Key Points
- Qorvo CEO Robert Bruggeworth sold 28,744 shares at an average price of $100.87, generating approximately $2.90 million. The sale reduced his ownership by 8.11%, leaving him with 325,546 shares.
- Qorvo reported quarterly EPS of $1.64, beating estimates of $1.11, while revenue of $784.79 million also exceeded expectations but fell 4.2% year over year.
- Analysts maintain a consensus “Hold” rating with a $94 price target, below the stock’s reported $100.38 opening price; institutional investors own 88.57% of the shares.
Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) SVP Paul Fego sold 2,500 shares of the firm's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $100.00, for a total value of $250,000.00. Following the transaction, the senior vice president owned 76,960 shares in the company, valued at approximately $7,696,000. This trade represents a 3.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Qorvo Price Performance
Shares of NASDAQ QRVO opened at $100.38 on Friday. The stock has a market capitalization of $8.86 billion, a PE ratio of 23.29, a P/E/G ratio of 1.77 and a beta of 1.45. 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 business has a fifty day moving average price of $91.91 and a two-hundred day moving average price of $89.38. Qorvo, Inc. has a fifty-two week low of $74.92 and a fifty-two week high of $109.49.
Qorvo (NASDAQ:QRVO - Get Free Report) last released its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.53. The firm had revenue of $784.79 million during the quarter, compared to the consensus estimate of $743.28 million. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The company's revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.92 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, equities analysts predict that Qorvo, Inc. will post 6.3 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Qorvo
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC increased its holdings in Qorvo by 215.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 231 shares during the period. Global Retirement Partners LLC acquired a new position in shares of Qorvo in the 2nd quarter worth approximately $32,000. Advisory Services Network LLC acquired a new position in shares of Qorvo in the 3rd quarter worth approximately $36,000. Elevation Wealth Partners LLC boosted its stake in shares of Qorvo by 301.0% in the 2nd 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 during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its position in shares of Qorvo by 60.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company's stock worth $41,000 after buying an additional 180 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.
Qorvo News Roundup
Here are the key news stories impacting Qorvo this week:
- Positive Sentiment: Mouser Electronics released a Qorvo-supported eBook highlighting RF solutions for drones, satellite communications and industrial IoT. The initiative reinforces Qorvo’s exposure to potentially growing markets requiring higher bandwidth, power efficiency and connectivity. Mouser Releases New Qorvo eBook on RF Solutions for Drones, SATCOM and IIoT Next-Generation Markets
- Positive Sentiment: Zacks identified Qorvo as a strong value stock, which could attract investors because of its valuation and earnings profile. The company’s latest quarterly results also showed an earnings beat, with EPS of $1.64 versus the $1.11 consensus estimate, although revenue declined 4.2% year over year. Here's Why Qorvo Is a Strong Value Stock
- Neutral Sentiment: Skyworks Solutions extended the expiration date for its offers to exchange Qorvo notes amid the companies’ merger plans. The extension keeps the transaction in focus but may prolong uncertainty around timing, financing and deal completion. Skyworks Extends Qorvo Note Exchange Amid Merger Plans
- Negative Sentiment: Qorvo insiders reported several sales totaling approximately $4.42 million. CEO Robert Bruggeworth sold 28,744 shares, while SVPs Steven Creviston, Paul Fego and Frank Stewart also reduced their holdings. Although such transactions can reflect diversification or planned selling, the concentration of sales may weigh on investor sentiment.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on QRVO shares. TD Cowen reaffirmed a "hold" rating on shares of Qorvo in a report on Wednesday, July 29th. Wall Street Zen upgraded shares of Qorvo from a "hold" rating to a "buy" rating in a research report on Sunday, August 2nd. UBS Group upped their target price on Qorvo from $91.00 to $96.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Citigroup decreased their price target on Qorvo from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 29th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Qorvo in a report on Friday, July 24th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Qorvo currently has an average rating of "Hold" and an average price target of $94.00.
Read Our Latest Research Report on QRVO
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
