Qorvo (NASDAQ:QRVO) VP Sells $90,820.00 in Stock

Qorvo, Inc. (NASDAQ:QRVO) VP Gina Harrison sold 956 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $95.00, for a total transaction of $90,820.00. Following the completion of the sale, the vice president directly owned 29,143 shares in the company, valued at approximately $2,768,585. This represents a 3.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Qorvo Trading Up 8.9%

NASDAQ:QRVO opened at $106.43 on Friday. The firm’s fifty day moving average is $84.43 and its 200-day moving average is $84.04. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.46 and a current ratio of 3.24. Qorvo, Inc. has a 52 week low of $73.00 and a 52 week high of $106.46. The firm has a market cap of $9.37 billion, a P/E ratio of 29.40, a P/E/G ratio of 1.53 and a beta of 1.42.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.69 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 for the quarter, compared to analyst estimates of $801.31 million. During the same period in the prior year, the firm posted $1.42 EPS. The company’s quarterly revenue was down 7.0% on a year-over-year basis. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Equities analysts expect that Qorvo, Inc. will post 5.87 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of QRVO. Nisa Investment Advisors LLC acquired a new position in Qorvo during the third quarter worth $25,000. Winnow Wealth LLC acquired a new position in Qorvo during the third quarter worth $27,000. Stance Capital LLC acquired a new position in Qorvo during the third quarter worth $27,000. Smartleaf Asset Management LLC raised its holdings in Qorvo by 215.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock worth $29,000 after buying an additional 231 shares during the last quarter. Finally, Sound Income Strategies LLC raised its holdings in Qorvo by 952.8% during the fourth quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock worth $30,000 after buying an additional 343 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on QRVO shares. Benchmark reaffirmed a “hold” rating on shares of Qorvo in a research note on Wednesday, January 28th. Wolfe Research lowered shares of Qorvo from an “outperform” rating to a “peer perform” rating in a research note on Friday, April 17th. Citigroup increased their target price on shares of Qorvo from $90.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Barclays raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $95.00 to $100.00 in a research note on Wednesday, April 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Qorvo in a research note on Monday, April 27th. Three investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $96.63.

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.