Qorvo (NASDAQ:QRVO) SVP Sells $285,275.00 in Stock

Qorvo, Inc. (NASDAQ:QRVO) SVP Paul Fego sold 2,500 shares of Qorvo stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $114.11, for a total value of $285,275.00. Following the transaction, the senior vice president directly owned 74,460 shares in the company, valued at approximately $8,496,630.60. This trade represents a 3.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Qorvo Price Performance

Shares of NASDAQ QRVO opened at $119.51 on Friday. The stock has a market cap of $10.54 billion, a P/E ratio of 27.73, a P/E/G ratio of 1.97 and a beta of 1.45. Qorvo, Inc. has a twelve month low of $74.92 and a twelve month high of $120.52. The stock has a 50 day moving average of $96.22 and a two-hundred day moving average of $91.31. The company has a current ratio of 3.54, a quick ratio of 2.68 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (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 business had revenue of $784.79 million for the quarter, compared to analyst estimates of $743.28 million. During the same period last year, the firm posted $0.92 earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, research analysts forecast that Qorvo, Inc. will post 6.42 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of QRVO. 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. Allianz Asset Management GmbH grew its holdings in shares of Qorvo by 12.1% during the 2nd quarter. Allianz Asset Management GmbH now owns 825,960 shares of the semiconductor company’s stock worth $77,037,000 after purchasing an additional 89,378 shares during the period. LSV Asset Management increased its position in shares of Qorvo by 2.3% in the fourth 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 in the last quarter. Amundi increased its position in shares of 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. Finally, Paradigm Capital Management Inc. NY purchased a new position in shares of Qorvo in the 2nd quarter valued at $2,414,000. 88.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on QRVO shares. UBS Group increased their target price on shares of Qorvo from $91.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Wall Street Zen upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. Citigroup reduced their price objective on shares of Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Qorvo in a research note on Friday, July 24th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Qorvo in a report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $94.00.

About Qorvo

Qorvo, Inc is a semiconductor company that develops and manufactures radio-frequency (RF) and related connectivity solutions. Its products are used to generate, filter, amplify and manage wireless signals in communications equipment and electronic devices.

The company supplies RF components, modules and integrated circuits for smartphones, cellular base stations, Wi-Fi equipment, automotive systems, Internet of Things devices, consumer electronics, and aerospace and defense applications.