Qorvo, Inc. (NASDAQ:QRVO) VP Steven E. Creviston sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $70.75, for a total value of $424,500.00. Following the transaction, the vice president now owns 120,733 shares of the company’s stock, valued at $8,541,859.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Qorvo, Inc. (QRVO) traded up 0.06% during mid-day trading on Friday, reaching $71.72. The company’s stock had a trading volume of 1,685,068 shares. The firm’s market cap is $9.12 billion. The firm has a 50 day moving average price of $73.33 and a 200 day moving average price of $65.52. Qorvo, Inc. has a 52-week low of $48.28 and a 52-week high of $79.34.
Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Wednesday, May 3rd. The semiconductor company reported $0.74 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.74. Qorvo had a positive return on equity of 10.39% and a negative net margin of 0.55%. The firm had revenue of $643 million for the quarter, compared to analyst estimates of $632.12 million. During the same quarter last year, the company earned $1.04 EPS. The company’s revenue was up 7.2% on a year-over-year basis. On average, equities analysts predict that Qorvo, Inc. will post $5.61 EPS for the current fiscal year.
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A number of institutional investors have recently bought and sold shares of the company. Blenheim Capital Management BV bought a new position in Qorvo during the fourth quarter worth approximately $309,000. Flinton Capital Management LLC bought a new position in Qorvo during the fourth quarter worth approximately $715,000. Rafferty Asset Management LLC bought a new position in Qorvo during the fourth quarter worth approximately $200,000. Asset Management One Co. Ltd. raised its position in Qorvo by 1,687.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 225,813 shares of the semiconductor company’s stock worth $11,924,000 after buying an additional 213,179 shares during the period. Finally, Aviva PLC raised its position in Qorvo by 5.2% in the fourth quarter. Aviva PLC now owns 86,494 shares of the semiconductor company’s stock worth $4,562,000 after buying an additional 4,287 shares during the period. Hedge funds and other institutional investors own 96.66% of the company’s stock.
A number of research analysts have recently commented on the company. J P Morgan Chase & Co reiterated a “buy” rating on shares of Qorvo in a report on Saturday, April 1st. Benchmark Co. assumed coverage on Qorvo in a report on Tuesday, April 25th. They set a “buy” rating for the company. MKM Partners reiterated a “buy” rating and set a $90.00 price target (up from $78.00) on shares of Qorvo in a report on Tuesday, May 30th. Raymond James Financial, Inc. assumed coverage on Qorvo in a report on Friday. They set an “outperform” rating and a $87.00 price target for the company. Finally, BidaskClub lowered Qorvo from a “strong-buy” rating to a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Qorvo presently has an average rating of “Hold” and a consensus target price of $69.36.
Qorvo Company Profile
Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).
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