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

Qorvo, Inc. (NASDAQ:QRVO) SVP Steven Creviston sold 4,810 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $100.87, for a total transaction of $485,184.70. Following the completion of the transaction, the senior vice president directly owned 119,451 shares in the company, valued at $12,049,022.37. This trade represents a 3.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Qorvo Stock Performance

Shares of Qorvo stock traded down $0.25 on Thursday, reaching $100.38. 1,071,475 shares of the company traded hands, compared to its average volume of 1,256,104. Qorvo, Inc. has a 52 week low of $74.92 and a 52 week high of $109.49. The company has a 50 day moving average of $91.81 and a 200 day moving average of $89.27. The firm has a market capitalization of $8.86 billion, a PE ratio of 23.29, a PEG ratio of 1.70 and a beta of 1.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.54 and a quick ratio of 2.68.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.53. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. The company had revenue of $784.79 million for the quarter, compared to analysts’ expectations of $743.28 million. During the same quarter in the previous year, the firm posted $0.92 EPS. Qorvo’s revenue was down 4.2% on a year-over-year basis. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Equities analysts forecast that Qorvo, Inc. will post 6.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Craig Hallum reiterated a “buy” rating and set a $120.00 price target on shares of Qorvo in a research note on Wednesday, May 6th. Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a research note on Friday, July 24th. TD Cowen reissued a “hold” rating on shares of Qorvo in a research report on Wednesday, July 29th. JPMorgan Chase & Co. raised their price objective on shares of Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, UBS Group boosted their target price on shares of Qorvo from $91.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $94.00.

Institutional Investors Weigh In On Qorvo

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE increased its holdings in shares of Qorvo by 801.4% in the 1st quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company’s stock worth $136,795,000 after buying an additional 1,571,303 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Qorvo by 2.3% during the 4th quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock worth $131,452,000 after acquiring an additional 34,605 shares during the last quarter. Amundi grew its position in Qorvo by 197.2% in the first quarter. Amundi now owns 772,352 shares of the semiconductor company’s stock worth $59,780,000 after acquiring an additional 512,475 shares in the last quarter. Credit Industriel ET Commercial purchased a new position in Qorvo in the fourth quarter worth $5,223,000. Finally, Fieldview Capital Management LLC increased its stake in Qorvo by 570.1% in the fourth quarter. Fieldview Capital Management LLC now owns 24,352 shares of the semiconductor company’s stock valued at $2,058,000 after acquiring an additional 20,718 shares during the last quarter. 88.57% of the stock is 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.