Qorvo, Inc. (QRVO) VP James L. Klein Sells 2,600 Shares
Qorvo, Inc. (NASDAQ:QRVO) VP James L. Klein sold 2,600 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $72.93, for a total value of $189,618.00. Following the sale, the vice president now directly owns 42,993 shares of the company’s stock, valued at $3,135,479.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Qorvo, Inc. (QRVO) traded down 0.14% on Thursday, hitting $73.22. The stock had a trading volume of 2,006,614 shares. The firm’s 50 day moving average is $69.96 and its 200-day moving average is $69.78. The stock’s market capitalization is $9.32 billion. Qorvo, Inc. has a one year low of $48.28 and a one year high of $79.34.
Qorvo (NASDAQ:QRVO) last released its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.07. Qorvo had a positive return on equity of 10.10% and a negative net margin of 1.40%. The business had revenue of $640.80 million for the quarter, compared to analyst estimates of $632.18 million. During the same quarter in the prior year, the company posted $1.08 earnings per share. Qorvo’s revenue was down 8.3% on a year-over-year basis. Equities research analysts expect that Qorvo, Inc. will post $5.54 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Baupost Group LLC MA bought a new stake in Qorvo during the first quarter worth about $492,639,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Qorvo by 16.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 433,541 shares of the semiconductor company’s stock worth $27,452,000 after acquiring an additional 59,712 shares in the last quarter. CHURCHILL MANAGEMENT Corp raised its holdings in Qorvo by 25.7% during the second quarter. CHURCHILL MANAGEMENT Corp now owns 37,420 shares of the semiconductor company’s stock worth $2,369,000 after acquiring an additional 7,661 shares in the last quarter. British Columbia Investment Management Corp raised its holdings in Qorvo by 105.0% during the first quarter. British Columbia Investment Management Corp now owns 46,806 shares of the semiconductor company’s stock worth $3,209,000 after acquiring an additional 23,973 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in Qorvo by 164.5% during the first quarter. Daiwa Securities Group Inc. now owns 8,200 shares of the semiconductor company’s stock worth $562,000 after acquiring an additional 5,100 shares in the last quarter. Institutional investors and hedge funds own 94.39% of the company’s stock.
Several equities research analysts recently issued reports on the company. Mizuho reissued a “hold” rating and issued a $70.00 price objective on shares of Qorvo in a research note on Friday, August 4th. Instinet assumed coverage on Qorvo in a research note on Wednesday. They issued a “neutral” rating and a $75.00 price objective for the company. BidaskClub raised Qorvo from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Nomura assumed coverage on Qorvo in a research note on Tuesday. They issued a “neutral” rating and a $75.00 price objective for the company. Finally, MKM Partners reissued a “buy” rating and issued a $90.00 price objective (up from $78.00) on shares of Qorvo in a research note on Tuesday, May 30th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Qorvo currently has an average rating of “Hold” and a consensus target price of $73.45.
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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