Qorvo (NASDAQ:QRVO) VP Steven E. Creviston sold 6,000 shares of the business’s stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $72.75, for a total value of $436,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of NASDAQ:QRVO traded up $1.19 during trading on Tuesday, hitting $73.47. 785,897 shares of the company traded hands, compared to its average volume of 2,108,011. The firm has a market capitalization of $9,177.11, a PE ratio of 18.14, a price-to-earnings-growth ratio of 1.01 and a beta of 0.92. Qorvo has a one year low of $62.68 and a one year high of $86.84. The company has a current ratio of 4.72, a quick ratio of 3.62 and a debt-to-equity ratio of 0.23.
Qorvo (NASDAQ:QRVO) last posted its earnings results on Wednesday, January 31st. The semiconductor company reported $1.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.09. The company had revenue of $845.70 million during the quarter, compared to analyst estimates of $841.09 million. Qorvo had a return on equity of 11.72% and a net margin of 0.95%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.35 earnings per share. analysts predict that Qorvo will post 4.49 EPS for the current fiscal year.
Several analysts recently weighed in on the company. Zacks Investment Research raised Qorvo from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 2nd. ValuEngine raised Qorvo from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. Canaccord Genuity reissued a “buy” rating and issued a $81.00 price objective (down from $87.00) on shares of Qorvo in a report on Wednesday, January 24th. BidaskClub raised Qorvo from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 31st. Finally, Drexel Hamilton reissued a “buy” rating and issued a $95.00 price objective on shares of Qorvo in a report on Wednesday, January 31st. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $81.47.
Several large investors have recently bought and sold shares of QRVO. JPMorgan Chase & Co. grew its holdings in shares of Qorvo by 16.8% during the third quarter. JPMorgan Chase & Co. now owns 213,124 shares of the semiconductor company’s stock valued at $14,962,000 after purchasing an additional 30,659 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Qorvo by 4.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,217,756 shares of the semiconductor company’s stock valued at $86,067,000 after purchasing an additional 50,179 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Qorvo by 43.5% during the third quarter. Janus Henderson Group PLC now owns 111,777 shares of the semiconductor company’s stock valued at $7,900,000 after purchasing an additional 33,895 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of Qorvo by 1.8% during the third quarter. California Public Employees Retirement System now owns 289,332 shares of the semiconductor company’s stock valued at $20,450,000 after purchasing an additional 5,132 shares during the last quarter. Finally, IFM Investors Pty Ltd bought a new position in shares of Qorvo during the third quarter valued at approximately $289,000. 97.56% of the stock is owned by institutional investors.
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Qorvo Company Profile
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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