Qorvo (NASDAQ:QRVO) SVP Sells $560,653.60 in Stock

Qorvo, Inc. (NASDAQ:QRVO) SVP Steven Creviston sold 4,810 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $116.56, for a total transaction of $560,653.60. Following the transaction, the senior vice president directly owned 114,641 shares of the company’s stock, valued at approximately $13,362,554.96. This trade represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Qorvo Stock Down 1.9%

NASDAQ QRVO opened at $117.18 on Friday. Qorvo, Inc. has a 1 year low of $74.92 and a 1 year high of $120.76. The stock has a market capitalization of $10.34 billion, a PE ratio of 27.19, a PEG ratio of 2.07 and a beta of 1.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.54 and a quick ratio of 2.68. The business’s 50-day moving average is $96.84 and its 200 day moving average is $91.49.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.53. The business had revenue of $784.79 million during the quarter, compared to analyst estimates of $743.28 million. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.Qorvo’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Sell-side analysts forecast that Qorvo, Inc. will post 6.42 earnings per share for the current year.

Institutional Investors Weigh In On Qorvo

Hedge funds have recently added to or reduced their stakes in the stock. Wedmont Private Capital grew its holdings in shares of Qorvo by 1.6% in the second quarter. Wedmont Private Capital now owns 10,247 shares of the semiconductor company’s stock worth $879,000 after acquiring an additional 162 shares during the period. Fifth Third Wealth Advisors LLC boosted its position in Qorvo by 4.4% in the first quarter. Fifth Third Wealth Advisors LLC now owns 3,955 shares of the semiconductor company’s stock worth $306,000 after purchasing an additional 167 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Qorvo by 14.6% during the 4th quarter. Larson Financial Group LLC now owns 1,483 shares of the semiconductor company’s stock valued at $125,000 after purchasing an additional 189 shares during the period. Optimize Financial Inc grew its stake in shares of Qorvo by 1.5% during the 4th quarter. Optimize Financial Inc now owns 15,024 shares of the semiconductor company’s stock valued at $1,270,000 after purchasing an additional 216 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of Qorvo by 29.6% during the 1st quarter. Parallel Advisors LLC now owns 1,230 shares of the semiconductor company’s stock valued at $95,000 after purchasing an additional 281 shares during the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

QRVO has been the subject of several research reports. TD Cowen restated a “hold” rating on shares of Qorvo in a report on Wednesday, July 29th. UBS Group boosted their price target on Qorvo from $91.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Citigroup reduced their price target on shares of Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Wall Street Zen raised Qorvo from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a research note on Friday, July 24th. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $94.00.

Qorvo Company Profile

Qorvo, Inc is a semiconductor company that develops and manufactures radio-frequency (RF) and related connectivity solutions. Its products are used to generate, filter, amplify and manage wireless signals in communications equipment and electronic devices.

The company supplies RF components, modules and integrated circuits for smartphones, cellular base stations, Wi-Fi equipment, automotive systems, Internet of Things devices, consumer electronics, and aerospace and defense applications.