Qorvo Inc (NASDAQ:QRVO) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 4,204,000 shares, an increase of 6.3% from the July 31st total of 3,956,000 shares. Based on an average trading volume of 1,330,000 shares, the short-interest ratio is presently 3.2 days. Approximately 3.6% of the company’s shares are sold short.

Several equities analysts have commented on QRVO shares. BidaskClub raised Qorvo from a “hold” rating to a “buy” rating in a research report on Thursday. DA Davidson raised Qorvo from a “sell” rating to a “neutral” rating and set a $74.00 price objective for the company in a research report on Monday, August 5th. Canaccord Genuity reissued a “buy” rating and set a $76.00 price objective (down previously from $87.00) on shares of Qorvo in a research report on Tuesday, May 21st. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of Qorvo in a research report on Monday, August 5th. Finally, Cowen reissued a “market perform” rating and set a $75.00 price objective (up previously from $65.00) on shares of Qorvo in a research report on Friday, August 2nd. Thirteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Qorvo has a consensus rating of “Hold” and an average price target of $77.45.

Shares of QRVO traded down $0.29 during trading hours on Friday, hitting $77.51. The company had a trading volume of 895,210 shares, compared to its average volume of 1,152,199. The firm has a fifty day moving average price of $72.42 and a 200-day moving average price of $70.37. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.30 and a current ratio of 3.44. The stock has a market capitalization of $9.16 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 1.91 and a beta of 1.09. Qorvo has a 52-week low of $54.74 and a 52-week high of $79.29.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.23. The firm had revenue of $775.60 million during the quarter, compared to analyst estimates of $738.98 million. Qorvo had a return on equity of 15.77% and a net margin of 6.39%. Qorvo’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 EPS. Research analysts anticipate that Qorvo will post 4.3 earnings per share for the current fiscal year.

In related news, Director Roderick Nelson sold 500 shares of Qorvo stock in a transaction on Friday, August 9th. The shares were sold at an average price of $69.85, for a total value of $34,925.00. Following the sale, the director now owns 4,782 shares in the company, valued at $334,022.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Walter H. Wilkinson sold 3,000 shares of Qorvo stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $74.25, for a total transaction of $222,750.00. Following the completion of the sale, the director now owns 39,327 shares in the company, valued at approximately $2,920,029.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,633 shares of company stock worth $2,312,438. 0.71% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. ETF Managers Group LLC raised its position in shares of Qorvo by 7.9% in the 1st quarter. ETF Managers Group LLC now owns 2,031 shares of the semiconductor company’s stock worth $146,000 after purchasing an additional 149 shares during the last quarter. Commonwealth Equity Services LLC raised its position in Qorvo by 2.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 7,832 shares of the semiconductor company’s stock worth $521,000 after buying an additional 158 shares during the last quarter. Diversified Trust Co raised its position in Qorvo by 4.0% in the 1st quarter. Diversified Trust Co now owns 4,507 shares of the semiconductor company’s stock worth $323,000 after buying an additional 172 shares during the last quarter. Commerce Bank raised its position in Qorvo by 6.2% in the 2nd quarter. Commerce Bank now owns 3,637 shares of the semiconductor company’s stock worth $242,000 after buying an additional 212 shares during the last quarter. Finally, World Asset Management Inc raised its position in Qorvo by 3.2% in the 2nd quarter. World Asset Management Inc now owns 8,179 shares of the semiconductor company’s stock worth $545,000 after buying an additional 253 shares during the last quarter. 91.52% of the stock is owned by hedge funds and other institutional investors.

Qorvo Company Profile

Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.

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