Qorvo Inc (NASDAQ:QRVO) Director Sells $34,515.00 in Stock

Qorvo Inc (NASDAQ:QRVO) Director Roderick Nelson sold 500 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $69.03, for a total value of $34,515.00. Following the transaction, the director now directly owns 4,782 shares in the company, valued at $330,101.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Roderick Nelson also recently made the following trade(s):

  • On Friday, August 9th, Roderick Nelson sold 500 shares of Qorvo stock. The shares were sold at an average price of $69.85, for a total value of $34,925.00.

Shares of Qorvo stock traded up $2.31 during trading on Tuesday, reaching $71.70. 999,176 shares of the stock were exchanged, compared to its average volume of 1,407,779. The company has a current ratio of 3.44, a quick ratio of 2.30 and a debt-to-equity ratio of 0.23. The stock’s fifty day moving average is $70.46. The firm has a market cap of $8.18 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 1.71 and a beta of 1.09. Qorvo Inc has a 1 year low of $54.74 and a 1 year high of $83.96.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Thursday, August 1st. The semiconductor company reported $1.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.23. The company had revenue of $775.60 million during the quarter, compared to analyst estimates of $738.98 million. Qorvo had a net margin of 6.39% and a return on equity of 15.77%. Qorvo’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 earnings per share. On average, analysts predict that Qorvo Inc will post 4.3 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of QRVO. Arlington Partners LLC purchased a new stake in Qorvo in the second quarter worth about $29,000. Pearl River Capital LLC purchased a new stake in Qorvo in the second quarter worth about $42,000. Quantamental Technologies LLC purchased a new stake in Qorvo in the second quarter worth about $42,000. NEXT Financial Group Inc lifted its holdings in Qorvo by 63.5% in the second quarter. NEXT Financial Group Inc now owns 868 shares of the semiconductor company’s stock worth $58,000 after buying an additional 337 shares during the period. Finally, Penserra Capital Management LLC purchased a new stake in Qorvo in the first quarter worth about $107,000. Institutional investors own 93.85% of the company’s stock.

A number of brokerages have recently issued reports on QRVO. Zacks Investment Research cut Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Mizuho set a $70.00 price objective on Qorvo and gave the company a “hold” rating in a research note on Friday, August 2nd. Canaccord Genuity reaffirmed a “buy” rating and set a $76.00 price objective (down from $87.00) on shares of Qorvo in a research note on Tuesday, May 21st. Barclays cut Qorvo from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $70.00 to $60.00 in a research note on Thursday, June 6th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $85.00 price objective (up from $75.00) on shares of Qorvo in a research note on Friday, August 2nd. Fourteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $76.86.

About Qorvo

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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