Qorvo, Inc. (QRVO) VP Steven E. Creviston Sells 6,000 Shares
Qorvo, Inc. (NASDAQ:QRVO) VP Steven E. Creviston sold 6,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $71.34, for a total transaction of $428,040.00. Following the completion of the sale, the vice president now directly owns 120,110 shares in the company, valued at approximately $8,568,647.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Qorvo, Inc. (NASDAQ QRVO) traded up 0.92% during trading on Wednesday, hitting $72.42. 1,281,541 shares of the stock were exchanged. Qorvo, Inc. has a 52 week low of $48.28 and a 52 week high of $79.34. The firm has a 50 day moving average price of $67.39 and a 200 day moving average price of $69.13. The firm’s market capitalization is $9.22 billion.
Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.07. The company had revenue of $640.80 million for the quarter, compared to analyst estimates of $632.18 million. Qorvo had a negative net margin of 1.40% and a positive return on equity of 10.10%. The firm’s revenue was down 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 EPS. Analysts forecast that Qorvo, Inc. will post $5.54 EPS for the current fiscal year.
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Large investors have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. raised its stake in shares of Qorvo by 49.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,664 shares of the semiconductor company’s stock valued at $114,000 after buying an additional 552 shares during the period. IFP Advisors Inc raised its stake in shares of Qorvo by 46.7% in the first quarter. IFP Advisors Inc now owns 2,105 shares of the semiconductor company’s stock valued at $144,000 after buying an additional 670 shares during the period. Federated Investors Inc. PA raised its stake in shares of Qorvo by 4.0% in the second quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock valued at $147,000 after buying an additional 90 shares during the period. NEXT Financial Group Inc raised its stake in Qorvo by 2.1% in the second quarter. NEXT Financial Group Inc now owns 2,370 shares of the semiconductor company’s stock worth $150,000 after buying an additional 49 shares during the last quarter. Finally, Advisor Group Inc. raised its stake in Qorvo by 5.1% in the second quarter. Advisor Group Inc. now owns 2,584 shares of the semiconductor company’s stock worth $164,000 after buying an additional 126 shares during the last quarter. 97.09% of the stock is currently owned by institutional investors.
A number of analysts recently weighed in on the stock. Benchmark Co. assumed coverage on shares of Qorvo in a research note on Tuesday, April 25th. They issued a “buy” rating on the stock. MKM Partners reissued a “buy” rating and issued a $90.00 target price (up previously from $78.00) on shares of Qorvo in a research note on Tuesday, May 30th. Barclays PLC reissued a “hold” rating and issued a $70.00 target price on shares of Qorvo in a research note on Monday, May 15th. Cowen and Company reissued a “market perform” rating and issued a $85.00 target price (up previously from $74.00) on shares of Qorvo in a research note on Friday, May 26th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $63.00 target price on shares of Qorvo in a research note on Monday, June 12th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $73.28.
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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