Qorvo Inc (NASDAQ:QRVO) Director Walter H. Wilkinson sold 2,762 shares of Qorvo stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $101.71, for a total value of $280,923.02. Following the sale, the director now owns 36,565 shares in the company, valued at $3,719,026.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Qorvo stock traded up $2.73 during mid-day trading on Friday, hitting $104.04. The company had a trading volume of 2,866,900 shares, compared to its average volume of 1,413,771. The company has a current ratio of 3.45, a quick ratio of 2.37 and a debt-to-equity ratio of 0.24. The stock’s 50 day moving average price is $79.88 and its two-hundred day moving average price is $72.46. Qorvo Inc has a 12 month low of $54.74 and a 12 month high of $104.22. The company has a market capitalization of $11.77 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11.
Qorvo (NASDAQ:QRVO) last released its earnings results on Thursday, October 31st. The semiconductor company reported $1.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.22. Qorvo had a return on equity of 15.10% and a net margin of 8.19%. The business had revenue of $806.70 million for the quarter, compared to the consensus estimate of $754.67 million. During the same period in the previous year, the company posted $1.75 earnings per share. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. Equities research analysts anticipate that Qorvo Inc will post 4.76 EPS for the current year.
Several hedge funds have recently bought and sold shares of the company. Systematic Financial Management LP raised its stake in shares of Qorvo by 1.7% in the third quarter. Systematic Financial Management LP now owns 209,567 shares of the semiconductor company’s stock worth $15,537,000 after purchasing an additional 3,496 shares during the last quarter. D.A. Davidson & CO. purchased a new position in shares of Qorvo in the third quarter worth $636,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of Qorvo by 7.4% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,452 shares of the semiconductor company’s stock worth $108,000 after purchasing an additional 100 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Qorvo by 370.8% in the third quarter. Tower Research Capital LLC TRC now owns 7,166 shares of the semiconductor company’s stock worth $532,000 after purchasing an additional 5,644 shares during the last quarter. Finally, Alps Advisors Inc. raised its stake in shares of Qorvo by 22.9% in the third quarter. Alps Advisors Inc. now owns 13,650 shares of the semiconductor company’s stock worth $1,012,000 after purchasing an additional 2,540 shares during the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.
Several equities research analysts recently weighed in on the company. Morgan Stanley lifted their price target on Qorvo from $71.00 to $77.00 and gave the company a “weight” rating in a research report on Friday, November 1st. UBS Group lifted their price target on Qorvo from $74.00 to $81.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. set a $110.00 price target on Qorvo and gave the company a “buy” rating in a research report on Friday, November 1st. Mizuho restated a “neutral” rating and set a $80.00 price target (up from $70.00) on shares of Qorvo in a research report on Thursday, October 31st. Finally, Benchmark boosted their target price on Qorvo from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $86.78.
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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