Qorvo, Inc. (NASDAQ:QRVO) VP Gina Harrison sold 1,113 shares of Qorvo stock in a transaction dated Monday, June 7th. The stock was sold at an average price of $183.25, for a total transaction of $203,957.25.
QRVO stock opened at $192.42 on Thursday. The stock has a market cap of $21.41 billion, a P/E ratio of 30.30, a PEG ratio of 1.74 and a beta of 1.40. The company has a quick ratio of 2.90, a current ratio of 3.64 and a debt-to-equity ratio of 0.38. The business’s 50 day simple moving average is $182.71. Qorvo, Inc. has a 52-week low of $110.28 and a 52-week high of $201.68.
Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Wednesday, May 5th. The semiconductor company reported $2.74 EPS for the quarter, beating the Zacks’ consensus estimate of $2.23 by $0.51. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. Qorvo had a net margin of 18.27% and a return on equity of 23.45%. Equities research analysts anticipate that Qorvo, Inc. will post 10.61 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC grew its position in shares of Qorvo by 67.2% in the 1st quarter. Lazard Asset Management LLC now owns 16,774 shares of the semiconductor company’s stock worth $3,064,000 after acquiring an additional 6,744 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Qorvo by 107.2% during the fourth quarter. Canada Pension Plan Investment Board now owns 176,487 shares of the semiconductor company’s stock worth $29,345,000 after purchasing an additional 91,316 shares during the period. Royal Fund Management LLC lifted its position in shares of Qorvo by 26.8% in the 1st quarter. Royal Fund Management LLC now owns 12,417 shares of the semiconductor company’s stock worth $2,268,000 after buying an additional 2,624 shares during the last quarter. Symmetry Partners LLC boosted its holdings in shares of Qorvo by 1.4% in the 4th quarter. Symmetry Partners LLC now owns 9,551 shares of the semiconductor company’s stock valued at $1,588,000 after buying an additional 128 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of Qorvo during the 1st quarter valued at about $393,000. Hedge funds and other institutional investors own 83.44% of the company’s stock.
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A number of equities research analysts have commented on QRVO shares. Mizuho increased their target price on Qorvo from $183.00 to $215.00 and gave the company a “buy” rating in a report on Friday, April 9th. Argus initiated coverage on shares of Qorvo in a report on Thursday, July 1st. They issued a “buy” rating and a $225.00 target price on the stock. Craig Hallum lifted their price target on shares of Qorvo from $195.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, May 6th. Barclays upped their price objective on shares of Qorvo from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, June 29th. Finally, Rosenblatt Securities lifted their target price on shares of Qorvo from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, May 6th. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $199.48.
Qorvo Company Profile
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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