Insider Selling: Qorvo (NASDAQ:QRVO) VP Sells $471,400.00 in Stock

Qorvo, Inc. (NASDAQ:QRVO) VP Gina Harrison sold 4,714 shares of Qorvo stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $471,400.00. Following the sale, the vice president directly owned 24,429 shares of the company’s stock, valued at approximately $2,442,900. This trade represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Gina Harrison also recently made the following trade(s):

• On Tuesday, May 19th, Gina Harrison sold 956 shares of Qorvo stock. The stock was sold at an average price of $95.00, for a total value of $90,820.00.

Qorvo Stock Up 2.4%

Qorvo stock opened at $106.42 on Friday. The business has a fifty day moving average of $86.66 and a two-hundred day moving average of $84.50. The company has a quick ratio of 2.46, a current ratio of 3.24 and a debt-to-equity ratio of 0.46. The firm has a market cap of $9.37 billion, a P/E ratio of 29.40, a P/E/G ratio of 1.62 and a beta of 1.42. Qorvo, Inc. has a twelve month low of $74.03 and a twelve month high of $109.49.

Qorvo (NASDAQ:QRVO) last posted its 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 company had revenue of $808.28 million during the quarter, compared to analyst estimates of $801.31 million. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.Qorvo’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.42 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, analysts forecast that Qorvo, Inc. will post 5.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in QRVO. Bank of America Corp DE grew its stake in Qorvo by 801.4% during the 1st quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company’s stock worth $136,795,000 after buying an additional 1,571,303 shares during the last quarter. AQR Arbitrage LLC purchased a new position in Qorvo during the 4th quarter worth $118,204,000. Norges Bank purchased a new position in Qorvo during the 4th quarter worth $92,430,000. Marshall Wace LLP grew its stake in Qorvo by 16,066.5% during the 3rd quarter. Marshall Wace LLP now owns 814,630 shares of the semiconductor company’s stock worth $74,197,000 after buying an additional 809,591 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in Qorvo during the 3rd quarter worth $66,594,000. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on QRVO shares. JPMorgan Chase & Co. upped their target price on Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Wolfe Research lowered Qorvo from an “outperform” rating to a “peer perform” rating in a report on Friday, April 17th. Barclays upgraded Qorvo from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $95.00 to $100.00 in a report on Wednesday, April 22nd. Zacks Research lowered Qorvo from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Finally, Craig Hallum restated a “buy” rating and set a $120.00 target price on shares of Qorvo in a report on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average 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.