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

Key Points

• Qorvo SVP Steven Creviston sold 4,810 shares at an average price of $116.56, generating $560,653.60 and reducing his holdings by 4.03% to 114,641 shares.
• Qorvo shares fell 3.5% to $113.97 in mid-day trading, despite the company exceeding quarterly earnings and revenue expectations with EPS of $1.64 and revenue of $784.79 million.
• Analysts maintain a predominantly cautious view: Qorvo has an average “Hold” rating and a $94 target price, while institutional investors own 88.57% of the company.

Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) SVP Steven Creviston sold 4,810 shares of the firm's stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $116.56, for a total value of $560,653.60. Following the completion of the sale, the senior vice president directly owned 114,641 shares of the company's stock, valued at $13,362,554.96. The trade was a 4.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Qorvo Trading Down 3.5%

• Qorvo NASDAQ: QRVO Will Be One Wild Buy

Qorvo stock traded down $4.09 during mid-day trading on Wednesday, reaching $113.97. 1,777,502 shares of the company traded hands, compared to its average volume of 1,275,300. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.54 and a quick ratio of 2.68. Qorvo, Inc. has a 52-week low of $74.92 and a 52-week high of $120.52. The firm has a market capitalization of $10.05 billion, a price-to-earnings ratio of 26.44, a P/E/G ratio of 1.87 and a beta of 1.45. The firm's 50 day moving average price is $94.93 and its 200 day moving average price is $90.83.

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 the consensus estimate of $1.11 by $0.53. The business had revenue of $784.79 million during the quarter, compared to analyst estimates of $743.28 million. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. Qorvo's quarterly revenue was down 4.2% compared to the same quarter last year. During the same period last year, the business posted $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, analysts anticipate that Qorvo, Inc. will post 6.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

QRVO has been the topic of several research reports. Weiss Ratings restated a "hold (c)" rating on shares of Qorvo in a research report on Friday, July 24th. TD Cowen reiterated a "hold" rating on shares of Qorvo in a report on Wednesday, July 29th. Wall Street Zen raised Qorvo from a "hold" rating to a "buy" rating in a research report on Sunday, August 2nd. UBS Group boosted their target price on shares of Qorvo from $91.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, July 29th. Finally, Citigroup reduced their target price on shares of Qorvo from $100.00 to $95.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 29th. Three research 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. According to MarketBeat, Qorvo currently has an average rating of "Hold" and an average target price of $94.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QRVO. Global Retirement Partners LLC bought a new stake in Qorvo in the second quarter worth $32,000. Elevation Wealth Partners LLC raised its position in shares of Qorvo by 301.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 413 shares of the semiconductor company's stock worth $39,000 after purchasing an additional 310 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Qorvo in the 2nd quarter worth about $43,000. Covestor Ltd increased its stake in Qorvo by 142.1% during 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 in the last quarter. Finally, Transamerica Financial Advisors LLC purchased a new position in Qorvo in the second quarter worth about $52,000. Institutional investors own 88.57% of the company's stock.

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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