Gina Harrison Sells 956 Shares of Qorvo (NASDAQ:QRVO) Stock

Qorvo, Inc. (NASDAQ:QRVO) VP Gina Harrison sold 956 shares of Qorvo stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $95.00, for a total value of $90,820.00. Following the sale, the vice president owned 29,143 shares in the company, valued at $2,768,585. This trade represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Qorvo Stock Performance

Shares of Qorvo stock opened at $97.74 on Friday. The business’s fifty day simple moving average is $83.87 and its 200 day simple moving average is $83.89. The firm has a market capitalization of $8.60 billion, a P/E ratio of 27.00, a price-to-earnings-growth ratio of 1.54 and a beta of 1.42. Qorvo, Inc. has a 12 month low of $73.00 and a 12 month high of $106.30. The company has a current ratio of 3.24, a quick ratio of 2.46 and a debt-to-equity ratio of 0.46.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.48. The business had revenue of $808.28 million for the quarter, compared to analyst estimates of $801.31 million. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.Qorvo’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period last year, the company posted $1.42 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, analysts anticipate that Qorvo, Inc. will post 5.87 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Morgan Stanley set a $84.00 target price on Qorvo in a research note on Wednesday, January 28th. Craig Hallum restated a “buy” rating and issued a $120.00 target price on shares of Qorvo in a research note on Wednesday, May 6th. Benchmark restated a “hold” rating on shares of Qorvo in a research note on Wednesday, January 28th. UBS Group boosted their target price on Qorvo from $87.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, Piper Sandler restated a “neutral” rating on shares of Qorvo in a research note on Wednesday, January 28th. Three equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Qorvo currently has a consensus rating of “Hold” and an average target price of $96.63.

Hedge Funds Weigh In On Qorvo

Several hedge funds have recently made changes to their positions in QRVO. Nisa Investment Advisors LLC purchased a new position in shares of Qorvo in the third quarter valued at $25,000. Winnow Wealth LLC purchased a new position in shares of Qorvo in the third quarter valued at $27,000. Stance Capital LLC purchased a new position in shares of Qorvo in the third quarter valued at $27,000. Smartleaf Asset Management LLC grew its position in shares of Qorvo by 215.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 231 shares in the last quarter. Finally, Sound Income Strategies LLC grew its position in shares of Qorvo by 952.8% in the fourth quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 343 shares in the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

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.