Robert A. Bruggeworth Sells 5,000 Shares of Qorvo, Inc. (QRVO) Stock
Qorvo, Inc. (NASDAQ:QRVO) insider Robert A. Bruggeworth sold 5,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $73.37, for a total value of $366,850.00. Following the completion of the transaction, the insider now directly owns 202,344 shares of the company’s stock, valued at $14,845,979.28. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Qorvo, Inc. (NASDAQ QRVO) traded down 1.51% on Monday, reaching $74.35. The company’s stock had a trading volume of 1,000,831 shares. The company’s market cap is $9.46 billion. The firm has a 50 day moving average of $58.03 and a 200 day moving average of $61.14. Qorvo, Inc. has a 52-week low of $48.28 and a 52-week high of $79.34.
Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.07. The company had revenue of $640.80 million during the quarter, compared to the consensus estimate of $632.18 million. Qorvo had a negative net margin of 1.40% and a positive return on equity of 10.10%. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.08 earnings per share. Analysts predict that Qorvo, Inc. will post $5.54 earnings per share for the current year.
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QRVO has been the subject of a number of recent research reports. Cowen and Company reissued a “market perform” rating and issued a $85.00 target price (up from $74.00) on shares of Qorvo in a report on Friday, May 26th. Needham & Company LLC increased their target price on Qorvo from $70.00 to $86.00 and gave the stock a “buy” rating in a report on Friday, May 26th. Mizuho reaffirmed a “neutral” rating and set a $72.00 price target (up from $68.00) on shares of Qorvo in a report on Sunday, May 28th. MKM Partners reaffirmed a “buy” rating and set a $90.00 price target (up from $78.00) on shares of Qorvo in a report on Tuesday, May 30th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $63.00 price target on shares of Qorvo in a report on Monday, June 12th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $73.45.
Several large investors have recently made changes to their positions in the company. Achmea Investment Management B.V. acquired a new position in shares of Qorvo during the second quarter worth $188,000. Sentry Investment Management LLC increased its holdings in shares of Qorvo by 1.4% during the second quarter. Sentry Investment Management LLC now owns 6,648 shares of the semiconductor company’s stock worth $421,000 after buying an additional 95 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of Qorvo by 26.1% during the second quarter. Toronto Dominion Bank now owns 43,048 shares of the semiconductor company’s stock worth $2,725,000 after buying an additional 8,911 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Qorvo during the second quarter worth $933,000. Finally, Verition Fund Management LLC acquired a new position in shares of Qorvo during the second quarter worth $1,300,000. Institutional investors own 94.34% of the company’s stock.
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).
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