Qorvo Inc (NASDAQ:QRVO) VP Sells $135,051.84 in Stock

Qorvo Inc (NASDAQ:QRVO) VP James L. Klein sold 1,914 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $70.56, for a total value of $135,051.84. Following the completion of the sale, the vice president now owns 50,031 shares in the company, valued at approximately $3,530,187.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Qorvo stock opened at $71.24 on Friday. The stock has a market capitalization of $8.32 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 2.15 and a beta of 1.08. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.69 and a current ratio of 3.87. Qorvo Inc has a 12 month low of $54.74 and a 12 month high of $86.50. The company’s fifty day moving average price is $65.95.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, May 7th. The semiconductor company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.23. Qorvo had a return on equity of 14.66% and a net margin of 4.31%. The company had revenue of $680.88 million for the quarter, compared to analyst estimates of $670.59 million. During the same quarter in the previous year, the firm earned $1.07 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, research analysts forecast that Qorvo Inc will post 4.12 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of QRVO. Arlington Partners LLC purchased a new position in Qorvo in the second quarter valued at about $29,000. CSat Investment Advisory L.P. grew its stake in Qorvo by 82.9% in the fourth quarter. CSat Investment Advisory L.P. now owns 534 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 242 shares during the last quarter. Lavaca Capital LLC purchased a new position in Qorvo in the first quarter valued at about $45,000. NEXT Financial Group Inc grew its stake in Qorvo by 63.5% in the second quarter. NEXT Financial Group Inc now owns 868 shares of the semiconductor company’s stock valued at $58,000 after purchasing an additional 337 shares during the last quarter. Finally, Penserra Capital Management LLC purchased a new position in Qorvo in the first quarter valued at about $107,000. Institutional investors own 93.83% of the company’s stock.

QRVO has been the topic of a number of recent analyst reports. Goldman Sachs Group set a €76.00 ($88.37) target price on Symrise and gave the stock a “neutral” rating in a research note on Thursday, March 21st. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Qorvo in a research note on Sunday, May 26th. BidaskClub upgraded Acceleron Pharma from a “strong sell” rating to a “sell” rating in a research note on Friday. Raymond James set a $31.00 target price on Mylan and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Finally, UBS Group reiterated a “hold” rating on shares of Daimler in a research note on Wednesday, May 22nd. Fifteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $75.52.

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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