Qorvo, Inc. (NASDAQ:QRVO) VP Steven E. Creviston sold 6,000 shares of Qorvo stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $76.97, for a total value of $461,820.00. Following the completion of the transaction, the vice president now directly owns 95,725 shares in the company, valued at approximately $7,367,953.25. The sale was disclosed in a document filed with the SEC, which is available at this link.
Qorvo, Inc. (QRVO) opened at $77.33 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.71 and a current ratio of 3.80. Qorvo, Inc. has a one year low of $49.53 and a one year high of $81.20. The stock has a market capitalization of $9,910.00 and a price-to-earnings 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 business had revenue of $821.60 million for the quarter, compared to analyst estimates of $810.47 million. During the same quarter in the prior year, the firm posted $1.29 earnings per share. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. analysts forecast 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 company. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Qorvo by 16.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 433,541 shares of the semiconductor company’s stock valued at $27,452,000 after buying an additional 59,712 shares during the period. American Century Companies Inc. acquired a new position in Qorvo in the second quarter valued at about $814,000. Toronto Dominion Bank lifted its stake in Qorvo by 26.1% in 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. Oregon Public Employees Retirement Fund lifted its stake in Qorvo by 0.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 38,123 shares of the semiconductor company’s stock valued at $2,414,000 after buying an additional 300 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in Qorvo by 424.0% in 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. 94.55% of the stock is currently owned by institutional investors and hedge funds.
QRVO has been the topic of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $86.00 price target on shares of Qorvo in a research note on Sunday, September 17th. Craig Hallum reissued a “buy” rating on shares of Qorvo in a research note on Wednesday, September 13th. Canaccord Genuity boosted their target price on Qorvo from $79.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Drexel Hamilton restated a “buy” rating and issued a $95.00 target price on shares of Qorvo in a report on Tuesday, August 1st. Finally, BidaskClub upgraded Qorvo from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target 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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