Qorvo, Inc. (NASDAQ:QRVO) insider Robert A. Bruggeworth sold 5,000 shares of Qorvo stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $77.03, for a total value of $385,150.00. Following the sale, the insider now directly owns 193,344 shares of the company’s stock, valued at approximately $14,893,288.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Qorvo, Inc. (QRVO) opened at $77.33 on Friday. Qorvo, Inc. has a 12 month low of $49.53 and a 12 month high of $81.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.71 and a current ratio of 3.80. The stock has a market capitalization of $9,910.00 and a PE ratio of 19.60.
Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.52. Qorvo had a positive return on equity of 10.77% and a negative net margin of 0.59%. The firm had revenue of $821.60 million for the quarter, compared to analyst estimates of $810.47 million. During the same period in the previous year, the company posted $1.29 earnings per share. The company’s quarterly revenue was down 5.0% compared to the same quarter last year. equities analysts anticipate that Qorvo, Inc. will post 4.74 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently modified their holdings of the stock. Penserra Capital Management LLC bought a new position in Qorvo during the third quarter valued at about $130,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in Qorvo by 79.9% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,252 shares of the semiconductor company’s stock valued at $159,000 after acquiring an additional 1,000 shares during the period. Federated Investors Inc. PA increased its stake in Qorvo by 4.0% during the second quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock valued at $147,000 after acquiring an additional 90 shares during the period. Advisor Group Inc. increased its stake in Qorvo by 5.1% during the second quarter. Advisor Group Inc. now owns 2,584 shares of the semiconductor company’s stock valued at $164,000 after acquiring an additional 126 shares during the period. Finally, Global X Management Co. LLC increased its stake in Qorvo by 400.9% during the second quarter. Global X Management Co. LLC now owns 2,795 shares of the semiconductor company’s stock valued at $177,000 after acquiring an additional 2,237 shares during the period. Hedge funds and other institutional investors own 94.55% of the company’s stock.
QRVO has been the subject of a number of research reports. Instinet initiated coverage on Qorvo in a research report on Wednesday, September 6th. They set a “neutral” rating and a $75.00 price objective for the company. Craig Hallum restated a “buy” rating on shares of Qorvo in a report on Wednesday, September 13th. Mizuho restated a “hold” rating and set a $70.00 target price on shares of Qorvo in a report on Monday, October 9th. TheStreet lowered Qorvo from a “b” rating to a “c” rating in a report on Wednesday, August 2nd. Finally, KeyCorp restated a “sector perform” rating on shares of Qorvo in a report on Thursday, September 14th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $76.74.
Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).
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