Qorvo Inc. (NASDAQ:QRVO) was up 3.8% during trading on Wednesday . The company traded as high as $64.80 and last traded at $62.70, with a volume of 1,621,278 shares traded. The stock had previously closed at $60.38.

A number of equities research analysts have commented on QRVO shares. Raymond James Financial Inc. lowered shares of Qorvo from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, April 19th. Morgan Stanley started coverage on shares of Qorvo in a report on Monday, June 27th. They set an “equal weight” rating and a $56.00 price objective on the stock. Cowen and Company increased their price objective on shares of Qorvo from $55.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, July 22nd. Brean Capital reissued a “buy” rating on shares of Qorvo in a report on Wednesday, June 15th. Finally, Mizuho lowered shares of Qorvo from a “buy” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research note on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and sixteen have given a buy rating to the company’s stock. Qorvo has a consensus rating of “Buy” and an average target price of $61.69.

The stock’s 50 day moving average price is $56.36 and its 200-day moving average price is $48.23. The firm’s market cap is $8.04 billion.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Wednesday, May 4th. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.12. The company earned $608.10 million during the quarter, compared to analysts’ expectations of $599.32 million. During the same period in the previous year, the company posted $1.11 earnings per share. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. Analysts predict that Qorvo Inc. will post $4.93 EPS for the current fiscal year.

In other Qorvo news, CEO Robert A. Bruggeworth sold 5,739 shares of the company’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $45.54, for a total value of $261,354.06. Following the completion of the transaction, the chief executive officer now owns 231,207 shares in the company, valued at approximately $10,529,166.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert A. Bruggeworth sold 10,000 shares of the company’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $59.50, for a total value of $595,000.00. Following the completion of the transaction, the chief executive officer now owns 229,524 shares of the company’s stock, valued at approximately $13,656,678. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have made changes to their positions in the company. Russell Frank Co increased its position in shares of Qorvo by 68.5% in the fourth quarter. Russell Frank Co now owns 120,701 shares of the company’s stock worth $6,237,000 after buying an additional 49,060 shares during the period. Bank of Montreal Can increased its position in shares of Qorvo by 43.9% in the fourth quarter. Bank of Montreal Can now owns 419,889 shares of the company’s stock worth $21,373,000 after buying an additional 128,152 shares during the period. State of New Jersey Common Pension Fund D increased its position in shares of Qorvo by 6.8% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 783,740 shares of the company’s stock worth $39,892,000 after buying an additional 50,000 shares during the period. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position in shares of Qorvo by 5.5% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 19,797 shares of the company’s stock worth $1,008,000 after buying an additional 1,036 shares during the period. Finally, New York State Common Retirement Fund increased its position in shares of Qorvo by 0.9% in the fourth quarter. New York State Common Retirement Fund now owns 345,700 shares of the company’s stock worth $17,596,000 after buying an additional 3,000 shares during the period.

Qorvo, Inc provides core technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company offers amplification, filtering and switching products for RF, microwave and millimeter-wave applications. It serves the mobile device, networks infrastructure and defense and aerospace markets.

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