Qorvo (NASDAQ:QRVO) VP Steven E. Creviston sold 6,000 shares of the firm’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $79.48, for a total transaction of $476,880.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
QRVO stock opened at $69.72 on Friday. Qorvo has a 52 week low of $62.68 and a 52 week high of $86.84. The stock has a market cap of $8,819.16, a price-to-earnings ratio of 15.99, a P/E/G ratio of 0.97 and a beta of 0.92. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.62 and a current ratio of 4.72.
Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.09. Qorvo had a net margin of 0.95% and a return on equity of 11.72%. The company had revenue of $845.70 million for the quarter, compared to the consensus estimate of $841.09 million. During the same period in the previous year, the firm earned $1.35 EPS. Qorvo’s revenue was up 2.3% on a year-over-year basis. research analysts expect that Qorvo will post 4.49 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Qorvo by 45.7% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 9,485 shares of the semiconductor company’s stock worth $632,000 after purchasing an additional 2,977 shares in the last quarter. Xact Kapitalforvaltning AB raised its holdings in shares of Qorvo by 6.3% in the 4th quarter. Xact Kapitalforvaltning AB now owns 26,721 shares of the semiconductor company’s stock worth $1,780,000 after purchasing an additional 1,588 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Qorvo by 4.4% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 55,855 shares of the semiconductor company’s stock worth $3,720,000 after purchasing an additional 2,329 shares in the last quarter. Wealthsource Partners LLC bought a new stake in shares of Qorvo in the 4th quarter worth approximately $281,000. Finally, MetLife Investment Advisors LLC bought a new stake in shares of Qorvo in the 4th quarter worth approximately $2,623,000. Institutional investors and hedge funds own 97.55% of the company’s stock.
Several research analysts have weighed in on QRVO shares. BidaskClub lowered shares of Qorvo from a “hold” rating to a “sell” rating in a report on Saturday, February 17th. Zacks Investment Research lowered shares of Qorvo from a “hold” rating to a “sell” rating in a report on Monday, January 22nd. Piper Jaffray began coverage on shares of Qorvo in a report on Monday, February 26th. They set an “overweight” rating and a $90.00 price objective for the company. Bank of America lowered shares of Qorvo from a “neutral” rating to an “underperform” rating in a report on Thursday, March 15th. Finally, Nomura lowered shares of Qorvo from a “buy” rating to a “neutral” rating and decreased their price target for the company from $85.00 to $75.00 in a report on Tuesday, March 20th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $81.47.
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Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PA), low noise amplifiers, switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.
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