Qorvo, Inc. (NASDAQ:QRVO) Director Roderick Nelson sold 1,587 shares of the business’s stock in a transaction dated Monday, August 16th. The shares were sold at an average price of $186.72, for a total transaction of $296,324.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of QRVO stock traded down $4.11 during trading hours on Tuesday, hitting $183.46. The stock had a trading volume of 805,628 shares, compared to its average volume of 1,157,980. The company has a market capitalization of $20.39 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 1.32 and a beta of 1.37. Qorvo, Inc. has a twelve month low of $112.03 and a twelve month high of $201.68. The stock has a 50 day moving average price of $188.80. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.37 and a quick ratio of 2.56.
Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Wednesday, August 4th. The semiconductor company reported $2.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.45 by $0.38. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.08 billion. Qorvo had a return on equity of 26.25% and a net margin of 21.26%. The company’s revenue was up 41.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.50 earnings per share. On average, research analysts expect that Qorvo, Inc. will post 11.21 EPS for the current year.
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Institutional investors have recently added to or reduced their stakes in the company. Cypress Capital Management LLC WY purchased a new stake in shares of Qorvo during the second quarter worth approximately $26,000. KB Financial Partners LLC purchased a new stake in shares of Qorvo during the first quarter worth approximately $26,000. Glassman Wealth Services raised its stake in shares of Qorvo by 465.4% during the second quarter. Glassman Wealth Services now owns 147 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 121 shares during the last quarter. Sandy Spring Bank raised its stake in shares of Qorvo by 352.9% during the second quarter. Sandy Spring Bank now owns 154 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 120 shares during the last quarter. Finally, Clearstead Advisors LLC raised its stake in shares of Qorvo by 50.9% during the second quarter. Clearstead Advisors LLC now owns 166 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 56 shares during the last quarter. Institutional investors and hedge funds own 77.13% of the company’s stock.
QRVO has been the topic of a number of recent research reports. BMO Capital Markets boosted their price target on shares of Qorvo from $190.00 to $200.00 and gave the stock a “market perform” rating in a research note on Thursday, August 5th. Rosenblatt Securities boosted their price target on shares of Qorvo from $200.00 to $215.00 and gave the stock a “neutral” rating in a research note on Thursday, August 5th. Wells Fargo & Company boosted their price target on shares of Qorvo from $205.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, May 6th. Craig Hallum boosted their price target on shares of Qorvo from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, August 5th. Finally, Oppenheimer boosted their price objective on Qorvo from $220.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, August 5th. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Qorvo presently has a consensus rating of “Buy” and an average price target of $203.68.
About Qorvo
Qorvo, Inc develops and commercializes technologies and products for wireless and wired connectivity worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. The company offers integrated modules incorporating switches, power amplifiers, filters, multiplexers and other components, radio frequency (RF) power management integrated circuits, antenna tuners, antenna-plexers, discrete filters and duplexers, discrete switches, and ultra-wideband (UWB) system solutions.
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