Qorvo Inc (NASDAQ:QRVO) VP Steven E. Creviston sold 6,000 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $71.37, for a total transaction of $428,220.00. Following the transaction, the vice president now owns 82,725 shares in the company, valued at $5,904,083.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of Qorvo Inc (NASDAQ QRVO) traded up $1.00 during trading on Friday, hitting $77.85. 3,143,451 shares of the company traded hands, compared to its average volume of 2,610,000. 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 Inc has a 12-month low of $62.68 and a 12-month high of $85.24. The stock has a market capitalization of $9,850.00, a PE ratio of 370.71, a PEG ratio of 1.37 and a beta of 1.05.
Qorvo (NASDAQ:QRVO) last issued its earnings results on Wednesday, January 31st. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.60 by $0.09. The firm had revenue of $845.70 million during the quarter, compared to analysts’ expectations of $841.09 million. Qorvo had a net margin of 0.95% and a return on equity of 11.72%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.35 earnings per share. analysts predict that Qorvo Inc will post 4.49 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Toronto Dominion Bank grew its position in Qorvo by 26.1% during the second quarter. Toronto Dominion Bank now owns 43,048 shares of the semiconductor company’s stock valued at $2,725,000 after buying an additional 8,911 shares during the period. F&V Capital Management LLC grew its position in Qorvo by 34.4% during the fourth quarter. F&V Capital Management LLC now owns 68,200 shares of the semiconductor company’s stock valued at $4,542,000 after buying an additional 17,460 shares during the period. Janus Henderson Group PLC grew its position in Qorvo by 424.0% during the second quarter. Janus Henderson Group PLC now owns 77,882 shares of the semiconductor company’s stock valued at $4,932,000 after buying an additional 63,019 shares during the period. Robecosam AG grew its position in shares of Qorvo by 17.9% in the second quarter. Robecosam AG now owns 165,000 shares of the semiconductor company’s stock valued at $10,608,000 after purchasing an additional 25,000 shares during the period. Finally, Nomura Holdings Inc. acquired a new stake in shares of Qorvo in the second quarter valued at about $639,000. Institutional investors own 96.48% of the company’s stock.
A number of equities research analysts recently commented on the stock. BidaskClub raised shares of Qorvo from a “sell” rating to a “hold” rating in a research report on Friday. Summit Redstone cut shares of Qorvo from a “hold” rating to a “sell” rating in a research report on Thursday, February 1st. Canaccord Genuity increased their target price on shares of Qorvo from $81.00 to $89.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Oppenheimer reissued a “hold” rating on shares of Qorvo in a research report on Thursday, February 1st. Finally, BMO Capital Markets increased their target price on shares of Qorvo from $63.00 to $70.00 and gave the company a “market perform” rating in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have assigned a buy rating to the stock. Qorvo currently has an average rating of “Hold” and a consensus price target of $80.42.
Qorvo Company Profile
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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