Robert Bruggeworth Sells 28,744 Shares of Qorvo (NASDAQ:QRVO) Stock

Qorvo, Inc. (NASDAQ:QRVO) CEO Robert Bruggeworth sold 28,744 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $100.87, for a total transaction of $2,899,407.28. Following the completion of the sale, the chief executive officer directly owned 325,546 shares of the company’s stock, valued at $32,837,825.02. This represents a 8.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Qorvo Price Performance

Shares of QRVO stock opened at $102.84 on Friday. 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 company has a market capitalization of $9.07 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 1.77 and a beta of 1.45. The firm’s 50-day moving average is $92.09 and its two-hundred day moving average is $89.47. Qorvo, Inc. has a 12 month low of $74.92 and a 12 month high of $109.49.

Qorvo (NASDAQ:QRVO) last posted its quarterly 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 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%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.92 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. 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 firms have commented on QRVO. UBS Group lifted their target price on Qorvo from $91.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Wall Street Zen raised Qorvo from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. Citigroup reduced their price objective on shares of Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. TD Cowen reaffirmed a “hold” rating on shares of Qorvo in a research report on Wednesday, July 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qorvo in a research note on Friday, July 24th. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued 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 $94.00.

Institutional Investors Weigh In On Qorvo

A number of institutional investors have recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its stake in Qorvo by 215.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 231 shares in the last quarter. Global Retirement Partners LLC acquired a new position in Qorvo in the 2nd quarter valued at about $32,000. Advisory Services Network LLC purchased a new stake in Qorvo during the third quarter worth about $36,000. Elevation Wealth Partners LLC increased its stake in Qorvo by 301.0% during the second quarter. Elevation Wealth Partners LLC now owns 413 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 310 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Qorvo during the second quarter worth about $43,000. 88.57% of the stock is owned by institutional investors and hedge funds.

Key Qorvo News

Here are the key news stories impacting Qorvo this week:

• Positive Sentiment: Qorvo’s latest quarterly results exceeded expectations: earnings per share came in at $1.64 versus the $1.11 consensus estimate, while revenue of roughly $784.8 million surpassed forecasts of $743.3 million. The earnings beat provides support for the stock, although revenue declined 4.2% year over year.
• Positive Sentiment: Institutional ownership remains high at approximately 88.6%, with major investors including BlackRock, California State Teachers’ Retirement System and Bank of America reportedly adding or initiating sizable positions. Such buying can reinforce investor confidence and provide demand for QRVO shares.
• Positive Sentiment: Qorvo’s exposure to radio-frequency solutions for drones, satellite communications and industrial IoT may offer longer-term growth opportunities in bandwidth, connectivity and power-efficiency markets.
• Neutral Sentiment: Brokerages maintain an average “Hold” recommendation, with three Buy ratings, fourteen Holds and one Sell. The average price target is $94, below recent trading levels, suggesting analysts see limited near-term upside despite the earnings beat. Qorvo Given Average Recommendation of Hold
• Neutral Sentiment: Skyworks Solutions’ extension of exchange offers for Qorvo notes keeps the companies’ merger plans in focus. The potential transaction could be a catalyst, but the extension also leaves timing, financing and completion risks unresolved.
• Negative Sentiment: Several executives recently sold shares. CEO Robert Bruggeworth sold 28,744 shares for approximately $2.9 million, while SVPs Steven Creviston, Paul Fego and Frank Stewart also reduced their holdings. The combined sales total roughly $4.4 million and could weigh on sentiment, though they may reflect routine diversification rather than a change in business outlook. Qorvo Insider Selling

Qorvo Company Profile

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.