Qorvo, Inc. (NASDAQ:QRVO) Director Walter H. Wilkinson sold 15,925 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $80.02, for a total value of $1,274,318.50. Following the transaction, the director now directly owns 62,480 shares in the company, valued at approximately $4,999,649.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Qorvo, Inc. (QRVO) traded down $1.38 during mid-day trading on Thursday, reaching $68.72. 1,864,638 shares of the company’s stock traded hands, compared to its average volume of 1,506,153. The stock has a market cap of $9,126.69, a PE ratio of 17.94, a P/E/G ratio of 1.21 and a beta of 1.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.80 and a quick ratio of 2.71. Qorvo, Inc. has a 12-month low of $52.05 and a 12-month high of $81.20.
Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported $1.52 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.52. Qorvo had a negative net margin of 0.59% and a positive return on equity of 10.77%. The company had revenue of $821.60 million during the quarter, compared to analysts’ expectations of $810.47 million. During the same period in the previous year, the company earned $1.29 EPS. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. equities analysts anticipate that Qorvo, Inc. will post 4.74 earnings per share for the current year.
A number of brokerages recently commented on QRVO. BidaskClub downgraded 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 lifted their price target 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. Canaccord Genuity lifted their price target on shares of Qorvo from $81.00 to $87.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Finally, Morgan Stanley lifted their price target on shares of Qorvo from $68.00 to $69.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $76.74.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Penserra Capital Management LLC purchased a new stake in shares of Qorvo during the 3rd quarter valued at $130,000. Federated Investors Inc. PA lifted its holdings in shares of Qorvo by 4.0% during the 2nd quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock valued at $147,000 after acquiring an additional 90 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Qorvo by 79.9% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,252 shares of the semiconductor company’s stock valued at $159,000 after acquiring an additional 1,000 shares in the last quarter. Advisor Group Inc. lifted its holdings in shares of Qorvo by 5.1% during the 2nd quarter. Advisor Group Inc. now owns 2,584 shares of the semiconductor company’s stock valued at $164,000 after acquiring an additional 126 shares in the last quarter. Finally, Global X Management Co. LLC lifted its holdings in shares of Qorvo by 400.9% during the 2nd quarter. Global X Management Co. LLC now owns 2,795 shares of the semiconductor company’s stock valued at $177,000 after acquiring an additional 2,237 shares in the last quarter. 96.74% of the stock is owned by institutional investors.
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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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