Qorvo (NASDAQ:QRVO) CFO Sells $504,952.50 in Stock

Qorvo, Inc. (NASDAQ:QRVO) CFO Grant Brown sold 5,179 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $97.50, for a total value of $504,952.50. Following the transaction, the chief financial officer owned 49,268 shares of the company’s stock, valued at approximately $4,803,630. This represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Qorvo Stock Down 0.5%

QRVO opened at $96.31 on Friday. The stock’s 50 day moving average price is $92.26 and its 200 day moving average price is $88.41. 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 stock has a market cap of $8.50 billion, a P/E ratio of 22.35, a P/E/G ratio of 1.41 and a beta of 1.44. Qorvo, Inc. has a 12 month low of $74.92 and a 12 month high of $109.49.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 17.23% and a net margin of 10.95%.The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, research analysts predict that Qorvo, Inc. will post 6.3 earnings per share for the current year.

Institutional Investors Weigh In On Qorvo

Several hedge funds have recently modified their holdings of QRVO. Jones Financial Companies Lllp increased its stake in Qorvo by 440.1% in the 1st quarter. Jones Financial Companies Lllp now owns 8,134 shares of the semiconductor company’s stock worth $589,000 after purchasing an additional 6,628 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Qorvo by 158.7% in the second quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company’s stock worth $180,000 after buying an additional 1,301 shares during the period. First Trust Advisors LP increased its position in shares of Qorvo by 56.5% in the second quarter. First Trust Advisors LP now owns 142,503 shares of the semiconductor company’s stock worth $12,100,000 after acquiring an additional 51,475 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Qorvo during the second quarter valued at approximately $428,000. Finally, Cerity Partners LLC purchased a new stake in shares of Qorvo in the 2nd quarter valued at approximately $327,000. 88.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on QRVO. TD Cowen reaffirmed a “hold” rating on shares of Qorvo in a research note on Wednesday, July 29th. JPMorgan Chase & Co. upped their target price on Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded Qorvo from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a report on Friday, July 24th. Finally, UBS Group lifted their target price on Qorvo from $91.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Three 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, Qorvo presently has a consensus rating of “Hold” and an average target price of $94.00.

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.