Roderick Nelson Sells 860 Shares of Qorvo, Inc. (QRVO) Stock
Qorvo, Inc. (NASDAQ:QRVO) Director Roderick Nelson sold 860 shares of the stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $69.03, for a total transaction of $59,365.80. Following the completion of the transaction, the director now directly owns 3,762 shares in the company, valued at $259,690.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Qorvo, Inc. (QRVO) traded down $0.84 during mid-day trading on Friday, reaching $67.88. 2,018,438 shares of the company’s stock traded hands, compared to its average volume of 1,244,139. The company has a current ratio of 3.80, a quick ratio of 2.71 and a debt-to-equity ratio of 0.20. Qorvo, Inc. has a 52-week low of $52.05 and a 52-week high of $81.20. The company has a market cap of $8,630.81, a price-to-earnings ratio of 16.97, a P/E/G ratio of 1.14 and a beta of 1.02.
Qorvo (NASDAQ:QRVO) last released its earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 EPS for the quarter, meeting the consensus estimate of $1.52. Qorvo had a negative net margin of 0.59% and a positive return on equity of 10.77%. The firm had revenue of $821.60 million for the quarter, compared to analyst estimates of $810.47 million. During the same period last year, the firm earned $1.29 EPS. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. equities research analysts forecast that Qorvo, Inc. will post 4.74 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Qorvo by 16.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 433,541 shares of the semiconductor company’s stock valued at $27,452,000 after buying an additional 59,712 shares during the period. American Century Companies Inc. bought a new position in Qorvo in the 2nd quarter valued at about $814,000. Toronto Dominion Bank increased its holdings in Qorvo by 26.1% in the 2nd quarter. Toronto Dominion Bank now owns 43,048 shares of the semiconductor company’s stock valued at $2,725,000 after buying an additional 8,911 shares during the period. Janus Henderson Group PLC increased its holdings in Qorvo by 424.0% in the 2nd quarter. Janus Henderson Group PLC now owns 77,882 shares of the semiconductor company’s stock valued at $4,932,000 after buying an additional 63,019 shares during the period. Finally, Robecosam AG increased its holdings in Qorvo by 17.9% in the 2nd quarter. Robecosam AG now owns 165,000 shares of the semiconductor company’s stock valued at $10,608,000 after buying an additional 25,000 shares during the period. 96.74% of the stock is currently owned by hedge funds and other institutional investors.
QRVO has been the topic of several research analyst reports. Northland Securities lowered shares of Qorvo from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 2nd. BidaskClub lowered shares of Qorvo from a “hold” rating to a “sell” rating in a research report on Wednesday. J P Morgan Chase & Co set a $88.00 price objective on shares of Qorvo and gave the company a “buy” rating in a research report on Wednesday, November 15th. Citigroup increased their price objective on shares of Qorvo from $69.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Finally, Nomura assumed coverage on shares of Qorvo in a research report on Tuesday, September 5th. They issued a “neutral” rating and a $75.00 price objective on the stock. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. Qorvo has a consensus rating of “Hold” and a consensus price target of $76.74.
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Qorvo Company Profile
Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).
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