Qorvo, Inc. (NASDAQ:QRVO) VP James L. Klein sold 4,120 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $68.41, for a total transaction of $281,849.20. Following the sale, the vice president now directly owns 36,358 shares of the company’s stock, valued at approximately $2,487,250.78. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Qorvo, Inc. (QRVO) opened at 68.90 on Friday. The stock’s market capitalization is $8.77 billion. Qorvo, Inc. has a 1-year low of $48.28 and a 1-year high of $79.34. The stock’s 50 day moving average price is $67.19 and its 200 day moving average price is $68.93.
Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.80 by $0.07. Qorvo had a positive return on equity of 10.10% and a negative net margin of 1.40%. The firm had revenue of $640.80 million during the quarter, compared to analysts’ expectations of $632.18 million. During the same period in the prior year, the firm posted $1.08 earnings per share. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. Equities research analysts forecast that Qorvo, Inc. will post $5.54 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of QRVO. BlackRock Inc. boosted its position in shares of Qorvo by 3,264.5% in the first quarter. BlackRock Inc. now owns 8,737,400 shares of the semiconductor company’s stock valued at $599,038,000 after buying an additional 8,477,705 shares during the period. Baupost Group LLC MA bought a new position in shares of Qorvo during the first quarter valued at approximately $492,639,000. Manning & Napier Advisors LLC bought a new position in shares of Qorvo during the second quarter valued at approximately $101,456,000. Todd Asset Management LLC boosted its position in shares of Qorvo by 182.7% in the first quarter. Todd Asset Management LLC now owns 699,334 shares of the semiconductor company’s stock valued at $47,947,000 after buying an additional 451,987 shares during the period. Finally, Strs Ohio boosted its position in shares of Qorvo by 105.3% in the first quarter. Strs Ohio now owns 876,710 shares of the semiconductor company’s stock valued at $60,107,000 after buying an additional 449,775 shares during the period. 97.39% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on QRVO shares. TheStreet raised shares of Qorvo from a “c+” rating to a “b” rating in a research report on Wednesday, May 3rd. Needham & Company LLC increased their target price on shares of Qorvo from $70.00 to $86.00 and gave the stock a “buy” rating in a research report on Friday, May 26th. Charter Equity reissued a “buy” rating on shares of Qorvo in a research report on Monday, May 15th. Craig Hallum upped their price target on Qorvo from $68.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, May 4th. Finally, Benchmark Co. started coverage on Qorvo in a report on Tuesday, April 25th. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $73.28.
Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).
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