Insider Selling: Qorvo (NASDAQ:QRVO) SVP Sells 2,500 Shares of Stock

Key Points

• Qorvo SVP Paul Fego sold 2,500 shares at an average price of $114.11, generating $285,275. Following the sale, he retained 74,460 shares valued at approximately $8.5 million.
• Qorvo shares rose 9.3% to $118.06, approaching the company’s 52-week high of $120.52. The stock’s market capitalization was approximately $10.42 billion.
• Qorvo reported quarterly EPS of $1.64, beating analyst expectations of $1.11, while revenue reached $784.79 million. Despite the earnings beat, analysts’ consensus rating remained “Hold”, with an average price target of $94.

Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) SVP Paul Fego sold 2,500 shares of the firm's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $114.11, for a total transaction of $285,275.00. Following the completion of the sale, the senior vice president directly owned 74,460 shares of the company's stock, valued at approximately $8,496,630.60. This represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Qorvo Stock Up 9.3%

• Qorvo NASDAQ: QRVO Will Be One Wild Buy

Shares of NASDAQ QRVO traded up $10.08 during mid-day trading on Tuesday, hitting $118.06. 2,287,648 shares of the stock traded hands, compared to its average volume of 1,272,417. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.68 and a current ratio of 3.54. The company has a market cap of $10.42 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 2.02 and a beta of 1.45. The stock has a fifty day moving average price of $94.27 and a 200-day moving average price of $90.58. Qorvo, Inc. has a 52 week low of $74.92 and a 52 week high of $120.52.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.53. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. The company had revenue of $784.79 million during the quarter, compared to analyst estimates of $743.28 million. During the same period last year, the business earned $0.92 EPS. Qorvo's quarterly revenue was down 4.2% compared to the same quarter last year. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Research analysts anticipate that Qorvo, Inc. will post 6.41 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on QRVO shares. UBS Group upped 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 restated a "hold (c)" rating on shares of Qorvo in a research note on Friday, July 24th. Citigroup decreased their target price on shares of Qorvo from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 29th. TD Cowen restated a "hold" rating on shares of Qorvo in a research report on Wednesday, July 29th. Finally, Wall Street Zen upgraded shares of Qorvo from a "hold" rating to a "buy" rating in a research report on Sunday, August 2nd. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $94.00.

Institutional Investors Weigh In On Qorvo

Several hedge funds and other institutional investors have recently modified their holdings of QRVO. Global Retirement Partners LLC acquired a new stake in Qorvo in the second quarter worth about $32,000. Elevation Wealth Partners LLC increased its holdings in shares of Qorvo by 301.0% during the second quarter. Elevation Wealth Partners LLC now owns 413 shares of the semiconductor company's stock valued at $39,000 after acquiring an additional 310 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Qorvo during the second quarter valued at about $43,000. Covestor Ltd raised its position in shares of Qorvo by 142.1% in the 4th quarter. Covestor Ltd now owns 523 shares of the semiconductor company's stock valued at $44,000 after purchasing an additional 307 shares during the last quarter. Finally, Transamerica Financial Advisors LLC purchased a new position in shares of Qorvo in the 2nd quarter valued at approximately $52,000. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Qorvo Company Profile

Qorvo, Inc is a semiconductor company that develops and manufactures radio-frequency (RF) and related connectivity solutions. Its products are used to generate, filter, amplify and manage wireless signals in communications equipment and electronic devices.

The company supplies RF components, modules and integrated circuits for smartphones, cellular base stations, Wi-Fi equipment, automotive systems, Internet of Things devices, consumer electronics, and aerospace and defense applications.

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