Key Points
- Qorvo VP Gina Harrison sold shares: She sold 4,714 shares on May 22 at an average price of $100 each, totaling $471,400. After the sale, she still held 24,429 shares, a 16.18% reduction in her position.
- The stock has been trading near its 52-week high: Qorvo opened at $108.23, close to its 52-week high of $109.03, and was up 1.7% in the session cited.
- Qorvo’s latest earnings beat expectations: The semiconductor company reported quarterly EPS of $1.69 versus the $1.21 consensus estimate, while revenue came in slightly above forecasts at $808.28 million.
Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) SVP Paul Fego sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the sale, the senior vice president owned 71,038 shares of the company's stock, valued at $7,103,800. This represents a 3.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.
Qorvo Price Performance
Shares of QRVO stock opened at $108.23 on Wednesday. The company has a current ratio of 3.24, a quick ratio of 2.46 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average of $85.58 and a two-hundred day moving average of $84.24. The company has a market capitalization of $9.53 billion, a P/E ratio of 29.90, a P/E/G ratio of 1.66 and a beta of 1.42. Qorvo, Inc. has a 12 month low of $74.03 and a 12 month high of $109.03.
Qorvo (NASDAQ:QRVO - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.48. The company had revenue of $808.28 million for the quarter, compared to the consensus estimate of $801.31 million. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.The company's quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.42 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, equities analysts expect that Qorvo, Inc. will post 5.87 EPS for the current year.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on QRVO shares. Benchmark reaffirmed a "hold" rating on shares of Qorvo in a report on Wednesday, January 28th. KeyCorp reaffirmed a "sector weight" rating on shares of Qorvo in a report on Wednesday, January 28th. Stifel Nicolaus decreased their price objective on Qorvo from $88.00 to $85.00 and set a "hold" rating on the stock in a report on Wednesday, January 28th. Piper Sandler reaffirmed a "neutral" rating on shares of Qorvo in a report on Wednesday, January 28th. Finally, Citigroup lifted their price objective on Qorvo from $90.00 to $100.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $96.63.
Get Our Latest Report on QRVO
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Winnow Wealth LLC acquired a new position in shares of Qorvo in the 3rd quarter worth approximately $27,000. Stance Capital LLC acquired a new position in shares of Qorvo in the 3rd quarter worth approximately $27,000. Smartleaf Asset Management LLC boosted its holdings 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 worth $29,000 after acquiring an additional 231 shares in the last quarter. Sound Income Strategies LLC boosted its holdings 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 worth $30,000 after acquiring an additional 343 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Qorvo in the 3rd quarter worth approximately $36,000. 88.57% of the stock is owned by institutional investors and hedge funds.
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.
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