Insider Selling: Qorvo (NASDAQ:QRVO) SVP Sells 5,487 Shares of Stock

Key Points

• Qorvo SVP Philip Chesley sold 5,487 shares at an average price of $97.50, generating approximately $535,000. His remaining direct ownership fell 11.08% to 44,021 shares.
• Qorvo shares declined 0.4% to $95.70, while the company’s latest quarterly results beat expectations with $1.64 in adjusted EPS versus the $1.11 consensus and revenue of $784.8 million.
• Analysts maintain a broadly neutral view, with a consensus “Hold” rating and a $94 price target; institutional investors own 88.57% of Qorvo’s outstanding stock.

Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) SVP Philip Chesley sold 5,487 shares of the firm's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $97.50, for a total value of $534,982.50. Following the completion of the sale, the senior vice president directly owned 44,021 shares of the company's stock, valued at $4,292,047.50. This trade represents a 11.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Qorvo Trading Down 0.4%

• Qorvo NASDAQ: QRVO Will Be One Wild Buy

Shares of QRVO stock traded down $0.34 on Tuesday, hitting $95.70. 1,156,985 shares of the stock traded hands, compared to its average volume of 1,284,283. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.68 and a current ratio of 3.54. Qorvo, Inc. has a twelve month low of $74.92 and a twelve month high of $109.49. The firm's 50-day moving average price is $92.29 and its two-hundred day moving average price is $88.02. The stock has a market capitalization of $8.44 billion, a PE ratio of 22.20, a PEG ratio of 1.43 and a beta of 1.44.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its earnings results 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 for 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 quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, analysts anticipate that Qorvo, Inc. will post 6.3 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on QRVO shares. Craig Hallum restated a "buy" rating and set a $120.00 target price on shares of Qorvo in a report on Wednesday, May 6th. TD Cowen restated a "hold" rating on shares of Qorvo in a report on Wednesday, July 29th. Citigroup cut 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. UBS Group raised their price target on shares of Qorvo from $91.00 to $96.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Qorvo in a research note on Friday, July 24th. Three investment 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. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $94.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Qorvo in the 2nd quarter valued at approximately $942,610,000. State Street Corp lifted its position in shares of Qorvo by 5.0% during the 2nd quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company's stock worth $314,516,000 after purchasing an additional 175,031 shares during the last quarter. FIL Ltd lifted its position in shares of Qorvo by 13.2% during the 4th quarter. FIL Ltd now owns 3,610,045 shares of the semiconductor company's stock worth $305,085,000 after purchasing an additional 421,224 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Qorvo by 16.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,181,479 shares of the semiconductor company's stock worth $168,842,000 after purchasing an additional 311,645 shares in the last quarter. Finally, Bank of America Corp DE acquired a new position in shares of Qorvo during the second quarter worth $182,131,000. Hedge funds and other institutional investors own 88.57% of the company's stock.

About Qorvo

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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