Qorvo (NASDAQ:QRVO) SVP Paul Fego Sells 2,500 Shares of Stock

Qorvo, Inc. (NASDAQ:QRVO) SVP Paul Fego sold 2,500 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $114.11, for a total transaction of $285,275.00. Following the sale, the senior vice president owned 74,460 shares in the company, valued at approximately $8,496,630.60. This trade represents a 3.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Qorvo Stock Up 9.3%

NASDAQ:QRVO opened at $118.06 on Wednesday. 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 firm’s 50-day moving average price is $94.93 and its 200-day moving average price is $90.83. The company has a market capitalization of $10.42 billion, a PE ratio of 27.39, a P/E/G ratio of 1.87 and a beta of 1.45. Qorvo, Inc. has a 1-year low of $74.92 and a 1-year high of $120.52.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.53. The company had revenue of $784.79 million during the quarter, compared to analysts’ expectations of $743.28 million. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. Qorvo’s revenue was down 4.2% on a year-over-year basis. During the same period last year, the company posted $0.92 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, equities analysts predict that Qorvo, Inc. will post 6.41 EPS for the current fiscal year.

Institutional Trading of Qorvo

Large investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in Qorvo in the second quarter valued at about $942,610,000. Bank of America Corp DE bought a new stake in shares of Qorvo during the 2nd quarter valued at about $182,131,000. Dimensional Fund Advisors LP increased its position in shares of Qorvo by 16.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,181,479 shares of the semiconductor company’s stock valued at $168,842,000 after purchasing an additional 311,645 shares during the last quarter. LSV Asset Management increased its position in shares of Qorvo by 2.3% during the 4th 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. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Qorvo by 435.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,183,896 shares of the semiconductor company’s stock worth $110,422,000 after purchasing an additional 962,593 shares during the period. Institutional investors own 88.57% of the company’s stock.

Wall Street Analyst Weigh In

QRVO has been the topic of several recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a research note on Friday, July 24th. Wall Street Zen upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. TD Cowen reissued a “hold” rating on shares of Qorvo in a research report on Wednesday, July 29th. UBS Group raised their price objective on shares of Qorvo from $91.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, Citigroup decreased their price objective on shares of Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $94.00.

Qorvo Company Profile

Qorvo, Inc is a semiconductor company that develops and manufactures radio-frequency (RF) and related connectivity solutions. Its products are used to generate, filter, amplify and manage wireless signals in communications equipment and electronic devices.

The company supplies RF components, modules and integrated circuits for smartphones, cellular base stations, Wi-Fi equipment, automotive systems, Internet of Things devices, consumer electronics, and aerospace and defense applications.