Qorvo Sees Unusually Large Options Volume (NASDAQ:QRVO)

Key Points

• Qorvo saw an unusual surge in call-option activity, with 12,507 calls purchased—1,407% above its typical volume of 830 contracts.
• Analyst sentiment remains mixed: Barclays upgraded the stock and JPMorgan raised its price target to $100, while Mizuho downgraded it. Overall, Qorvo has a consensus “Hold” rating and a $94 price target.
• Qorvo shares fell 2.1% to $88.68, despite beating quarterly earnings and revenue estimates; insiders have also sold nearly $199 million of stock over the past 90 days.

Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) saw some unusual options trading on Monday. Stock investors acquired 12,507 call options on the stock. This represents an increase of 1,407% compared to the typical volume of 830 call options.

Wall Street Analysts Forecast Growth

• Qorvo NASDAQ: QRVO Will Be One Wild Buy

Several brokerages have recently weighed in on QRVO. Barclays upgraded shares of Qorvo from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $95.00 to $100.00 in a report on Wednesday, April 22nd. TD Cowen restated a "hold" rating on shares of Qorvo in a report on Wednesday. Wolfe Research downgraded shares of Qorvo from an "outperform" rating to a "peer perform" rating in a research note on Friday, April 17th. JPMorgan Chase & Co. lifted their price target on shares of Qorvo from $85.00 to $100.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. Finally, Mizuho reissued an "underperform" rating and set a $66.00 price objective (down from $70.00) on shares of Qorvo in a research note on Monday, April 20th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $94.00.

Qorvo Trading Down 2.1%

Shares of NASDAQ:QRVO traded down $1.89 during trading on Monday, reaching $88.68. 94,560 shares of the stock were exchanged, compared to its average volume of 1,282,530. The firm's 50-day moving average price is $93.88 and its 200 day moving average price is $86.84. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 1.41 and a beta of 1.44. Qorvo has a 12-month low of $74.92 and a 12-month high of $109.49. 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 (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, beating 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 firm had revenue of $784.79 million for the quarter, compared to analyst estimates of $743.28 million. During the same quarter last year, the firm posted $0.92 earnings per share. Qorvo's revenue for the quarter was down 4.2% compared to the same quarter last year. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, sell-side analysts anticipate that Qorvo will post 5.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Qorvo news, VP Gina Harrison sold 4,714 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $100.00, for a total transaction of $471,400.00. Following the transaction, the vice president owned 24,429 shares of the company's stock, valued at $2,442,900. This represents a 16.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Robert A. Bruggeworth sold 57,957 shares of Qorvo stock in a transaction on Monday, June 1st. The shares were sold at an average price of $100.40, for a total value of $5,818,882.80. Following the completion of the sale, the chief executive officer directly owned 319,880 shares of the company's stock, valued at approximately $32,115,952. This represents a 15.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,966,127 shares of company stock valued at $198,911,103. Insiders own 0.49% of the company's stock.

Institutional Trading of Qorvo

Several large investors have recently added to or reduced their stakes in the stock. Fred Alger Management LLC lifted its stake in shares of Qorvo by 5.3% during the third quarter. Fred Alger Management LLC now owns 3,179 shares of the semiconductor company's stock worth $290,000 after purchasing an additional 160 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its position in Qorvo by 4.4% in the first quarter. Fifth Third Wealth Advisors LLC now owns 3,955 shares of the semiconductor company's stock valued at $306,000 after acquiring an additional 167 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its position in Qorvo by 60.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company's stock valued at $41,000 after acquiring an additional 180 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Qorvo by 14.6% during the fourth quarter. Larson Financial Group LLC now owns 1,483 shares of the semiconductor company's stock valued at $125,000 after purchasing an additional 189 shares during the period. Finally, Lido Advisors LLC raised its stake in shares of Qorvo by 4.1% during the fourth quarter. Lido Advisors LLC now owns 4,816 shares of the semiconductor company's stock valued at $431,000 after purchasing an additional 191 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.

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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