Qorvo Inc (NASDAQ:QRVO) Director Walter H. Wilkinson Sells 2,762 Shares of Stock

Qorvo Inc (NASDAQ:QRVO) Director Walter H. Wilkinson sold 2,762 shares of Qorvo stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $101.71, for a total value of $280,923.02. Following the transaction, the director now owns 36,565 shares in the company, valued at $3,719,026.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of QRVO stock opened at $104.04 on Friday. Qorvo Inc has a 12-month low of $54.74 and a 12-month high of $104.22. The company has a current ratio of 3.45, a quick ratio of 2.37 and a debt-to-equity ratio of 0.24. The stock’s 50-day moving average price is $80.44 and its 200-day moving average price is $72.60. The stock has a market capitalization of $11.77 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.22. Qorvo had a return on equity of 15.10% and a net margin of 8.19%. The company had revenue of $806.70 million for the quarter, compared to analysts’ expectations of $754.67 million. During the same period in the previous year, the firm posted $1.75 earnings per share. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. As a group, research analysts predict that Qorvo Inc will post 4.76 EPS for the current fiscal year.

Several equities analysts recently weighed in on QRVO shares. Susquehanna Bancshares lifted their target price on Qorvo from $70.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Morgan Stanley raised their price target on Qorvo from $71.00 to $77.00 and gave the company a “weight” rating in a report on Friday, November 1st. Craig Hallum reissued a “buy” rating and set a $100.00 price target (up from $85.00) on shares of Qorvo in a report on Friday, November 1st. Needham & Company LLC raised their price target on Qorvo from $90.00 to $105.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Piper Jaffray Companies raised their price target on Qorvo from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $86.78.

Hedge funds and other institutional investors have recently modified their holdings of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of Qorvo by 7.4% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,452 shares of the semiconductor company’s stock valued at $108,000 after buying an additional 100 shares during the period. Commonwealth Equity Services LLC boosted its position 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 valued at $521,000 after buying an additional 158 shares during the period. World Asset Management Inc boosted its position in shares of Qorvo by 2.1% during the third quarter. World Asset Management Inc now owns 8,349 shares of the semiconductor company’s stock valued at $619,000 after buying an additional 170 shares during the period. Commerce Bank boosted its holdings in shares of Qorvo by 6.2% in the second quarter. Commerce Bank now owns 3,637 shares of the semiconductor company’s stock valued at $242,000 after purchasing an additional 212 shares during the period. Finally, Pillar Pacific Capital Management LLC boosted its holdings in shares of Qorvo by 0.5% in the third quarter. Pillar Pacific Capital Management LLC now owns 49,893 shares of the semiconductor company’s stock valued at $3,700,000 after purchasing an additional 250 shares during the period. 91.79% of the stock is currently owned by institutional investors.

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 (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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