Qorvo, Inc. (NASDAQ:QRVO) insider Robert A. Bruggeworth sold 5,000 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $73.37, for a total value of $366,850.00. Following the completion of the sale, the insider now owns 202,344 shares in the company, valued at $14,845,979.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Qorvo, Inc. (QRVO) opened at 74.35 on Tuesday. The stock’s market cap is $9.46 billion. Qorvo, Inc. has a 52 week low of $19.18 and a 52 week high of $76.47. The company has a 50-day moving average price of $60.07 and a 200-day moving average price of $60.75.
Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.07. The business had revenue of $640.80 million during the quarter, compared to the consensus estimate of $632.18 million. Qorvo had a positive return on equity of 10.10% and a negative net margin of 1.40%. The firm’s revenue was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.08 earnings per share. Analysts anticipate that Qorvo, Inc. will post $5.54 earnings per share for the current year.
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A number of equities research analysts have issued reports on QRVO shares. Instinet started coverage on Qorvo in a research note on Wednesday, September 6th. They issued a “neutral” rating and a $75.00 target price on the stock. Craig Hallum restated a “buy” rating on shares of Qorvo in a research note on Wednesday, September 13th. Zacks Investment Research cut shares of Qorvo from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 21st. BidaskClub cut shares of Qorvo from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 16th. Finally, TheStreet cut shares of Qorvo from a “b” rating to a “c” rating in a research note on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the company. Qorvo has an average rating of “Hold” and a consensus target price of $73.45.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QRVO. BlackRock Inc. increased its holdings in Qorvo by 3,264.5% in the first quarter. BlackRock Inc. now owns 8,737,400 shares of the semiconductor company’s stock valued at $599,038,000 after purchasing an additional 8,477,705 shares during the last quarter. Baupost Group LLC MA bought a new stake in Qorvo in the first quarter valued at about $492,639,000. Manning & Napier Advisors LLC bought a new stake in Qorvo in the second quarter valued at about $101,456,000. Vanguard Group Inc. increased its holdings in Qorvo by 3.6% in the second quarter. Vanguard Group Inc. now owns 12,549,555 shares of the semiconductor company’s stock valued at $794,638,000 after purchasing an additional 430,596 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Qorvo by 240.7% in the first quarter. JPMorgan Chase & Co. now owns 466,766 shares of the semiconductor company’s stock valued at $32,000,000 after purchasing an additional 329,770 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.
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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