Peter Feld Sells 1,900,000 Shares of Qorvo (NASDAQ:QRVO) Stock

Qorvo, Inc. (NASDAQ:QRVO) Director Peter Feld sold 1,900,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $101.20, for a total value of $192,280,000.00. Following the sale, the director owned 5,611,526 shares of the company’s stock, valued at approximately $567,886,431.20. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Qorvo Trading Up 1.9%

Shares of QRVO opened at $104.73 on Thursday. Qorvo, Inc. has a twelve month low of $74.92 and a twelve month high of $109.49. The firm has a market capitalization of $9.22 billion, a P/E ratio of 28.93, a price-to-earnings-growth ratio of 1.60 and a beta of 1.43. The company has a current ratio of 3.24, a quick ratio of 2.46 and a debt-to-equity ratio of 0.46. The stock’s fifty day simple moving average is $88.65 and its 200 day simple moving average is $84.95.

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

Institutional Investors Weigh In On Qorvo

Hedge funds and other institutional investors have recently modified their holdings of the stock. Stance Capital LLC bought a new position in Qorvo during the 3rd quarter worth approximately $27,000. Smartleaf Asset Management LLC raised its position in shares of Qorvo by 215.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 231 shares in the last quarter. Sound Income Strategies LLC lifted its stake in Qorvo by 952.8% during the fourth quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 343 shares during the last quarter. Advisory Services Network LLC acquired a new position in Qorvo in the third quarter worth $36,000. Finally, Clearstead Advisors LLC increased its stake in Qorvo by 93.3% during the third quarter. Clearstead Advisors LLC now owns 431 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 208 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on QRVO. Barclays raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $95.00 to $100.00 in a research report on Wednesday, April 22nd. Zacks Research lowered shares of Qorvo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 16th. Mizuho reissued an “underperform” rating and issued a $66.00 target price (down from $70.00) on shares of Qorvo in a research note on Monday, April 20th. JPMorgan Chase & Co. upped their price target on shares of Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Qorvo in a report on Monday, April 27th. 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.