Qorvo Inc (NASDAQ:QRVO) VP Steven E. Creviston sold 6,000 shares of the business’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $79.48, for a total transaction of $476,880.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Qorvo Inc (NASDAQ QRVO) traded up $1.75 during trading hours on Friday, hitting $80.75. 2,831,779 shares of the stock were exchanged, compared to its average volume of 1,692,884. The firm has a market cap of $9,992.99, a price-to-earnings ratio of 403.75, a P/E/G ratio of 1.39 and a beta of 0.81. Qorvo Inc has a 12 month low of $62.68 and a 12 month 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 released its 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 business 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. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. equities analysts forecast that Qorvo Inc will post 4.49 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas bought a new stake in shares of Qorvo in the 4th quarter worth approximately $2,328,000. F&V Capital Management LLC raised its holdings in shares of Qorvo by 34.4% in the 4th quarter. F&V Capital Management LLC now owns 68,200 shares of the semiconductor company’s stock worth $4,542,000 after purchasing an additional 17,460 shares in the last quarter. LS Investment Advisors LLC raised its holdings in shares of Qorvo by 28.9% in the 4th quarter. LS Investment Advisors LLC now owns 6,894 shares of the semiconductor company’s stock worth $459,000 after purchasing an additional 1,544 shares in the last quarter. Clear Harbor Asset Management LLC raised its holdings in shares of Qorvo by 39.8% in the 4th quarter. Clear Harbor Asset Management LLC now owns 84,212 shares of the semiconductor company’s stock worth $5,609,000 after purchasing an additional 23,996 shares in the last quarter. Finally, Kalos Management Inc. bought a new stake in shares of Qorvo in the 3rd quarter worth approximately $525,000. Institutional investors and hedge funds own 97.58% of the company’s stock.
QRVO has been the subject of a number of analyst reports. Instinet raised shares of Qorvo from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Thursday, February 1st. BidaskClub lowered shares of Qorvo from a “hold” rating to a “sell” rating in a research note on Wednesday, December 6th. JPMorgan Chase & Co. set a $92.00 target price on shares of Qorvo and gave the company a “buy” rating in a research note on Friday. Zacks Investment Research lowered shares of Qorvo from a “hold” rating to a “sell” rating in a research note on Monday, January 22nd. Finally, Needham & Company LLC boosted their target price on shares of Qorvo from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the stock. Qorvo has an average rating of “Hold” and a consensus target price of $81.68.
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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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