Insider Selling: Qorvo (NASDAQ:QRVO) Director Sells $192,280,000.00 in Stock

Qorvo, Inc. (NASDAQ:QRVO) Director Peter Feld sold 1,900,000 shares of the company’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 directly owned 5,611,526 shares in the company, valued at approximately $567,886,431.20. This trade represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Qorvo Stock Down 0.7%

QRVO stock opened at $103.97 on Friday. The stock’s 50 day simple moving average is $89.13 and its 200 day simple moving average is $85.08. Qorvo, Inc. has a fifty-two week low of $74.92 and a fifty-two week high of $109.49. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.46 and a current ratio of 3.24. The company has a market cap of $9.15 billion, a P/E ratio of 28.72, a price-to-earnings-growth ratio of 1.63 and a beta of 1.43.

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

Institutional Trading of Qorvo

Several hedge funds have recently added to or reduced their stakes in the stock. E20 Capital Ltd bought a new stake in Qorvo in the first quarter worth about $21,127,000. Bank of America Corp DE raised its position in Qorvo by 801.4% in the first quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company’s stock worth $136,795,000 after acquiring an additional 1,571,303 shares during the period. Janus Henderson Group PLC raised its position in Qorvo by 19.1% in the first quarter. Janus Henderson Group PLC now owns 548,859 shares of the semiconductor company’s stock worth $42,473,000 after acquiring an additional 88,070 shares during the period. Amundi raised its position in Qorvo by 197.2% in the first quarter. Amundi now owns 772,352 shares of the semiconductor company’s stock worth $59,780,000 after acquiring an additional 512,475 shares during the period. Finally, California State Teachers Retirement System grew its holdings in Qorvo by 21.6% during the first quarter. California State Teachers Retirement System now owns 101,540 shares of the semiconductor company’s stock valued at $7,859,000 after purchasing an additional 18,029 shares during the period. Institutional investors own 88.57% of the company’s stock.

Analyst Upgrades and Downgrades

QRVO has been the subject of a number of recent research reports. UBS Group boosted their price objective on Qorvo from $87.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Mizuho reissued an “underperform” rating and set a $66.00 price objective (down from $70.00) on shares of Qorvo in a report on Monday, April 20th. JPMorgan Chase & Co. boosted their price objective on Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Zacks Research lowered Qorvo from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Finally, Craig Hallum reissued a “buy” rating and set a $120.00 price objective on shares of Qorvo in a report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Qorvo has a consensus rating of “Hold” and a consensus price target 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.