Qorvo Inc (NASDAQ:QRVO) VP James L. Klein sold 1,440 shares of the firm's stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $125.77, for a total transaction of $181,108.80. Following the transaction, the vice president now owns 47,345 shares in the company, valued at $5,954,580.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of NASDAQ QRVO traded down $1.16 during midday trading on Wednesday, hitting $128.83. The stock had a trading volume of 1,039,823 shares, compared to its average volume of 1,736,029. The company's 50-day simple moving average is $127.36 and its 200 day simple moving average is $105.49. The firm has a market cap of $14.72 billion, a P/E ratio of 38.83, a price-to-earnings-growth ratio of 1.76 and a beta of 1.44. Qorvo Inc has a fifty-two week low of $67.54 and a fifty-two week high of $136.06. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.08 and a quick ratio of 3.05.
Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported $1.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $1.13 by $0.37. The business had revenue of $787.50 million for the quarter, compared to analyst estimates of $729.91 million. Qorvo had a return on equity of 16.10% and a net margin of 12.05%. The firm's revenue was up 1.5% on a year-over-year basis. During the same period last year, the company earned $1.36 EPS. Equities analysts expect that Qorvo Inc will post 6.12 EPS for the current fiscal year.
Several equities research analysts recently weighed in on the company. Mizuho increased their price target on Qorvo from $114.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Goldman Sachs Group raised their price target on Qorvo from $115.00 to $137.00 and gave the company a "buy" rating in a research report on Monday, July 6th. Loop Capital lifted their price objective on Qorvo from $147.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, September 9th. JPMorgan Chase & Co. lifted their price target on Qorvo from $140.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, September 9th. Finally, Needham & Company LLC lifted their price target on Qorvo from $150.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, July 21st. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of "Buy" and a consensus price target of $129.33.
Several institutional investors have recently modified their holdings of QRVO. Nordea Investment Management AB increased its position in Qorvo by 3.7% during the second quarter. Nordea Investment Management AB now owns 11,930 shares of the semiconductor company's stock worth $1,302,000 after buying an additional 427 shares during the last quarter. Cipher Capital LP acquired a new stake in Qorvo in the second quarter valued at $407,000. Advisor Group Holdings Inc. acquired a new stake in Qorvo in the first quarter valued at $1,801,000. Clearbridge Investments LLC grew its holdings in Qorvo by 19.7% during the 1st quarter. Clearbridge Investments LLC now owns 365,874 shares of the semiconductor company's stock worth $29,500,000 after acquiring an additional 60,264 shares during the period. Finally, AXA grew its holdings in Qorvo by 325.1% during the 1st quarter. AXA now owns 13,787 shares of the semiconductor company's stock worth $1,112,000 after acquiring an additional 10,544 shares during the period. Institutional investors own 85.94% of the company's stock.
Qorvo Company Profile
Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.
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