Qorvo (NASDAQ:QRVO) SVP Steven Creviston Sells 4,810 Shares of Stock

Qorvo, Inc. (NASDAQ:QRVO) SVP Steven Creviston sold 4,810 shares of Qorvo stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $116.56, for a total value of $560,653.60. Following the completion of the sale, the senior vice president directly owned 114,641 shares in the company, valued at approximately $13,362,554.96. The trade was a 4.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Qorvo Stock Down 3.5%

NASDAQ QRVO opened at $113.97 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.68 and a current ratio of 3.54. The company has a market capitalization of $10.05 billion, a P/E ratio of 26.44, a P/E/G ratio of 2.04 and a beta of 1.45. Qorvo, Inc. has a one year low of $74.92 and a one year high of $120.52. The stock has a 50 day moving average price of $95.53 and a 200-day moving average price of $91.05.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.53. The firm had revenue of $784.79 million during 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%. Qorvo’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the firm posted $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, equities analysts predict that Qorvo, Inc. will post 6.42 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on QRVO. Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a research report on Friday, July 24th. Wall Street Zen upgraded Qorvo from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. UBS Group boosted their price objective on Qorvo from $91.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Citigroup decreased their price objective on Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Qorvo in a research note on Wednesday, July 29th. Three investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $94.00.

Institutional Investors Weigh In On Qorvo

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Qorvo during the 2nd quarter worth about $942,610,000. Dimensional Fund Advisors LP raised its position in Qorvo by 16.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,181,479 shares of the semiconductor company’s stock worth $168,842,000 after purchasing an additional 311,645 shares during the period. Bank of America Corp DE bought a new stake in Qorvo in the second quarter worth about $182,131,000. LSV Asset Management boosted its position in shares of Qorvo by 2.3% during the fourth quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock valued at $131,452,000 after buying an additional 34,605 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Qorvo by 435.0% during the second quarter. Assenagon Asset Management S.A. now owns 1,183,896 shares of the semiconductor company’s stock valued at $110,422,000 after buying an additional 962,593 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Company Profile

Qorvo, Inc is a semiconductor company that develops and manufactures radio-frequency (RF) and related connectivity solutions. Its products are used to generate, filter, amplify and manage wireless signals in communications equipment and electronic devices.

The company supplies RF components, modules and integrated circuits for smartphones, cellular base stations, Wi-Fi equipment, automotive systems, Internet of Things devices, consumer electronics, and aerospace and defense applications.