Key Points
- Qorvo VP Gina Harrison sold 956 shares on May 19 at an average price of $95.00, totaling about $90,820. After the sale, she still held 29,143 shares worth roughly $2.77 million.
- Qorvo reported stronger-than-expected quarterly results, with EPS of $1.69 versus the $1.21 estimate and revenue of $808.28 million, though revenue was still down 7% year over year.
- Wall Street remains cautious on the stock: analysts currently rate Qorvo as a “Hold” on average, with a consensus price target of $96.63, even after some recent target raises and rating changes.
Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) VP Gina Harrison sold 956 shares of the company's stock in a transaction that occurred 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 transaction, the vice president owned 29,143 shares of the company's stock, valued at approximately $2,768,585. This trade represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Qorvo Price Performance
Shares of NASDAQ:QRVO opened at $98.78 on Thursday. The firm has a market cap of $8.69 billion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 1.48 and a beta of 1.42. The firm's fifty day moving average is $83.48 and its 200-day moving average is $83.87. 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 $106.30.
Qorvo (NASDAQ:QRVO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.48. The company had revenue of $808.28 million for 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%. Qorvo's revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.42 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Sell-side analysts predict that Qorvo, Inc. will post 5.85 earnings per share for the current year.
Institutional Investors Weigh In On Qorvo
A number of large investors have recently bought and sold shares of QRVO. Nisa Investment Advisors LLC acquired a new position in shares of Qorvo during the third quarter valued at about $25,000. Winnow Wealth LLC bought a new position in shares of Qorvo during the 3rd quarter worth about $27,000. Stance Capital LLC acquired a new stake in shares of Qorvo in the 3rd quarter valued at about $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. Finally, Sound Income Strategies LLC increased its position in 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 in the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
QRVO has been the subject of a number of analyst reports. KeyCorp restated a "sector weight" rating on shares of Qorvo in a research report on Wednesday, January 28th. JPMorgan Chase & Co. lifted their price objective on Qorvo from $85.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Barclays raised Qorvo from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $95.00 to $100.00 in a research note on Wednesday, April 22nd. Morgan Stanley set a $84.00 target price on Qorvo in a research note on Wednesday, January 28th. Finally, Wolfe Research downgraded Qorvo from an "outperform" rating to a "peer perform" rating in a report on Friday, April 17th. Three investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Qorvo has an average rating of "Hold" and an average price target of $96.63.
Get Our Latest Report on Qorvo
Qorvo Company Profile
(
Get Free Report)
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.
Further Reading
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