Qorvo Inc (NASDAQ:QRVO) VP James L. Klein Sells 1,914 Shares of Stock

Qorvo Inc (NASDAQ:QRVO) VP James L. Klein sold 1,914 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $69.93, for a total transaction of $133,846.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

QRVO traded up $1.50 during trading on Friday, reaching $71.61. 1,135,700 shares of the company traded hands, compared to its average volume of 1,352,633. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.30 and a current ratio of 3.44. Qorvo Inc has a 12-month low of $54.74 and a 12-month high of $81.98. The firm has a fifty day simple moving average of $70.89 and a 200 day simple moving average of $69.45. The company has a market cap of $8.22 billion, a P/E ratio of 13.64, a PEG ratio of 1.72 and a beta of 1.09.

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 analysts’ consensus estimates of $0.95 by $0.23. Qorvo had a net margin of 6.39% and a return on equity of 15.77%. The business had revenue of $775.60 million during the quarter, compared to analyst estimates of $738.98 million. During the same period last year, the firm posted $0.96 EPS. The company’s revenue was up 12.0% on a year-over-year basis. As a group, sell-side analysts expect that Qorvo Inc will post 4.3 earnings per share for the current fiscal year.



QRVO has been the subject of several research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of Qorvo in a research report on Monday, August 5th. Canaccord Genuity reaffirmed a “buy” rating and set a $76.00 price target (down previously from $87.00) on shares of Qorvo in a research report on Tuesday, May 21st. BidaskClub raised shares of Qorvo from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. Mizuho set a $70.00 price target on shares of Qorvo and gave the company a “hold” rating in a research report on Friday, August 2nd. Finally, Zacks Investment Research lowered shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Fourteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Qorvo has a consensus rating of “Hold” and an average price target of $76.86.

A number of institutional investors and hedge funds have recently made changes to their positions in QRVO. UBS Group AG boosted its position in shares of Qorvo by 51.1% during the 2nd quarter. UBS Group AG now owns 122,206 shares of the semiconductor company’s stock valued at $8,140,000 after acquiring an additional 41,348 shares during the last quarter. Verition Fund Management LLC bought a new position in shares of Qorvo during the 2nd quarter valued at approximately $583,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Qorvo by 8.8% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,974 shares of the semiconductor company’s stock valued at $997,000 after acquiring an additional 1,207 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in shares of Qorvo by 24.2% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 108,162 shares of the semiconductor company’s stock valued at $7,206,000 after acquiring an additional 21,101 shares during the last quarter. Finally, United Services Automobile Association boosted its position in shares of Qorvo by 2.2% during the 2nd quarter. United Services Automobile Association now owns 72,084 shares of the semiconductor company’s stock valued at $4,802,000 after acquiring an additional 1,569 shares during the last quarter. 93.85% of the stock is owned by institutional investors and hedge funds.

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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