Qorvo (NASDAQ:QRVO) SVP Sells 4,810 Shares of Stock

Key Points

• Qorvo SVP Steven Creviston sold 4,810 shares at an average price of $100.87, generating proceeds of $485,184.70 and reducing his direct stake by 3.87% to 119,451 shares.
• Qorvo shares slipped 0.2% to $100.38, while the company reported quarterly EPS of $1.64 and revenue of $784.79 million—beating analyst estimates, though revenue declined 4.2% year over year.
• Analyst sentiment remains mixed: Qorvo has a consensus “Hold” rating and an average price target of $94, despite 88.57% institutional ownership and some recent bullish ratings.

Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) SVP Steven Creviston sold 4,810 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $100.87, for a total transaction of $485,184.70. Following the transaction, the senior vice president directly owned 119,451 shares in the company, valued at $12,049,022.37. This trade represents a 3.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Qorvo Stock Down 0.2%

• Qorvo NASDAQ: QRVO Will Be One Wild Buy

Qorvo stock traded down $0.25 during midday trading on Thursday, reaching $100.38. The stock had a trading volume of 1,071,475 shares, compared to its average volume of 1,256,104. Qorvo, Inc. has a 12 month low of $74.92 and a 12 month high of $109.49. The company 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 company has a fifty day moving average price of $91.81 and a two-hundred day moving average price of $89.27. The company has a current ratio of 3.54, a quick ratio of 2.68 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced 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. The business had revenue of $784.79 million for the quarter, compared to analyst estimates of $743.28 million. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The company's quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, equities analysts expect that Qorvo, Inc. will post 6.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Qorvo

Several large investors have recently bought and sold shares of QRVO. Smartleaf Asset Management LLC grew its stake in shares of Qorvo by 215.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company's stock worth $29,000 after acquiring an additional 231 shares in the last quarter. Global Retirement Partners LLC purchased a new position in Qorvo during the second quarter worth about $32,000. Advisory Services Network LLC bought a new stake in Qorvo in the 3rd quarter worth about $36,000. Elevation Wealth Partners LLC increased its stake in Qorvo by 301.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 413 shares of the semiconductor company's stock valued at $39,000 after buying an additional 310 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in Qorvo in the 2nd quarter valued at about $43,000. 88.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Craig Hallum restated a "buy" rating and set a $120.00 price objective on shares of Qorvo in a report on Wednesday, May 6th. Citigroup decreased their target price on shares of Qorvo from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Wednesday, July 29th. TD Cowen restated a "hold" rating on shares of Qorvo in a report on Wednesday, July 29th. Wall Street Zen raised shares of Qorvo from a "hold" rating to a "buy" rating in a research report on Sunday, August 2nd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Qorvo in a research note on Friday, July 24th. Three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Qorvo currently has a consensus rating of "Hold" and an average price target of $94.00.

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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