Qorvo, Inc. (NASDAQ:QRVO) VP James L. Klein sold 2,600 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $63.49, for a total transaction of $165,074.00. Following the completion of the transaction, the vice president now directly owns 40,058 shares of the company’s stock, valued at $2,543,282.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Qorvo, Inc. (NASDAQ:QRVO) traded down 2.46% during trading on Monday, reaching $64.24. 371,253 shares of the company’s stock were exchanged. The stock’s market capitalization is $8.16 billion. The company’s 50 day moving average price is $73.65 and its 200-day moving average price is $66.60. Qorvo, Inc. has a 52 week low of $48.28 and a 52 week high of $79.34.
Qorvo (NASDAQ:QRVO) last released its earnings results on Wednesday, May 3rd. The semiconductor company reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. The business had revenue of $643 million for the quarter, compared to the consensus estimate of $632.12 million. Qorvo had a negative net margin of 0.55% and a positive return on equity of 10.39%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $1.04 earnings per share. On average, equities analysts expect that Qorvo, Inc. will post $5.61 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. increased its position in shares of Qorvo by 49.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,664 shares of the semiconductor company’s stock worth $114,000 after buying an additional 552 shares during the last quarter. IFP Advisors Inc increased its position in shares of Qorvo by 46.7% in the first quarter. IFP Advisors Inc now owns 2,105 shares of the semiconductor company’s stock worth $144,000 after buying an additional 670 shares during the last quarter. NEXT Financial Group Inc increased its position in shares of Qorvo by 145.6% in the first quarter. NEXT Financial Group Inc now owns 2,321 shares of the semiconductor company’s stock worth $158,000 after buying an additional 1,376 shares during the last quarter. Penserra Capital Management LLC bought a new position in shares of Qorvo during the first quarter worth approximately $191,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its position in shares of Qorvo by 180.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,800 shares of the semiconductor company’s stock worth $192,000 after buying an additional 1,800 shares during the last quarter. 96.33% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have issued reports on QRVO shares. Charter Equity raised shares of Qorvo from a “market perform” rating to a “buy” rating in a report on Wednesday, March 15th. Macquarie started coverage on shares of Qorvo in a report on Thursday, March 30th. They issued a “neutral” rating and a $70.00 target price for the company. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Qorvo in a report on Saturday, April 1st. Barclays PLC increased their target price on shares of Qorvo from $60.00 to $75.00 and gave the company an “equal weight” rating in a report on Tuesday, April 18th. Finally, Benchmark Co. started coverage on shares of Qorvo in a report on Tuesday, April 25th. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $70.00.
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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