Qorvo (NASDAQ:QRVO) CEO Robert Bruggeworth Sells 28,744 Shares

Qorvo, Inc. (NASDAQ:QRVO) CEO Robert Bruggeworth sold 28,744 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $100.87, for a total value of $2,899,407.28. Following the completion of the transaction, the chief executive officer owned 325,546 shares in the company, valued at approximately $32,837,825.02. This trade represents a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Qorvo Trading Down 0.2%

QRVO traded down $0.25 on Thursday, reaching $100.38. 1,071,475 shares of the company’s stock were exchanged, compared to its average volume of 1,256,104. The company’s 50 day moving average is $91.81 and its 200-day moving average is $89.27. The company has a market cap of $8.86 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 1.70 and a beta of 1.45. Qorvo, Inc. has a twelve month low of $74.92 and a twelve month high of $109.49. 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 (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share for the quarter, beating 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 firm had revenue of $784.79 million for the quarter, compared to analysts’ expectations of $743.28 million. During the same period in the previous year, the company posted $0.92 earnings per share. Qorvo’s revenue was down 4.2% compared to the same quarter last year. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Equities analysts predict that Qorvo, Inc. will post 6.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Craig Hallum restated a “buy” rating and set a $120.00 price objective on shares of Qorvo in a research note on Wednesday, May 6th. TD Cowen reaffirmed a “hold” rating on shares of Qorvo in a research report on Wednesday, July 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Qorvo in a research note on Friday, July 24th. Finally, Citigroup dropped their target price on Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Qorvo presently has a consensus rating of “Hold” and a consensus target price of $94.00.

Institutional Investors Weigh In On Qorvo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 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 valued at $290,000 after purchasing an additional 160 shares in the last quarter. Wedmont Private Capital raised its position in shares of 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% during 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 last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in shares of Qorvo by 60.0% during 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 last quarter. 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. Hedge funds and other institutional investors own 88.57% of the company’s stock.

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.