Qorvo (NASDAQ:QRVO) CEO Sells $5,818,882.80 in Stock

Qorvo, Inc. (NASDAQ:QRVO) CEO Robert Bruggeworth sold 57,957 shares of Qorvo stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $100.40, for a total transaction of $5,818,882.80. Following the completion of the sale, the chief executive officer directly owned 319,880 shares of the company’s stock, valued at approximately $32,115,952. This trade represents a 15.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Qorvo Trading Down 0.7%

NASDAQ:QRVO opened at $103.97 on Friday. 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, Inc. has a 12 month low of $74.92 and a 12 month high of $109.49. The company has a market cap of $9.15 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 1.63 and a beta of 1.43. The company has a 50 day simple moving average of $89.13 and a two-hundred day simple moving average of $85.08.

Qorvo (NASDAQ:QRVO) last posted its 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. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The business had revenue of $808.28 million during the quarter, compared to the consensus estimate of $801.31 million. During the same quarter in the previous year, the firm posted $1.42 EPS. The firm’s revenue was down 7.0% on a year-over-year basis. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Research analysts forecast that Qorvo, Inc. will post 5.87 earnings per share for the current year.

Institutional Investors Weigh In On Qorvo

A number of hedge funds have recently modified their holdings of QRVO. Stance Capital LLC bought a new stake in shares of Qorvo during the 3rd quarter valued at $27,000. Smartleaf Asset Management LLC grew its position in shares of Qorvo by 215.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 231 shares during the period. Sound Income Strategies LLC grew its position in shares of Qorvo by 952.8% during the 4th quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 343 shares during the period. Advisory Services Network LLC bought a new stake in shares of Qorvo during the 3rd quarter valued at $36,000. Finally, Clearstead Advisors LLC grew its position in shares of Qorvo by 93.3% during the 3rd quarter. Clearstead Advisors LLC now owns 431 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 208 shares during the period. Institutional investors own 88.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on QRVO. Zacks Research downgraded shares of Qorvo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 16th. JPMorgan Chase & Co. lifted their target price on shares of Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Mizuho reaffirmed an “underperform” rating and issued a $66.00 target price (down from $70.00) on shares of Qorvo in a research report on Monday, April 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qorvo in a research report on Monday, April 27th. Finally, Citigroup boosted their price objective on shares of Qorvo from $90.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $96.63.

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.