Qorvo Inc. (QRVO) Director Sells $624,750.00 in Stock
Qorvo Inc. (NASDAQ:QRVO) Director John R. Harding sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $49.98, for a total transaction of $624,750.00. Following the completion of the transaction, the director now directly owns 19,320 shares in the company, valued at approximately $965,613.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Qorvo Inc. (NASDAQ:QRVO) opened at 53.52 on Monday. The company’s market capitalization is $6.84 billion. Qorvo Inc. has a 52-week low of $33.30 and a 52-week high of $64.80. The firm’s 50-day moving average is $54.42 and its 200-day moving average is $54.20.
Qorvo (NASDAQ:QRVO) last issued its earnings results on Thursday, November 3rd. The company reported $1.29 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by $0.12. Qorvo had a positive return on equity of 9.60% and a negative net margin of 1.04%. The firm had revenue of $863.70 million for the quarter, compared to analyst estimates of $834.77 million. During the same period in the previous year, the company earned $1.22 earnings per share. Qorvo’s revenue for the quarter was up 22.2% compared to the same quarter last year. On average, equities research analysts forecast that Qorvo Inc. will post $4.67 EPS for the current year.
Several institutional investors have recently modified their holdings of the company. Acrospire Investment Management LLC raised its position in shares of Qorvo by 16.7% in the third quarter. Acrospire Investment Management LLC now owns 2,100 shares of the company’s stock worth $117,000 after buying an additional 300 shares during the last quarter. Advisor Group Inc. purchased a new position in shares of Qorvo during the second quarter worth $145,000. Victory Capital Management Inc. raised its position in shares of Qorvo by 43.8% in the third quarter. Victory Capital Management Inc. now owns 2,677 shares of the company’s stock worth $149,000 after buying an additional 815 shares during the last quarter. Wunderlich Capital Managemnt raised its position in shares of Qorvo by 43.6% in the second quarter. Wunderlich Capital Managemnt now owns 3,101 shares of the company’s stock worth $171,000 after buying an additional 942 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Qorvo during the second quarter worth $206,000. 87.43% of the stock is currently owned by institutional investors.
A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Qorvo in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $62.00 price target (down from $63.00) on shares of Qorvo in a research report on Monday, November 7th. Drexel Hamilton increased their price target on shares of Qorvo from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, August 3rd. MKM Partners increased their price target on shares of Qorvo from $64.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Finally, Cowen and Company cut their price target on shares of Qorvo from $65.00 to $53.00 and set a “market perform” rating on the stock in a research report on Friday, November 4th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $60.67.
Qorvo Company Profile
Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).
Receive News & Stock Ratings for Qorvo Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qorvo Inc. and related stocks with our FREE daily email newsletter.