Philip Chesley Sells 4,045 Shares of Qorvo, Inc. (NASDAQ:QRVO) Stock

Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) SVP Philip Chesley sold 4,045 shares of the business's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $70.15, for a total value of $283,756.75. Following the transaction, the senior vice president now owns 30,261 shares of the company's stock, valued at approximately $2,122,809.15. The trade was a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Qorvo Trading Down 0.5 %

NASDAQ QRVO traded down $0.36 on Friday, hitting $68.33. The company's stock had a trading volume of 4,429,969 shares, compared to its average volume of 1,462,425. Qorvo, Inc. has a 52-week low of $64.54 and a 52-week high of $130.99. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. The company's 50-day simple moving average is $84.18 and its 200 day simple moving average is $101.25. The firm has a market cap of $6.46 billion, a P/E ratio of -47.05, a PEG ratio of 5.64 and a beta of 1.42.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.03. The business had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.03 billion. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The business's revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.99 EPS. Research analysts predict that Qorvo, Inc. will post 3.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Barclays decreased their target price on Qorvo from $120.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 30th. Loop Capital assumed coverage on Qorvo in a research note on Monday, November 11th. They issued a "hold" rating and a $73.00 target price on the stock. Needham & Company LLC assumed coverage on Qorvo in a research note on Monday, October 28th. They issued a "buy" rating and a $135.00 target price on the stock. UBS Group decreased their target price on Qorvo from $115.00 to $90.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 30th. Finally, Craig Hallum reduced their price objective on Qorvo from $142.00 to $105.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $102.88.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oddo BHF Asset Management Sas bought a new position in Qorvo during the 3rd quarter valued at approximately $1,616,000. Franklin Resources Inc. increased its position in Qorvo by 43.2% during the 3rd quarter. Franklin Resources Inc. now owns 52,814 shares of the semiconductor company's stock valued at $5,523,000 after buying an additional 15,925 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Qorvo by 188.1% in the 3rd quarter. Tidal Investments LLC now owns 37,729 shares of the semiconductor company's stock worth $3,897,000 after purchasing an additional 24,635 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Qorvo in the third quarter worth $200,000. Finally, Virtu Financial LLC purchased a new position in shares of Qorvo in the third quarter worth $1,211,000. Institutional investors own 88.57% of the company's stock.

About Qorvo

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.

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