Robert A. Bruggeworth Sells 27,434 Shares of Qorvo (QRVO) Stock

Qorvo (NASDAQ:QRVO) insider Robert A. Bruggeworth sold 27,434 shares of Qorvo stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $80.02, for a total value of $2,195,268.68. Following the sale, the insider now directly owns 238,197 shares of the company’s stock, valued at $19,060,523.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Qorvo opened at $80.61 on Friday, MarketBeat Ratings reports. The stock has a market capitalization of $10.13 billion, a PE ratio of 16.86, a PEG ratio of 1.32 and a beta of 0.93. Qorvo has a one year low of $80.19 and a one year high of $80.97. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.11 and a current ratio of 4.18.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Wednesday, May 2nd. The semiconductor company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.02. The company had revenue of $665.40 million for the quarter, compared to analyst estimates of $655.67 million. Qorvo had a positive return on equity of 12.50% and a negative net margin of 1.35%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 earnings per share. analysts predict that Qorvo will post 5.08 earnings per share for the current fiscal year.

A number of equities research analysts recently commented on the company. Nomura raised Qorvo from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $75.00 to $85.00 in a research note on Thursday, February 1st. BMO Capital Markets boosted their target price on Qorvo from $63.00 to $70.00 and gave the company a “market perform” rating in a research note on Thursday, February 1st. Cowen boosted their target price on Qorvo from $78.00 to $85.00 and gave the company a “market perform” rating in a research note on Thursday, February 1st. Morgan Stanley boosted their target price on Qorvo from $70.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. Finally, Barclays boosted their target price on Qorvo from $75.00 to $87.00 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $81.63.

Institutional investors have recently modified their holdings of the company. Resources Investment Advisors Inc. lifted its holdings in shares of Qorvo by 159.6% in the first quarter. Resources Investment Advisors Inc. now owns 1,480 shares of the semiconductor company’s stock valued at $104,000 after purchasing an additional 910 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in shares of Qorvo by 45.4% in the fourth quarter. Penserra Capital Management LLC now owns 2,660 shares of the semiconductor company’s stock valued at $177,000 after purchasing an additional 831 shares in the last quarter. Wetherby Asset Management Inc. bought a new stake in shares of Qorvo in the fourth quarter valued at about $209,000. Element Capital Management LLC bought a new stake in shares of Qorvo in the first quarter valued at about $230,000. Finally, Blackhawk Capital Partners LLC. lifted its holdings in shares of Qorvo by 23.9% in the first quarter. Blackhawk Capital Partners LLC. now owns 3,390 shares of the semiconductor company’s stock valued at $239,000 after purchasing an additional 655 shares in the last quarter. Institutional investors own 98.40% of the company’s stock.

About Qorvo

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 (PA), low noise amplifiers, 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.

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

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