Qorvo (NASDAQ:QRVO) SVP Philip Chesley Sells 5,487 Shares of Stock

Qorvo, Inc. (NASDAQ:QRVO) SVP Philip Chesley sold 5,487 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $97.50, for a total value of $534,982.50. Following the completion of the sale, the senior vice president directly owned 44,021 shares in the company, valued at approximately $4,292,047.50. The trade was a 11.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Qorvo Stock Down 0.4%

NASDAQ:QRVO opened at $95.70 on Wednesday. The company has a quick ratio of 2.68, a current ratio of 3.54 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $8.44 billion, a price-to-earnings ratio of 22.20, a price-to-earnings-growth ratio of 1.43 and a beta of 1.44. Qorvo, Inc. has a 52 week low of $74.92 and a 52 week high of $109.49. The stock’s fifty day moving average is $92.25 and its two-hundred day moving average is $88.15.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in QRVO. Bank of America Corp DE lifted its stake in Qorvo by 801.4% during the first quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company’s stock worth $136,795,000 after purchasing an additional 1,571,303 shares during the last quarter. LSV Asset Management increased its stake in Qorvo by 2.3% in the fourth quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock valued at $131,452,000 after purchasing an additional 34,605 shares during the last quarter. M&T Bank Corp increased its stake in Qorvo by 3,397.3% in the fourth quarter. M&T Bank Corp now owns 150,173 shares of the semiconductor company’s stock valued at $12,691,000 after purchasing an additional 145,879 shares during the last quarter. Credit Industriel ET Commercial acquired a new stake in Qorvo during the fourth quarter worth approximately $5,223,000. Finally, Fieldview Capital Management LLC raised its holdings in Qorvo by 570.1% during the fourth quarter. Fieldview Capital Management LLC now owns 24,352 shares of the semiconductor company’s stock worth $2,058,000 after purchasing an additional 20,718 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Analyst Upgrades and Downgrades

QRVO has been the subject of several recent research reports. Citigroup lowered their price objective on shares of Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. UBS Group increased their target price on shares of Qorvo from $91.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Qorvo in a research report on Friday, July 24th. Craig Hallum restated a “buy” rating and issued a $120.00 price target on shares of Qorvo in a research note on Wednesday, May 6th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Qorvo in a research report on Wednesday, July 29th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $94.00.

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.