Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) CFO Grant Brown sold 5,179 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $97.50, for a total transaction of $504,952.50. Following the completion of the sale, the chief financial officer directly owned 49,268 shares of the company's stock, valued at approximately $4,803,630. This trade represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Qorvo Stock Down 0.4%
QRVO opened at $95.70 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.68 and a current ratio of 3.54. Qorvo, Inc. has a fifty-two week low of $74.92 and a fifty-two week high of $109.49. The firm's fifty day moving average is $92.25 and its 200 day moving average is $88.15. The stock has a market cap of $8.44 billion, a price-to-earnings ratio of 22.20, a price-to-earnings-growth ratio of 1.43 and a beta of 1.44.
Qorvo (NASDAQ:QRVO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.11 by $0.53. The business had revenue of $784.79 million during the quarter, compared to analyst estimates of $743.28 million. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.Qorvo'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 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, sell-side analysts forecast that Qorvo, Inc. will post 6.3 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Qorvo
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its stake in 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 during the last quarter. Global Retirement Partners LLC bought a new position in shares of Qorvo during the 2nd quarter valued at approximately $32,000. Advisory Services Network LLC purchased a new position in shares of Qorvo in the third quarter valued at $36,000. Elevation Wealth Partners LLC grew its holdings in shares of Qorvo by 301.0% in the second quarter. Elevation Wealth Partners LLC now owns 413 shares of the semiconductor company's stock valued at $39,000 after purchasing an additional 310 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its position in Qorvo by 60.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company's stock worth $41,000 after purchasing an additional 180 shares during the last quarter. 88.57% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the company. UBS Group increased their target price on Qorvo from $91.00 to $96.00 and gave the stock a "buy" rating in a research report on Wednesday, July 29th. Weiss Ratings restated a "hold (c)" rating on shares of Qorvo in a research note on Friday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Qorvo from $85.00 to $100.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. TD Cowen reiterated a "hold" rating on shares of Qorvo in a research report on Wednesday, July 29th. Finally, Barclays raised shares of Qorvo from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $95.00 to $100.00 in a report on Wednesday, April 22nd. Three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Qorvo has an average rating of "Hold" and a consensus target price of $94.00.
Check Out Our Latest Research 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.
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