Qorvo Inc (NASDAQ:QRVO) Director John R. Harding sold 3,000 shares of the company’s stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $70.61, for a total transaction of $211,830.00. Following the transaction, the director now directly owns 5,669 shares in the company, valued at $400,288.09. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of NASDAQ QRVO opened at $68.15 on Friday. The stock has a market capitalization of $8.78 billion, a P/E ratio of 14.11, a price-to-earnings-growth ratio of 1.00 and a beta of 0.92. Qorvo Inc has a 52 week low of $64.53 and a 52 week high of $86.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.48 and a current ratio of 3.50.
Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Wednesday, October 31st. The semiconductor company reported $1.75 EPS for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.13. The firm had revenue of $884.40 million for the quarter, compared to analysts’ expectations of $855.57 million. Qorvo had a negative net margin of 1.41% and a positive return on equity of 13.65%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.52 EPS. As a group, equities research analysts expect that Qorvo Inc will post 5.66 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Qorvo by 3.6% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,377 shares of the semiconductor company’s stock valued at $1,393,000 after acquiring an additional 596 shares during the last quarter. Paradigm Capital Management Inc. NY boosted its stake in shares of Qorvo by 0.8% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 90,380 shares of the semiconductor company’s stock worth $7,246,000 after purchasing an additional 700 shares during the last quarter. Kalos Management Inc. boosted its stake in shares of Qorvo by 7.1% during the 2nd quarter. Kalos Management Inc. now owns 11,217 shares of the semiconductor company’s stock worth $899,000 after purchasing an additional 747 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in shares of Qorvo by 15.8% during the 3rd quarter. IFM Investors Pty Ltd now owns 7,060 shares of the semiconductor company’s stock worth $543,000 after purchasing an additional 965 shares during the last quarter. Finally, DnB Asset Management AS boosted its stake in shares of Qorvo by 7.7% during the 2nd quarter. DnB Asset Management AS now owns 13,910 shares of the semiconductor company’s stock worth $1,115,000 after purchasing an additional 1,000 shares during the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.
QRVO has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Qorvo from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Monday, August 6th. Needham & Company LLC upped their price target on shares of Qorvo from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Morgan Stanley upped their price target on shares of Qorvo from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 2nd. ValuEngine cut shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Saturday, August 18th. Finally, BidaskClub raised shares of Qorvo from a “sell” rating to a “hold” rating in a research note on Friday, September 21st. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Qorvo currently has a consensus rating of “Hold” and a consensus price target of $83.43.
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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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