Qorvo (NASDAQ:QRVO) SVP Frank Stewart Sells 8,279 Shares

Qorvo, Inc. (NASDAQ:QRVO) SVP Frank Stewart sold 8,279 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $94.72, for a total value of $784,186.88. Following the sale, the senior vice president directly owned 43,069 shares in the company, valued at approximately $4,079,495.68. The trade was a 16.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Qorvo Trading Up 4.4%

Qorvo stock opened at $100.63 on Thursday. The stock has a 50-day moving average price of $91.81 and a 200 day moving average price of $89.27. Qorvo, Inc. has a 52 week low of $74.92 and a 52 week high of $109.49. The stock has a market cap of $8.88 billion, a PE ratio of 23.35, a P/E/G ratio of 1.70 and a beta of 1.45. 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) last released its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.53. The company had revenue of $784.79 million for the quarter, compared to analyst estimates of $743.28 million. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Equities research analysts predict that Qorvo, Inc. will post 6.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on QRVO. UBS Group lifted their target price on shares of Qorvo from $91.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Wall Street Zen upgraded Qorvo from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. Citigroup lowered their price objective on Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. JPMorgan Chase & Co. upped their target price on Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, TD Cowen reiterated a “hold” rating on shares of Qorvo in a research report on Wednesday, July 29th. Three 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $94.00.

Hedge Funds Weigh In On Qorvo

A number of large investors have recently bought and sold shares of QRVO. Smartleaf Asset Management LLC increased its holdings in shares of Qorvo by 215.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock worth $29,000 after buying an additional 231 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in Qorvo during the second quarter valued at about $32,000. Advisory Services Network LLC acquired a new stake in Qorvo during the third quarter worth about $36,000. Elevation Wealth Partners LLC raised its holdings 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 worth $39,000 after purchasing an additional 310 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in shares of Qorvo by 60.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 180 shares during the period. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Company Profile

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.