Insider Selling: Qorvo, Inc. (NASDAQ:QRVO) Director Sells 4,761 Shares of Stock

Qorvo, Inc. (NASDAQ:QRVOGet Rating) Director Roderick Nelson sold 4,761 shares of the stock in a transaction on Monday, May 16th. The shares were sold at an average price of $104.45, for a total transaction of $497,286.45. Following the transaction, the director now owns 5,595 shares of the company’s stock, valued at approximately $584,397.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of NASDAQ:QRVO traded down $3.48 during trading on Wednesday, reaching $104.64. The stock had a trading volume of 1,676,929 shares, compared to its average volume of 1,406,407. Qorvo, Inc. has a one year low of $98.23 and a one year high of $201.46. The company has a market capitalization of $11.35 billion, a P/E ratio of 11.31, a PEG ratio of 1.70 and a beta of 1.34. The company has a current ratio of 3.63, a quick ratio of 2.51 and a debt-to-equity ratio of 0.45. The firm’s 50-day simple moving average is $117.67 and its 200 day simple moving average is $136.46.

Qorvo (NASDAQ:QRVOGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The semiconductor company reported $3.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.41. Qorvo had a net margin of 22.24% and a return on equity of 28.07%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the business earned $2.59 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. Equities research analysts forecast that Qorvo, Inc. will post 9.65 earnings per share for the current fiscal year.

Several equities research analysts have recently weighed in on QRVO shares. Susquehanna Bancshares reduced their target price on shares of Qorvo from $150.00 to $120.00 in a research note on Thursday, May 5th. Bank of America reduced their target price on shares of Qorvo from $180.00 to $165.00 and set a “neutral” rating on the stock in a research note on Thursday, February 3rd. Morgan Stanley downgraded shares of Qorvo from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $185.00 to $150.00 in a research note on Thursday, March 3rd. UBS Group reduced their target price on shares of Qorvo from $145.00 to $135.00 in a research note on Thursday, May 5th. Finally, BMO Capital Markets reduced their target price on shares of Qorvo from $185.00 to $160.00 and set a “market perform” rating on the stock in a research note on Thursday, February 3rd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $162.09.

Several large investors have recently added to or reduced their stakes in QRVO. Standard Family Office LLC bought a new stake in shares of Qorvo in the 4th quarter valued at about $25,000. Bellevue Asset Management LLC acquired a new stake in Qorvo in the 1st quarter worth approximately $25,000. Johnson Financial Group Inc. acquired a new stake in Qorvo in the 4th quarter worth approximately $26,000. Parkside Financial Bank & Trust boosted its stake in Qorvo by 106.4% in the 1st quarter. Parkside Financial Bank & Trust now owns 225 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 116 shares in the last quarter. Finally, IndexIQ Advisors LLC acquired a new stake in Qorvo in the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 85.87% of the company’s stock.

Qorvo Company Profile (Get Rating)

Qorvo, Inc develops and commercializes technologies and products for wireless and wired connectivity worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. The company offers integrated modules incorporating switches, power amplifiers, filters, multiplexers and other components, radio frequency (RF) power management integrated circuits, antenna tuners, antenna-plexers, discrete filters and duplexers, discrete switches, and ultra-wideband (UWB) system solutions.

Recommended Stories

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.