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

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

Qorvo Stock Performance

Shares of Qorvo stock opened at $100.38 on Friday. Qorvo, Inc. has a 1 year low of $74.92 and a 1 year high of $109.49. The firm’s 50-day moving average is $91.91 and its 200 day moving average is $89.38. The stock has a market cap of $8.86 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 1.77 and a beta of 1.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.54 and a quick ratio of 2.68.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.53. The business had revenue of $784.79 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business earned $0.92 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Sell-side analysts anticipate that Qorvo, Inc. will post 6.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on QRVO. Weiss Ratings reiterated a “hold (c)” rating on shares of Qorvo in a research note on Friday, July 24th. Citigroup decreased their price target on Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. TD Cowen reaffirmed a “hold” rating on shares of Qorvo in a report on Wednesday, July 29th. UBS Group increased their price objective on Qorvo from $91.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Finally, Wall Street Zen upgraded Qorvo from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. Three investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $94.00.

Hedge Funds Weigh In On Qorvo

Several institutional investors and hedge funds have recently bought and sold shares of QRVO. Smartleaf Asset Management LLC increased its position in Qorvo by 215.9% in 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 in the last quarter. Global Retirement Partners LLC purchased a new position in shares of Qorvo during the 2nd quarter valued at about $32,000. Advisory Services Network LLC bought a new position in shares of Qorvo during the 3rd quarter valued at approximately $36,000. Elevation Wealth Partners LLC grew its stake in shares of Qorvo by 301.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 413 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 310 shares during the period. Finally, Ameritas Advisory Services LLC bought a new position in shares of Qorvo during the 2nd quarter valued at approximately $43,000. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Qorvo

Here are the key news stories impacting Qorvo this week:

• Positive Sentiment: Mouser Electronics released a Qorvo-supported eBook highlighting RF solutions for drones, satellite communications and industrial IoT. The initiative reinforces Qorvo’s exposure to potentially growing markets requiring higher bandwidth, power efficiency and connectivity. Mouser Releases New Qorvo eBook on RF Solutions for Drones, SATCOM and IIoT Next-Generation Markets
• Positive Sentiment: Zacks identified Qorvo as a strong value stock, which could attract investors because of its valuation and earnings profile. The company’s latest quarterly results also showed an earnings beat, with EPS of $1.64 versus the $1.11 consensus estimate, although revenue declined 4.2% year over year. Here’s Why Qorvo Is a Strong Value Stock
• Neutral Sentiment: Skyworks Solutions extended the expiration date for its offers to exchange Qorvo notes amid the companies’ merger plans. The extension keeps the transaction in focus but may prolong uncertainty around timing, financing and deal completion. Skyworks Extends Qorvo Note Exchange Amid Merger Plans
• Negative Sentiment: Qorvo insiders reported several sales totaling approximately $4.42 million. CEO Robert Bruggeworth sold 28,744 shares, while SVPs Steven Creviston, Paul Fego and Frank Stewart also reduced their holdings. Although such transactions can reflect diversification or planned selling, the concentration of sales may weigh on investor sentiment.

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.