Roderick Nelson Sells 500 Shares of Qorvo Inc (NASDAQ:QRVO) Stock

Qorvo Inc (NASDAQ:QRVO) Director Roderick Nelson sold 500 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $69.85, for a total value of $34,925.00. Following the completion of the transaction, the director now directly owns 4,782 shares in the company, valued at approximately $334,022.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Roderick Nelson also recently made the following trade(s):

  • On Monday, August 12th, Roderick Nelson sold 500 shares of Qorvo stock. The shares were sold at an average price of $69.03, for a total value of $34,515.00.

Shares of NASDAQ:QRVO traded up $2.31 on Tuesday, reaching $71.70. 999,176 shares of the company traded hands, compared to its average volume of 1,407,779. The business has a 50-day simple moving average of $70.46. Qorvo Inc has a 52 week low of $54.74 and a 52 week high of $83.96. The stock has a market capitalization of $8.18 billion, a PE ratio of 13.66, a P/E/G ratio of 1.71 and a beta of 1.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.44 and a quick ratio of 2.30.



Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $1.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.23. Qorvo had a return on equity of 15.77% and a net margin of 6.39%. The firm had revenue of $775.60 million for the quarter, compared to analysts’ expectations of $738.98 million. During the same period last year, the firm earned $0.96 earnings per share. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, analysts expect that Qorvo Inc will post 4.3 earnings per share for the current fiscal year.

QRVO has been the topic of a number of research analyst reports. Raymond James increased their target price on Qorvo from $70.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Barclays cut Qorvo from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $70.00 to $60.00 in a research note on Thursday, June 6th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 target price on shares of Qorvo in a research note on Monday, August 5th. Craig Hallum reissued a “buy” rating and issued a $85.00 target price (up previously from $75.00) on shares of Qorvo in a research note on Friday, August 2nd. Finally, Mizuho set a $70.00 target price on Qorvo and gave the company a “hold” rating in a research note on Friday, August 2nd. Fourteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Qorvo has an average rating of “Hold” and an average target price of $76.86.

Several large investors have recently made changes to their positions in the company. ETF Managers Group LLC grew its stake in shares of Qorvo by 7.9% during the first quarter. ETF Managers Group LLC now owns 2,031 shares of the semiconductor company’s stock valued at $146,000 after buying an additional 149 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Qorvo by 2.1% during the second quarter. Commonwealth Equity Services LLC now owns 7,832 shares of the semiconductor company’s stock worth $521,000 after purchasing an additional 158 shares during the period. Diversified Trust Co boosted its holdings in shares of Qorvo by 4.0% during the first quarter. Diversified Trust Co now owns 4,507 shares of the semiconductor company’s stock worth $323,000 after purchasing an additional 172 shares during the period. Commerce Bank boosted its holdings in shares of Qorvo by 6.2% during the second quarter. Commerce Bank now owns 3,637 shares of the semiconductor company’s stock worth $242,000 after purchasing an additional 212 shares during the period. Finally, World Asset Management Inc boosted its holdings in shares of Qorvo by 3.2% during the second quarter. World Asset Management Inc now owns 8,179 shares of the semiconductor company’s stock worth $545,000 after purchasing an additional 253 shares during the period. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

Qorvo Company Profile

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 (PAs), low noise amplifiers (LNAs), 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.

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