Insider Selling: Qorvo Inc (NASDAQ:QRVO) Director Sells 347 Shares of Stock

Qorvo Inc (NASDAQ:QRVO) Director Roderick Nelson sold 347 shares of Qorvo stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $70.13, for a total transaction of $24,335.11. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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 transaction of $34,515.00.
  • On Friday, August 9th, Roderick Nelson sold 500 shares of Qorvo stock. The shares were sold at an average price of $69.85, for a total transaction of $34,925.00.

QRVO traded up $1.50 on Friday, reaching $71.61. The company had a trading volume of 1,154,004 shares, compared to its average volume of 1,401,906. Qorvo Inc has a fifty-two week low of $54.74 and a fifty-two week high of $81.98. The stock has a market cap of $8.45 billion, a P/E ratio of 13.64, a P/E/G ratio of 1.76 and a beta of 1.09. The company’s fifty day moving average is $70.80 and its 200 day moving average is $69.44. 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 (NASDAQ:QRVO) last announced its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $1.18 EPS for the quarter, beating the Zacks’ consensus estimate 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 for the quarter, compared to analyst estimates of $738.98 million. During the same quarter in the prior year, the business earned $0.96 EPS. Qorvo’s quarterly revenue was up 12.0% on a year-over-year basis. On average, sell-side analysts expect that Qorvo Inc will post 4.3 EPS for the current year.

Several equities research analysts recently commented on QRVO shares. DA Davidson raised shares of Qorvo from a “sell” rating to a “neutral” rating and set a $74.00 price objective on the stock in a research report on Monday, August 5th. UBS Group boosted their price objective on shares of Qorvo from $68.00 to $74.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Morgan Stanley boosted their price objective on shares of Qorvo from $67.00 to $71.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Barclays cut shares of Qorvo from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $70.00 to $60.00 in a research report on Thursday, June 6th. Finally, BidaskClub raised shares of Qorvo from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. Fourteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Qorvo currently has an average rating of “Hold” and a consensus target price of $76.86.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Amundi Pioneer Asset Management Inc. boosted its holdings in Qorvo by 24.2% in 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 purchasing an additional 21,101 shares during the period. United Services Automobile Association boosted its holdings in Qorvo by 2.2% in the 2nd quarter. United Services Automobile Association now owns 72,084 shares of the semiconductor company’s stock valued at $4,802,000 after purchasing an additional 1,569 shares during the period. Voleon Capital Management LP bought a new stake in Qorvo in the 2nd quarter valued at about $2,731,000. Pictet Asset Management Ltd. boosted its holdings in Qorvo by 3.8% in the 2nd quarter. Pictet Asset Management Ltd. now owns 27,645 shares of the semiconductor company’s stock valued at $1,841,000 after purchasing an additional 1,000 shares during the period. Finally, Nuveen Asset Management LLC boosted its holdings in Qorvo by 13,099.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 406,944 shares of the semiconductor company’s stock valued at $27,107,000 after purchasing an additional 403,861 shares during the period. Institutional investors and hedge funds own 93.85% of the company’s stock.

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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Insider Buying and Selling by Quarter for Qorvo (NASDAQ:QRVO)

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