Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. KeyCorp reaffirmed a “sector weight” rating on shares of Qorvo in a report on Wednesday, January 28th. Mizuho reaffirmed an “underperform” rating and set a $66.00 price objective (down from $70.00) on shares of Qorvo in a report on Monday, April 20th. Finally, UBS Group lifted their price objective on Qorvo from $87.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $96.63.

Hedge Funds Weigh In On Qorvo

Several hedge funds have recently bought and sold shares of QRVO. Bank of America Corp DE grew its position in shares of Qorvo by 801.4% in the first quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company’s stock valued at $136,795,000 after purchasing an additional 1,571,303 shares during the period. AQR Arbitrage LLC purchased a new stake in shares of Qorvo in the fourth quarter valued at $118,204,000. Norges Bank purchased a new stake in shares of Qorvo in the fourth quarter valued at $92,430,000. Marshall Wace LLP grew its position in shares of Qorvo by 16,066.5% in the third quarter. Marshall Wace LLP now owns 814,630 shares of the semiconductor company’s stock valued at $74,197,000 after purchasing an additional 809,591 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Qorvo in the third quarter valued at $66,594,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

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.