Key Points
- Qorvo SVP Steven Creviston sold 4,810 shares at an average price of $116.56, totaling approximately $560,654. His direct holdings fell 4.03% to 114,641 shares.
- Qorvo shares opened at $113.97, with the stock down 3.5%; it has traded between $74.92 and $120.52 over the past year and has a market capitalization of about $10.05 billion.
- The company exceeded quarterly expectations, reporting $1.64 in EPS versus the $1.11 consensus and revenue of $784.79 million. Despite this, analysts maintain a consensus “Hold” rating with an average price target of $94.00.
Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) SVP Steven Creviston sold 4,810 shares of the company's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $116.56, for a total value of $560,653.60. Following the completion of the transaction, the senior vice president directly owned 114,641 shares in the company, valued at $13,362,554.96. This trade represents a 4.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Qorvo Stock Down 3.5%
NASDAQ:QRVO opened at $113.97 on Thursday. Qorvo, Inc. has a twelve month low of $74.92 and a twelve month high of $120.52. The company has a market cap of $10.05 billion, a price-to-earnings ratio of 26.44, a price-to-earnings-growth ratio of 2.04 and a beta of 1.45. The stock has a fifty day simple moving average of $95.53 and a 200-day simple moving average of $91.05. The company has a current ratio of 3.54, a quick ratio of 2.68 and a debt-to-equity ratio of 0.45.
Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.53. The firm had revenue of $784.79 million for the quarter, compared to analysts' expectations of $743.28 million. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. The business's revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Analysts anticipate that Qorvo, Inc. will post 6.42 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on QRVO shares. TD Cowen restated a "hold" rating on shares of Qorvo in a research note on Wednesday, July 29th. UBS Group increased 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. Weiss Ratings restated a "hold (c)" rating on shares of Qorvo in a report on Friday, July 24th. Citigroup decreased their target price on Qorvo from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Wednesday, July 29th. Finally, Wall Street Zen upgraded Qorvo from a "hold" rating to a "buy" rating in a report on Sunday, August 2nd. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $94.00.
View Our Latest Analysis on QRVO
Institutional Investors Weigh In On Qorvo
Large investors have recently modified their holdings of the business. Global Retirement Partners LLC bought a new position in shares of Qorvo during the second quarter valued at approximately $32,000. Elevation Wealth Partners LLC raised its stake in Qorvo by 301.0% in the second quarter. Elevation Wealth Partners LLC now owns 413 shares of the semiconductor company's stock worth $39,000 after buying an additional 310 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in Qorvo in the second quarter worth approximately $43,000. Covestor Ltd lifted its holdings in Qorvo by 142.1% during the fourth quarter. Covestor Ltd now owns 523 shares of the semiconductor company's stock worth $44,000 after buying an additional 307 shares during the period. Finally, Transamerica Financial Advisors LLC purchased a new stake in Qorvo during the second quarter worth $52,000. Institutional investors own 88.57% of the company's stock.
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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