Qorvo (NASDAQ:QRVO) CFO Sells $504,952.50 in Stock

Qorvo, Inc. (NASDAQ:QRVO) CFO Grant Brown sold 5,179 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $97.50, for a total transaction of $504,952.50. Following the sale, the chief financial officer directly owned 49,268 shares of the company’s stock, valued at $4,803,630. The trade was a 9.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Qorvo Stock Down 0.4%

Shares of NASDAQ QRVO traded down $0.34 during mid-day trading on Tuesday, hitting $95.70. The company had a trading volume of 1,156,985 shares, compared to its average volume of 1,284,283. The company has a market capitalization of $8.44 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 1.43 and a beta of 1.44. 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 business’s 50-day simple moving average is $92.29 and its 200 day simple moving average is $88.02. Qorvo, Inc. has a 1-year low of $74.92 and a 1-year high of $109.49.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. UBS Group boosted their price target on Qorvo from $91.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Wall Street Zen raised shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. JPMorgan Chase & Co. increased their target price on shares of Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. TD Cowen reissued a “hold” rating on shares of Qorvo in a report on Wednesday, July 29th. Finally, Craig Hallum restated a “buy” rating and issued a $120.00 price objective on shares of Qorvo in a research note on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $94.00.

Institutional Investors Weigh In On Qorvo

A number of institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Qorvo during the second quarter worth approximately $942,610,000. Bank of America Corp DE acquired a new position in shares of Qorvo in the second quarter worth approximately $182,131,000. AQR Arbitrage LLC bought a new position in shares of Qorvo in the 4th quarter worth about $118,204,000. Norges Bank bought a new position in shares of Qorvo during the 4th quarter worth about $92,430,000. Finally, Assenagon Asset Management S.A. raised its holdings in Qorvo by 435.0% during the second quarter. Assenagon Asset Management S.A. now owns 1,183,896 shares of the semiconductor company’s stock worth $110,422,000 after buying an additional 962,593 shares during the last quarter. 88.57% of the stock is owned by institutional investors.

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.