Qorvo, Inc. (NASDAQ:QRVO) CEO Robert A. Bruggeworth Sells 4,721 Shares

Qorvo, Inc. (NASDAQ:QRVO) CEO Robert A. Bruggeworth sold 4,721 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $100.00, for a total value of $472,100.00. Following the completion of the sale, the chief executive officer now directly owns 205,440 shares of the company’s stock, valued at $20,544,000. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Qorvo Stock Performance

Shares of QRVO stock traded up $1.43 during trading on Friday, hitting $98.29. The company’s stock had a trading volume of 1,000,075 shares, compared to its average volume of 1,322,378. The company has a market cap of $9.40 billion, a PE ratio of -134.52, a P/E/G ratio of 0.96 and a beta of 1.53. The company has a current ratio of 1.99, a quick ratio of 1.41 and a debt-to-equity ratio of 0.44. The business has a fifty day moving average of $108.08 and a 200-day moving average of $106.53. Qorvo, Inc. has a 52 week low of $80.62 and a 52 week high of $121.65.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.21 by $0.18. Qorvo had a positive return on equity of 13.43% and a negative net margin of 1.86%. The business had revenue of $941.00 million for the quarter, compared to the consensus estimate of $927.24 million. During the same quarter in the prior year, the business earned $0.11 earnings per share. Qorvo’s revenue for the quarter was up 48.7% on a year-over-year basis. As a group, research analysts anticipate that Qorvo, Inc. will post 5.16 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Mizuho decreased their target price on Qorvo from $115.00 to $105.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Susquehanna decreased their price objective on Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. JPMorgan Chase & Co. decreased their price objective on Qorvo from $105.00 to $100.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. StockNews.com lowered Qorvo from a “buy” rating to a “hold” rating in a report on Saturday, May 11th. Finally, Raymond James boosted their price objective on Qorvo from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $110.83.

Hedge Funds Weigh In On Qorvo

Several institutional investors have recently bought and sold shares of QRVO. Park Place Capital Corp lifted its position in shares of Qorvo by 398.1% during the first quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 207 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of Qorvo during the first quarter worth $40,000. Fidelis Capital Partners LLC purchased a new stake in shares of Qorvo during the first quarter worth $58,000. Huntington National Bank lifted its position in shares of Qorvo by 8,090.0% during the third quarter. Huntington National Bank now owns 819 shares of the semiconductor company’s stock worth $78,000 after acquiring an additional 809 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new stake in shares of Qorvo during the fourth quarter worth $104,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

About Qorvo

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.