Qorvo Inc (NASDAQ:QRVO) VP James L. Klein sold 2,093 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $79.88, for a total value of $167,188.84. Following the transaction, the vice president now directly owns 50,172 shares of the company’s stock, valued at $4,007,739.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Shares of QRVO traded down $0.60 during mid-day trading on Wednesday, reaching $79.68. The company’s stock had a trading volume of 665,700 shares, compared to its average volume of 1,653,868. The firm has a market capitalization of $10.06 billion, a P/E ratio of 16.71, a PEG ratio of 1.23 and a beta of 0.96. Qorvo Inc has a 1 year low of $64.53 and a 1 year high of $86.84. The company has a quick ratio of 2.15, a current ratio of 3.39 and a debt-to-equity ratio of 0.12.
Qorvo (NASDAQ:QRVO) last released its earnings results on Wednesday, August 1st. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.20. The company had revenue of $692.70 million during the quarter, compared to analyst estimates of $656.97 million. Qorvo had a positive return on equity of 12.85% and a negative net margin of 1.31%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 earnings per share. analysts expect that Qorvo Inc will post 5.46 earnings per share for the current fiscal year.
A number of equities analysts have issued reports on QRVO shares. Longbow Research started coverage on Qorvo in a research note on Wednesday, May 16th. They set a “buy” rating and a $93.00 price target for the company. JPMorgan Chase & Co. raised their price objective on Qorvo to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, May 24th. Benchmark started coverage on Qorvo in a research note on Friday, June 15th. They set a “buy” rating and a $95.00 price objective for the company. Barclays raised their price objective on Qorvo from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, June 18th. Finally, Loop Capital started coverage on Qorvo in a research note on Thursday, June 21st. They set a “buy” rating and a $95.00 price objective for the company. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $84.48.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Resources Investment Advisors Inc. lifted its holdings in shares of Qorvo by 159.6% in the first quarter. Resources Investment Advisors Inc. now owns 1,480 shares of the semiconductor company’s stock valued at $104,000 after purchasing an additional 910 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new stake in shares of Qorvo in the second quarter valued at $119,000. Engineers Gate Manager LP purchased a new stake in shares of Qorvo in the second quarter valued at $200,000. Marshall Wace LLP purchased a new stake in shares of Qorvo in the second quarter valued at $203,000. Finally, Intact Investment Management Inc. purchased a new stake in shares of Qorvo in the second quarter valued at $216,000. Institutional investors own 94.12% of the company’s stock.
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 (PAs), low noise amplifiers (LNAs), 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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