Steven E. Creviston Sells 6,000 Shares of Qorvo, Inc. (QRVO) Stock

Qorvo, Inc. (NASDAQ:QRVO) VP Steven E. Creviston sold 6,000 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $70.75, for a total transaction of $424,500.00. Following the completion of the sale, the vice president now owns 120,733 shares of the company’s stock, valued at $8,541,859.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Qorvo, Inc. (NASDAQ:QRVO) traded down 1.4514% during trading on Tuesday, hitting $71.4083. 142,417 shares of the stock traded hands. The firm’s market cap is $9.08 billion. The company has a 50-day moving average of $73.48 and a 200-day moving average of $65.98. Qorvo, Inc. has a 52 week low of $48.28 and a 52 week high of $79.34.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Wednesday, May 3rd. The semiconductor company reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. The business had revenue of $643 million during the quarter, compared to analyst estimates of $632.12 million. Qorvo had a positive return on equity of 10.39% and a negative net margin of 0.55%. Qorvo’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.04 EPS. On average, analysts forecast that Qorvo, Inc. will post $5.61 EPS for the current fiscal year.

Insider Buying and Selling by Quarter for Qorvo (NASDAQ:QRVO)

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Several equities analysts recently commented on the stock. Raymond James Financial, Inc. assumed coverage on shares of Qorvo in a research note on Friday. They set an “outperform” rating and a $87.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $70.00 price objective on shares of Qorvo in a research note on Tuesday, February 28th. Cowen and Company restated a “market perform” rating and issued a $74.00 price objective (up previously from $60.00) on shares of Qorvo in a research note on Thursday, May 4th. Wells Fargo & Co initiated coverage on shares of Qorvo in a research note on Tuesday, March 7th. They issued a “market perform” rating and a $70.00 price objective for the company. They noted that the move was a valuation call. Finally, MKM Partners restated a “buy” rating and issued a $90.00 price objective (up previously from $78.00) on shares of Qorvo in a research note on Tuesday, May 30th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $69.36.

A number of large investors have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. increased its position in shares of Qorvo by 49.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,664 shares of the semiconductor company’s stock worth $114,000 after buying an additional 552 shares during the period. IFP Advisors Inc increased its position in shares of Qorvo by 46.7% in the first quarter. IFP Advisors Inc now owns 2,105 shares of the semiconductor company’s stock worth $144,000 after buying an additional 670 shares during the period. NEXT Financial Group Inc increased its position in shares of Qorvo by 145.6% in the first quarter. NEXT Financial Group Inc now owns 2,321 shares of the semiconductor company’s stock worth $158,000 after buying an additional 1,376 shares during the period. Penserra Capital Management LLC acquired a new position in shares of Qorvo during the first quarter worth about $191,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its position in shares of Qorvo by 180.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,800 shares of the semiconductor company’s stock worth $192,000 after buying an additional 1,800 shares during the period. 96.33% of the stock is owned by institutional investors and hedge funds.

Qorvo Company Profile

Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:QRVO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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