Qorvo Inc (NASDAQ:QRVO) VP Steven E. Creviston sold 3,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $68.87, for a total transaction of $206,610.00. Following the completion of the sale, the vice president now owns 55,006 shares of the company’s stock, valued at approximately $3,788,263.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of NASDAQ:QRVO opened at $68.65 on Friday. Qorvo Inc has a one year low of $54.74 and a one year high of $86.50. The company has a quick ratio of 2.78, a current ratio of 3.90 and a debt-to-equity ratio of 0.16. The company has a market cap of $8.43 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 1.27 and a beta of 0.90.
Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Thursday, February 7th. The semiconductor company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.30. Qorvo had a net margin of 1.92% and a return on equity of 14.11%. The business had revenue of $832.20 million for the quarter, compared to analyst estimates of $819.21 million. During the same quarter last year, the firm earned $1.69 EPS. Qorvo’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, equities research analysts forecast that Qorvo Inc will post 5.03 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. Resources Investment Advisors Inc. acquired a new position in Qorvo during the fourth quarter worth $27,000. CSat Investment Advisory L.P. grew its stake in shares of Qorvo by 82.9% in the fourth quarter. CSat Investment Advisory L.P. now owns 534 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 242 shares in the last quarter. Enlightenment Research LLC acquired a new position in shares of Qorvo in the fourth quarter valued at about $43,000. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Qorvo by 272.8% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,592 shares of the semiconductor company’s stock valued at $97,000 after acquiring an additional 1,165 shares in the last quarter. Finally, ETF Managers Group LLC lifted its position in Qorvo by 17.8% during the fourth quarter. ETF Managers Group LLC now owns 1,882 shares of the semiconductor company’s stock worth $114,000 after purchasing an additional 284 shares during the period. 94.09% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently issued reports on QRVO. Craig Hallum upgraded Qorvo from a “hold” rating to a “buy” rating and cut their price objective for the stock from $74.00 to $72.00 in a research report on Thursday, January 10th. JPMorgan Chase & Co. set a $98.00 target price on shares of Qorvo and gave the stock a “buy” rating in a research note on Wednesday, December 12th. Zacks Investment Research cut shares of Qorvo from a “buy” rating to a “sell” rating in a research note on Thursday, November 15th. Cowen reissued a “market perform” rating and set a $71.00 price objective (down from $75.00) on shares of Qorvo in a research note on Thursday, November 29th. Finally, Susquehanna Bancshares began coverage on shares of Qorvo in a report on Friday, December 7th. They set a “neutral” rating and a $70.00 target price on the stock. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and ten have given a buy rating to the company. Qorvo has an average rating of “Hold” and an average price target of $76.05.
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 (PAs), low noise amplifiers (LNAs), 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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