Qorvo (NASDAQ:QRVO) SVP Paul Fego Sells 2,500 Shares

Qorvo, Inc. (NASDAQ:QRVO) SVP Paul Fego sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the transaction, the senior vice president owned 71,038 shares in the company, valued at approximately $7,103,800. This trade represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Qorvo Price Performance

NASDAQ QRVO opened at $108.23 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.24 and a quick ratio of 2.46. The stock’s 50-day moving average is $85.58 and its two-hundred day moving average is $84.24. The firm has a market cap of $9.53 billion, a P/E ratio of 29.90, a price-to-earnings-growth ratio of 1.66 and a beta of 1.42. Qorvo, Inc. has a fifty-two week low of $74.03 and a fifty-two week high of $109.03.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.48. The business had revenue of $808.28 million for the quarter, compared to analyst estimates of $801.31 million. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.42 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, analysts anticipate that Qorvo, Inc. will post 5.87 earnings per share for the current fiscal year.

Institutional Trading of Qorvo

Hedge funds have recently modified their holdings of the company. Winnow Wealth LLC bought a new stake in shares of Qorvo in the 3rd quarter worth approximately $27,000. Stance Capital LLC bought a new stake in shares of Qorvo in the 3rd quarter worth approximately $27,000. Smartleaf Asset Management LLC lifted its position in shares of Qorvo by 215.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 231 shares during the period. Sound Income Strategies LLC lifted its position in shares of Qorvo by 952.8% in the 4th quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 343 shares during the period. Finally, Advisory Services Network LLC bought a new stake in shares of Qorvo in the 3rd quarter worth approximately $36,000. Institutional investors own 88.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on QRVO shares. Piper Sandler reiterated a “neutral” rating on shares of Qorvo in a research note on Wednesday, January 28th. TD Cowen dropped their price objective on Qorvo from $95.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, January 28th. Wolfe Research lowered Qorvo from an “outperform” rating to a “peer perform” rating in a research note on Friday, April 17th. Barclays upgraded Qorvo from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $95.00 to $100.00 in a research note on Wednesday, April 22nd. Finally, UBS Group lifted their price objective on Qorvo from $87.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Qorvo currently has an average rating of “Hold” and an average price target of $96.63.

Qorvo Company Profile

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo’s product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.