Qorvo Target of Unusually High Options Trading (NASDAQ:QRVO)

Qorvo, Inc. (NASDAQ:QRVO) was the target of unusually large options trading on Monday. Traders bought 17,257 call options on the company. This represents an increase of approximately 3,480% compared to the typical daily volume of 482 call options.

Qorvo Stock Performance

Shares of NASDAQ:QRVO traded up $4.52 during trading on Monday, reaching $102.94. The company had a trading volume of 989,582 shares, compared to its average volume of 1,287,138. Qorvo has a fifty-two week low of $74.92 and a fifty-two week high of $109.49. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.24 and a quick ratio of 2.46. The stock’s fifty day moving average price is $93.40 and its 200 day moving average price is $86.22. The firm has a market capitalization of $9.06 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 1.54 and a beta of 1.43.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.48. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.The firm had revenue of $808.28 million during the quarter, compared to the consensus estimate of $801.31 million. During the same period last year, the company earned $1.42 earnings per share. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, equities research analysts predict that Qorvo will post 5.84 EPS for the current year.

Insider Transactions at Qorvo

In other news, VP Gina Harrison sold 4,714 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $100.00, for a total value of $471,400.00. Following the completion of the sale, the vice president directly owned 24,429 shares of the company’s stock, valued at approximately $2,442,900. The trade was a 16.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Paul J. Fego sold 2,500 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the sale, the senior vice president directly owned 71,038 shares of the company’s stock, valued at approximately $7,103,800. This trade represents a 3.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,966,127 shares of company stock worth $198,911,103 over the last three months. 0.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Fred Alger Management LLC boosted its stake in shares of Qorvo by 5.3% during the 3rd quarter. Fred Alger Management LLC now owns 3,179 shares of the semiconductor company’s stock worth $290,000 after purchasing an additional 160 shares during the last quarter. Beacon Investment Advisory Services Inc. boosted its position in Qorvo by 5.7% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 3,001 shares of the semiconductor company’s stock worth $254,000 after acquiring an additional 161 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its stake in Qorvo by 4.4% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,955 shares of the semiconductor company’s stock worth $306,000 after acquiring an additional 167 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in Qorvo by 60.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 180 shares during the period. Finally, Larson Financial Group LLC raised its holdings in Qorvo by 14.6% in the 4th quarter. Larson Financial Group LLC now owns 1,483 shares of the semiconductor company’s stock valued at $125,000 after acquiring an additional 189 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Craig Hallum restated a “buy” rating and set a $120.00 target price on shares of Qorvo in a research report on Wednesday, May 6th. Zacks Research downgraded shares of Qorvo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 16th. Mizuho reiterated an “underperform” rating and set a $66.00 price target (down from $70.00) on shares of Qorvo in a research note on Monday, April 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Qorvo in a research report on Monday, April 27th. Finally, Wolfe Research cut shares of Qorvo from an “outperform” rating to a “peer perform” rating in a report on Friday, April 17th. Three equities research 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’s stock. According to MarketBeat.com, Qorvo presently has a consensus rating of “Hold” and an average price target of $96.62.

About Qorvo

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.