Insider Selling: Qorvo (NASDAQ:QRVO) CEO Sells $2,899,407.28 in Stock

Key Points

• Qorvo CEO Robert Bruggeworth sold 28,744 shares at an average price of $100.87, generating approximately $2.90 million. His direct ownership fell 8.11% to 325,546 shares.
• Qorvo shares declined 0.2% to $100.38, while the company reported quarterly EPS of $1.64—well above the $1.11 analyst consensus—and revenue of $784.79 million.
• Analysts maintain a consensus “Hold” rating with an average price target of $94.00; institutional investors own approximately 88.57% of the stock.

Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) CEO Robert Bruggeworth sold 28,744 shares of the company's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $100.87, for a total transaction of $2,899,407.28. Following the completion of the sale, the chief executive officer directly owned 325,546 shares of the company's stock, valued at $32,837,825.02. The trade was a 8.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Qorvo Stock Down 0.2%

• Qorvo NASDAQ: QRVO Will Be One Wild Buy

QRVO stock traded down $0.25 during trading on Thursday, hitting $100.38. 1,071,475 shares of the company's stock traded hands, compared to its average volume of 1,256,104. The firm has a market capitalization of $8.86 billion, a P/E ratio of 23.29, a PEG ratio of 1.70 and a beta of 1.45. The business has a fifty day simple moving average of $91.81 and a two-hundred day simple moving average of $89.27. The company has a quick ratio of 2.68, a current ratio of 3.54 and a debt-to-equity ratio of 0.45. Qorvo, Inc. has a 1 year low of $74.92 and a 1 year high of $109.49.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.53. The company had revenue of $784.79 million during the quarter, compared to the consensus estimate of $743.28 million. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. Qorvo's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Sell-side analysts anticipate that Qorvo, Inc. will post 6.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. UBS Group raised their price objective on Qorvo from $91.00 to $96.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Weiss Ratings reissued a "hold (c)" rating on shares of Qorvo in a research report on Friday, July 24th. Craig Hallum restated a "buy" rating and issued a $120.00 price target on shares of Qorvo in a report on Wednesday, May 6th. JPMorgan Chase & Co. lifted their price objective on shares of Qorvo from $85.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Finally, TD Cowen reiterated a "hold" rating on shares of Qorvo in a research note on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $94.00.

Institutional Investors Weigh In On Qorvo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QRVO. Fred Alger Management LLC increased its position in Qorvo by 5.3% during the third quarter. Fred Alger Management LLC now owns 3,179 shares of the semiconductor company's stock worth $290,000 after purchasing an additional 160 shares during the last quarter. Wedmont Private Capital grew its stake in shares of Qorvo by 1.6% during the 2nd quarter. Wedmont Private Capital now owns 10,247 shares of the semiconductor company's stock valued at $879,000 after buying an additional 162 shares during the period. Fifth Third Wealth Advisors LLC grew its stake in shares of Qorvo by 4.4% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,955 shares of the semiconductor company's stock valued at $306,000 after buying an additional 167 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its holdings in shares of Qorvo by 60.0% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company's stock worth $41,000 after buying an additional 180 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of Qorvo by 14.6% during the 4th quarter. Larson Financial Group LLC now owns 1,483 shares of the semiconductor company's stock worth $125,000 after buying an additional 189 shares during the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Qorvo Company Profile

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo's product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.

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