Gina Harrison Sells 4,714 Shares of Qorvo (NASDAQ:QRVO) Stock

Qorvo, Inc. (NASDAQ:QRVO) VP Gina Harrison sold 4,714 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $100.00, for a total transaction of $471,400.00. Following the sale, the vice president directly owned 24,429 shares in the company, valued at $2,442,900. This represents a 16.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Gina Harrison also recently made the following trade(s):

• On Tuesday, May 19th, Gina Harrison sold 956 shares of Qorvo stock. The stock was sold at an average price of $95.00, for a total transaction of $90,820.00.

Qorvo Stock Down 4.0%

Shares of QRVO opened at $103.91 on Thursday. The stock has a market capitalization of $9.15 billion, a PE ratio of 28.70, a P/E/G ratio of 1.69 and a beta of 1.42. Qorvo, Inc. has a 1 year low of $74.03 and a 1 year high of $109.49. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.46 and a current ratio of 3.24. The company’s 50-day simple moving average is $86.09 and its 200-day simple moving average is $84.36.

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

Analyst Upgrades and Downgrades

QRVO has been the topic of several analyst reports. TD Cowen reduced their target price on shares of Qorvo from $95.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, January 28th. Morgan Stanley set a $84.00 target price on shares of Qorvo in a report on Wednesday, January 28th. Craig Hallum reaffirmed a “buy” rating and issued a $120.00 target price on shares of Qorvo in a report on Wednesday, May 6th. Zacks Research cut shares of Qorvo from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Qorvo in a report on Wednesday, January 28th. Three investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Qorvo presently has an average rating of “Hold” and a consensus price target of $96.63.

Hedge Funds Weigh In On Qorvo

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Qorvo by 0.9% in the third quarter. Vanguard Group Inc. now owns 11,105,104 shares of the semiconductor company’s stock valued at $1,011,453,000 after purchasing an additional 100,058 shares during the last quarter. State Street Corp increased its stake in Qorvo by 5.0% in the second quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company’s stock valued at $314,516,000 after purchasing an additional 175,031 shares during the last quarter. FIL Ltd increased its stake in Qorvo by 13.2% in the fourth quarter. FIL Ltd now owns 3,610,045 shares of the semiconductor company’s stock valued at $305,085,000 after purchasing an additional 421,224 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Qorvo by 16.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,181,479 shares of the semiconductor company’s stock valued at $168,842,000 after purchasing an additional 311,645 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Qorvo by 801.4% in the first quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company’s stock valued at $136,795,000 after purchasing an additional 1,571,303 shares during 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.