Gina Harrison Sells 956 Shares of Qorvo (NASDAQ:QRVO) Stock

Qorvo, Inc. (NASDAQ:QRVO) VP Gina Harrison sold 956 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $95.00, for a total value of $90,820.00. Following the completion of the sale, the vice president owned 29,143 shares in the company, valued at approximately $2,768,585. This represents a 3.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Qorvo Stock Up 4.5%

Qorvo stock traded up $4.21 during midday trading on Wednesday, reaching $98.78. The company’s stock had a trading volume of 1,225,621 shares, compared to its average volume of 1,280,641. Qorvo, Inc. has a fifty-two week low of $73.00 and a fifty-two week high of $106.30. 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 company has a market cap of $8.69 billion, a P/E ratio of 27.29, a P/E/G ratio of 1.47 and a beta of 1.42. The business has a 50-day simple moving average of $83.06 and a 200-day simple moving average of $83.85.

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, beating analysts’ consensus estimates of $1.21 by $0.48. The company had revenue of $808.28 million for the quarter, compared to analysts’ expectations of $801.31 million. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.Qorvo’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the firm earned $1.42 earnings per share. 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.

Hedge Funds Weigh In On Qorvo

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sage Rhino Capital LLC grew its holdings in shares of Qorvo by 4.4% during the third quarter. Sage Rhino Capital LLC now owns 3,758 shares of the semiconductor company’s stock worth $342,000 after buying an additional 160 shares during the last quarter. Fred Alger Management LLC grew its holdings in shares of Qorvo by 5.3% during the third quarter. Fred Alger Management LLC now owns 3,179 shares of the semiconductor company’s stock worth $290,000 after buying an additional 160 shares during the last quarter. Beacon Investment Advisory Services Inc. grew its holdings in shares of Qorvo by 5.7% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 3,001 shares of the semiconductor company’s stock worth $254,000 after buying an additional 161 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in shares of Qorvo by 4.4% during the first quarter. Fifth Third Wealth Advisors LLC now owns 3,955 shares of the semiconductor company’s stock worth $306,000 after buying an additional 167 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings in shares of Qorvo by 60.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company’s stock worth $41,000 after buying an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Analyst Upgrades and Downgrades

QRVO has been the topic of several research reports. Barclays raised Qorvo from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $95.00 to $100.00 in a report on Wednesday, April 22nd. Mizuho reaffirmed 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. UBS Group raised 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. Craig Hallum reaffirmed a “buy” rating and set a $120.00 price objective on shares of Qorvo in a report on Wednesday, May 6th. Finally, Benchmark reaffirmed a “hold” rating on shares of Qorvo in a report on Wednesday, January 28th. Three research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $96.63.

Qorvo Company Profile

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.