Paul J. Fego Sells 2,413 Shares of Qorvo, Inc. (NASDAQ:QRVO) Stock

Qorvo, Inc. (NASDAQ:QRVOGet Rating) VP Paul J. Fego sold 2,413 shares of Qorvo stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $85.42, for a total transaction of $206,118.46. Following the sale, the vice president now owns 31,666 shares of the company’s stock, valued at $2,704,909.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Qorvo Stock Up 0.6 %

Shares of Qorvo stock opened at $85.93 on Friday. The company has a current ratio of 3.30, a quick ratio of 2.12 and a debt-to-equity ratio of 0.48. The company’s fifty day simple moving average is $99.23 and its two-hundred day simple moving average is $107.39. The company has a market cap of $8.87 billion, a P/E ratio of 11.63, a PEG ratio of 1.88 and a beta of 1.38. Qorvo, Inc. has a 12-month low of $83.90 and a 12-month high of $178.80.

Qorvo (NASDAQ:QRVOGet Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The semiconductor company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.05. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. Qorvo had a net margin of 17.87% and a return on equity of 26.50%. Research analysts anticipate that Qorvo, Inc. will post 7.03 EPS for the current year.

Wall Street Analysts Forecast Growth

QRVO has been the subject of several research analyst reports. Raymond James dropped their target price on shares of Qorvo from $155.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, August 4th. Exane BNP Paribas initiated coverage on shares of Qorvo in a research report on Tuesday, September 13th. They set a “neutral” rating for the company. Mizuho dropped their target price on shares of Qorvo from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Thursday, August 4th. JPMorgan Chase & Co. lowered their price objective on shares of Qorvo from $140.00 to $125.00 and set an “overweight” rating for the company in a report on Thursday, August 4th. Finally, StockNews.com lowered shares of Qorvo from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Qorvo currently has an average rating of “Hold” and an average price target of $131.13.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vulcan Value Partners LLC grew its position in shares of Qorvo by 30.1% in the 4th quarter. Vulcan Value Partners LLC now owns 5,640,650 shares of the semiconductor company’s stock worth $882,141,000 after buying an additional 1,304,458 shares during the period. Capital Research Global Investors grew its position in shares of Qorvo by 42.4% in the 1st quarter. Capital Research Global Investors now owns 4,350,210 shares of the semiconductor company’s stock worth $539,861,000 after buying an additional 1,294,612 shares during the period. Norges Bank purchased a new stake in shares of Qorvo in the 4th quarter worth about $170,362,000. Woodline Partners LP purchased a new stake in shares of Qorvo in the 4th quarter worth about $150,636,000. Finally, Baupost Group LLC MA grew its position in shares of Qorvo by 16.9% in the 4th quarter. Baupost Group LLC MA now owns 5,945,744 shares of the semiconductor company’s stock worth $929,855,000 after buying an additional 861,278 shares during the period. 88.31% of the stock is owned by hedge funds and other institutional investors.

Qorvo Company Profile

(Get Rating)

Qorvo, Inc develops and commercializes technologies and products for wireless, wired, and power markets worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. It offers mobile devices, such as smartphones, wearables, laptops, tablets and other devices; radio frequency power management integrated circuits, ultra-wideband (UWB) system-on-a-chip (SoC) and system-in-package (SiP) solutions, MEMS-based sensors, antenna tuners, and antennaplexers, as well as discrete multiplexers, duplexers, filters, and switches; and cellular base stations include switch-low noise amplifier (LNA) modules, variable gain amplifiers, integrated power amplifier (PA) Doherty modules, discrete LNAs, and high power GaN amplifiers.

Read More

Insider Buying and Selling by Quarter for Qorvo (NASDAQ:QRVO)

Receive News & Ratings for Qorvo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qorvo and related companies with MarketBeat.com's FREE daily email newsletter.