Insider Selling: Qorvo (NASDAQ:QRVO) SVP Sells $250,000.00 in Stock

Qorvo, Inc. (NASDAQ:QRVO) SVP Paul Fego sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the sale, the senior vice president directly owned 71,038 shares of the company’s stock, valued at approximately $7,103,800. This represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Qorvo Trading Up 2.4%

Shares of NASDAQ QRVO opened at $106.42 on Friday. Qorvo, Inc. has a 1 year low of $74.03 and a 1 year high of $109.49. The stock has a market cap of $9.37 billion, a P/E ratio of 29.40, a price-to-earnings-growth ratio of 1.62 and a beta of 1.42. The firm has a 50-day moving average of $86.66 and a 200 day moving average of $84.50. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.24 and a quick ratio of 2.46.

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

Hedge Funds Weigh In On Qorvo

Hedge funds have recently modified their holdings of the stock. Sage Rhino Capital LLC boosted its position in Qorvo by 4.4% during the third quarter. Sage Rhino Capital LLC now owns 3,758 shares of the semiconductor company’s stock worth $342,000 after purchasing an additional 160 shares in the last quarter. Fred Alger Management LLC boosted its position in Qorvo by 5.3% during the third quarter. Fred Alger Management LLC now owns 3,179 shares of the semiconductor company’s stock worth $290,000 after purchasing an additional 160 shares in the last quarter. Beacon Investment Advisory Services Inc. boosted its position in Qorvo by 5.7% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 3,001 shares of the semiconductor company’s stock worth $254,000 after purchasing an additional 161 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its position in Qorvo by 4.4% during the first quarter. Fifth Third Wealth Advisors LLC now owns 3,955 shares of the semiconductor company’s stock worth $306,000 after purchasing an additional 167 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in shares of Qorvo by 60.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on QRVO. Citigroup lifted their price target on shares of Qorvo from $90.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Mizuho reissued an “underperform” rating and set a $66.00 price target (down from $70.00) on shares of Qorvo in a research report on Monday, April 20th. JPMorgan Chase & Co. lifted their price target on shares of Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Barclays upgraded shares of Qorvo from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $95.00 to $100.00 in a research report on Wednesday, April 22nd. Finally, Zacks Research downgraded shares of Qorvo from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Three research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Qorvo has an average rating of “Hold” and a consensus price target of $96.63.

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.