Grant Brown Sells 5,179 Shares of Qorvo (NASDAQ:QRVO) Stock

Qorvo, Inc. (NASDAQ:QRVO) CFO Grant Brown sold 5,179 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $97.50, for a total value of $504,952.50. Following the sale, the chief financial officer owned 49,268 shares of the company’s stock, valued at approximately $4,803,630. This represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Qorvo Price Performance

Shares of Qorvo stock traded down $0.34 during trading hours on Tuesday, reaching $95.70. The company’s stock had a trading volume of 1,156,985 shares, compared to its average volume of 1,284,283. The firm has a 50 day moving average price of $92.29 and a 200-day moving average price of $88.02. Qorvo, Inc. has a one year low of $74.92 and a one year high of $109.49. 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 stock has a market cap of $8.44 billion, a P/E ratio of 22.20, a P/E/G ratio of 1.43 and a beta of 1.44.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.11 by $0.53. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The firm had revenue of $784.79 million during the quarter, compared to analyst estimates of $743.28 million. During the same quarter in the prior year, the business posted $0.92 EPS. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, analysts predict that Qorvo, Inc. will post 6.3 EPS for the current year.

Hedge Funds Weigh In On Qorvo

Large investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its position in Qorvo by 440.1% during the first quarter. Jones Financial Companies Lllp now owns 8,134 shares of the semiconductor company’s stock worth $589,000 after purchasing an additional 6,628 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Qorvo by 158.7% during the second quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company’s stock valued at $180,000 after purchasing an additional 1,301 shares during the period. First Trust Advisors LP raised its holdings in Qorvo by 56.5% during the second quarter. First Trust Advisors LP now owns 142,503 shares of the semiconductor company’s stock worth $12,100,000 after buying an additional 51,475 shares during the last quarter. Marshall Wace LLP bought a new stake in Qorvo during the second quarter worth $428,000. Finally, Cerity Partners LLC purchased a new position in shares of Qorvo during the 2nd quarter valued at $327,000. Institutional investors own 88.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on QRVO shares. Barclays raised Qorvo from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $95.00 to $100.00 in a research report on Wednesday, April 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qorvo in a report on Friday, July 24th. JPMorgan Chase & Co. raised their target price on shares of Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. TD Cowen reiterated a “hold” rating on shares of Qorvo in a report on Wednesday, July 29th. Finally, Craig Hallum reiterated a “buy” rating and issued a $120.00 target price on shares of Qorvo in a research note on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $94.00.

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.