Insider Selling: Qorvo (NASDAQ:QRVO) SVP 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 dated Friday, May 22nd. The stock was sold at an average price of $100.00, for a total transaction of $250,000.00. Following the sale, the senior vice president directly owned 71,038 shares of the company’s stock, valued at $7,103,800. This represents a 3.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Qorvo Price Performance

Shares of QRVO stock traded up $1.80 on Tuesday, reaching $108.23. 1,379,313 shares of the company were exchanged, compared to its average volume of 1,283,143. The company has a market cap of $9.53 billion, a price-to-earnings ratio of 29.90, a P/E/G ratio of 1.66 and a beta of 1.42. The business has a 50-day moving average price of $84.98 and a 200 day moving average price of $84.11. 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 1 year low of $74.03 and a 1 year high of $109.03.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.48. The business had revenue of $808.28 million during the quarter, compared to analysts’ expectations of $801.31 million. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The company’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.42 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Equities research analysts forecast that Qorvo, Inc. will post 5.87 earnings per share for the current fiscal year.

Institutional Trading of Qorvo

Hedge funds have recently made changes to their positions in the company. Winnow Wealth LLC purchased a new stake in shares of Qorvo in the 3rd quarter valued at approximately $27,000. Stance Capital LLC purchased a new stake in shares of Qorvo in the 3rd quarter valued at approximately $27,000. Smartleaf Asset Management LLC grew its stake in shares of Qorvo by 215.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 231 shares during the period. Sound Income Strategies LLC grew its stake in shares of Qorvo by 952.8% in the 4th quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 343 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in shares of Qorvo in the 3rd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on QRVO. Benchmark reissued a “hold” rating on shares of Qorvo in a research note on Wednesday, January 28th. Mizuho reissued an “underperform” rating and set a $66.00 target price (down from $70.00) on shares of Qorvo in a research note on Monday, April 20th. KeyCorp reissued a “sector weight” rating on shares of Qorvo in a research note on Wednesday, January 28th. Morgan Stanley set a $84.00 target price on shares of Qorvo in a research note on Wednesday, January 28th. Finally, Citigroup boosted 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. Three analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.