Qorvo (NASDAQ:QRVO) VP Steven E. Creviston sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, April 16th. The stock was sold at an average price of $72.75, for a total value of $436,500.00. Following the sale, the vice president now owns 64,725 shares of the company’s stock, valued at approximately $4,708,743.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
NASDAQ:QRVO opened at $70.63 on Friday. The firm has a market capitalization of $9,293.49, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 1.02 and a beta of 0.92. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.72 and a quick ratio of 3.62. Qorvo has a 1 year low of $62.68 and a 1 year high of $86.84.
Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.60 by $0.09. The firm had revenue of $845.70 million during the quarter, compared to analysts’ expectations of $841.09 million. Qorvo had a return on equity of 11.72% and a net margin of 0.95%. Qorvo’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.35 earnings per share. sell-side analysts anticipate that Qorvo will post 4.49 EPS for the current year.
Several equities research analysts have recently commented on the company. Nomura upgraded Qorvo from a “neutral” rating to a “buy” rating and upped their price target for the stock from $75.00 to $85.00 in a research note on Thursday, February 1st. Morgan Stanley upped their price target on Qorvo from $70.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 1st. Barclays upped their price target on Qorvo from $75.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 1st. BMO Capital Markets upped their price target on Qorvo from $63.00 to $70.00 and gave the stock a “market perform” rating in a research note on Thursday, February 1st. Finally, Canaccord Genuity upped their price target on Qorvo from $81.00 to $89.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $81.47.
Large investors have recently added to or reduced their stakes in the business. Penserra Capital Management LLC raised its position in Qorvo by 45.4% in the fourth quarter. Penserra Capital Management LLC now owns 2,660 shares of the semiconductor company’s stock worth $177,000 after acquiring an additional 831 shares in the last quarter. Wetherby Asset Management Inc. acquired a new stake in Qorvo in the fourth quarter valued at $209,000. Steward Partners Investment Advisory LLC acquired a new stake in Qorvo in the third quarter valued at $222,000. Kovack Advisors Inc. acquired a new stake in Qorvo in the fourth quarter valued at $255,000. Finally, IFM Investors Pty Ltd acquired a new stake in Qorvo in the third quarter valued at $289,000. Hedge funds and other institutional investors own 97.56% of the company’s stock.
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Qorvo Company Profile
Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PA), low noise amplifiers, switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.
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