Qorvo (NASDAQ:QRVO) SVP Sells 8,279 Shares

Qorvo, Inc. (NASDAQ:QRVO) SVP Frank Stewart sold 8,279 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $94.72, for a total value of $784,186.88. Following the completion of the transaction, the senior vice president directly owned 43,069 shares in the company, valued at $4,079,495.68. This trade represents a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Qorvo Stock Up 4.4%

Shares of QRVO stock traded up $4.23 during mid-day trading on Wednesday, hitting $100.63. The company’s stock had a trading volume of 1,259,957 shares, compared to its average volume of 1,257,188. The stock has a market cap of $8.88 billion, a price-to-earnings ratio of 23.35 and a beta of 1.44. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.68 and a current ratio of 3.54. Qorvo, Inc. has a 52-week low of $74.92 and a 52-week high of $109.49. The business has a 50-day moving average price of $91.74 and a 200 day moving average price of $89.14.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Fred Alger Management LLC grew its stake in 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 in the last quarter. Wedmont Private Capital raised its position in Qorvo by 1.6% in the 2nd quarter. Wedmont Private Capital now owns 10,247 shares of the semiconductor company’s stock valued at $879,000 after purchasing an additional 162 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in shares of Qorvo by 4.4% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,955 shares of the semiconductor company’s stock valued at $306,000 after buying an additional 167 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in shares of Qorvo by 60.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 180 shares during the period. Finally, Larson Financial Group LLC grew its position in shares of Qorvo by 14.6% during the fourth quarter. Larson Financial Group LLC now owns 1,483 shares of the semiconductor company’s stock worth $125,000 after buying an additional 189 shares in the last quarter. Institutional investors own 88.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded Qorvo from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. UBS Group raised their price objective on shares of Qorvo from $91.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Citigroup cut their target price 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. JPMorgan Chase & Co. upped their target price on shares of Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Craig Hallum reiterated a “buy” rating and issued a $120.00 price target on shares of Qorvo in a research report on Wednesday, May 6th. 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 company’s stock. According to MarketBeat.com, Qorvo currently has an average rating of “Hold” and an average price target of $94.00.

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.