Key Points
- Qorvo SVP Paul Fego sold 2,500 shares at an average price of $114.11, generating $285,275; his remaining stake was valued at approximately $8.5 million.
- Qorvo shares opened at $118.06, near their 52-week high of $120.52, after rising 9.3%. The company recently exceeded quarterly earnings and revenue expectations, reporting $1.64 in EPS and $784.79 million in revenue.
- Analysts maintain a consensus “Hold” rating with a $94 price target, while institutional investors own 88.57% of Qorvo’s outstanding shares.
Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) SVP Paul Fego sold 2,500 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $114.11, for a total transaction of $285,275.00. Following the completion of the transaction, the senior vice president owned 74,460 shares in the company, valued at $8,496,630.60. The trade was a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Qorvo Trading Up 9.3%
Shares of QRVO stock opened at $118.06 on Wednesday. Qorvo, Inc. has a 1 year low of $74.92 and a 1 year high of $120.52. The firm has a fifty day moving average price of $94.93 and a 200-day moving average price of $90.83. 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 company has a market cap of $10.42 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 1.87 and a beta of 1.45.
Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.11 by $0.53. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The firm had revenue of $784.79 million during the quarter, compared to analyst estimates of $743.28 million. During the same period in the prior year, the business posted $0.92 EPS. Qorvo's revenue was down 4.2% on a year-over-year basis. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, equities analysts predict that Qorvo, Inc. will post 6.41 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on QRVO. UBS Group raised their price objective on Qorvo from $91.00 to $96.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. TD Cowen reiterated a "hold" rating on shares of Qorvo in a research note on Wednesday, July 29th. Wall Street Zen raised shares of Qorvo from a "hold" rating to a "buy" rating in a report on Sunday, August 2nd. Citigroup decreased their target price on shares of 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 restated a "hold (c)" rating on shares of Qorvo in a research note on Friday, July 24th. Three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $94.00.
Check Out Our Latest Stock Report on Qorvo
Hedge Funds Weigh In On Qorvo
Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Qorvo in the 2nd quarter valued at $942,610,000. Bank of America Corp DE bought a new position in shares of Qorvo during the 2nd quarter valued at about $182,131,000. Dimensional Fund Advisors LP grew its position in shares of Qorvo by 16.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,181,479 shares of the semiconductor company's stock valued at $168,842,000 after purchasing an additional 311,645 shares in the last quarter. LSV Asset Management increased its holdings in shares of Qorvo by 2.3% in the fourth quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company's stock worth $131,452,000 after purchasing an additional 34,605 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Qorvo by 435.0% in the second quarter. Assenagon Asset Management S.A. now owns 1,183,896 shares of the semiconductor company's stock worth $110,422,000 after purchasing an additional 962,593 shares during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.
Qorvo Company Profile
(
Get Free Report)
Qorvo, Inc is a semiconductor company that develops and manufactures radio-frequency (RF) and related connectivity solutions. Its products are used to generate, filter, amplify and manage wireless signals in communications equipment and electronic devices.
The company supplies RF components, modules and integrated circuits for smartphones, cellular base stations, Wi-Fi equipment, automotive systems, Internet of Things devices, consumer electronics, and aerospace and defense applications.
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