Peter Feld Sells 1,900,000 Shares of Qorvo (NASDAQ:QRVO) Stock

Qorvo, Inc. (NASDAQ:QRVO) Director Peter Feld sold 1,900,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $101.20, for a total value of $192,280,000.00. Following the transaction, the director owned 5,611,526 shares in the company, valued at $567,886,431.20. The trade was a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Qorvo Price Performance

Shares of QRVO traded up $2.77 on Tuesday, reaching $102.74. The stock had a trading volume of 2,016,709 shares, compared to its average volume of 1,231,656. Qorvo, Inc. has a twelve month low of $74.92 and a twelve month high of $109.49. The firm has a market capitalization of $9.04 billion, a PE ratio of 28.38, a PEG ratio of 1.56 and a beta of 1.43. The firm has a 50-day moving average of $87.63 and a 200 day moving average of $84.71. The company has a quick ratio of 2.46, a current ratio of 3.24 and a debt-to-equity ratio of 0.46.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.48. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The company had revenue of $808.28 million for the quarter, compared to the consensus estimate of $801.31 million. During the same quarter in the prior year, the firm earned $1.42 earnings per share. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Sell-side analysts expect that Qorvo, Inc. will post 5.87 EPS for the current year.

Institutional Trading of Qorvo

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Qorvo by 0.9% in the third quarter. Vanguard Group Inc. now owns 11,105,104 shares of the semiconductor company’s stock valued at $1,011,453,000 after acquiring an additional 100,058 shares in the last quarter. State Street Corp grew its holdings in Qorvo by 5.0% during the 2nd quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company’s stock valued at $314,516,000 after purchasing an additional 175,031 shares in the last quarter. FIL Ltd grew its holdings in Qorvo by 13.2% during the 4th quarter. FIL Ltd now owns 3,610,045 shares of the semiconductor company’s stock valued at $305,085,000 after purchasing an additional 421,224 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Qorvo by 16.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,181,479 shares of the semiconductor company’s stock worth $168,842,000 after buying an additional 311,645 shares during the period. Finally, Bank of America Corp DE lifted its holdings in 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 in the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wolfe Research cut Qorvo from an “outperform” rating to a “peer perform” rating in a report on Friday, April 17th. Craig Hallum reiterated a “buy” rating and set a $120.00 price objective on shares of Qorvo in a report on Wednesday, May 6th. Mizuho reissued an “underperform” rating and issued a $66.00 target price (down from $70.00) on shares of Qorvo in a research report on Monday, April 20th. UBS Group upped their price target on shares of Qorvo from $87.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. increased their price target on shares of Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Qorvo presently has a consensus rating of “Hold” and a consensus target price of $96.63.

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.