Qorvo Inc. (NASDAQ:QRVO) VP James L. Klein sold 1,384 shares of the company’s stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $55.00, for a total transaction of $76,120.00. Following the completion of the transaction, the vice president now owns 39,821 shares of the company’s stock, valued at approximately $2,190,155. The sale was disclosed in a filing with the SEC, which is available at this link.
Qorvo Inc. (NASDAQ:QRVO) opened at 56.64 on Friday. The stock’s market cap is $7.24 billion. Qorvo Inc. has a one year low of $33.30 and a one year high of $64.80. The stock has a 50 day moving average of $55.73 and a 200-day moving average of $53.25.
Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, August 2nd. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.03. Qorvo had a negative net margin of 1.39% and a positive return on equity of 9.32%. The firm earned $697.60 million during the quarter, compared to analyst estimates of $650.62 million. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. Analysts anticipate that Qorvo Inc. will post $5.09 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in QRVO. Wunderlich Capital Managemnt acquired a new stake in Qorvo during the first quarter valued at $109,000. Advisor Group Inc. acquired a new stake in Qorvo during the second quarter valued at $145,000. Oppenheimer & Co. Inc. acquired a new stake in Qorvo during the second quarter valued at $206,000. Advisor Partners LLC acquired a new stake in Qorvo during the first quarter valued at $210,000. Finally, Thrivent Financial for Lutherans acquired a new stake in Qorvo during the second quarter valued at $216,000. Hedge funds and other institutional investors own 87.10% of the company’s stock.
QRVO has been the subject of several research analyst reports. Zacks Investment Research cut shares of Qorvo from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Pacific Crest restated an “equal weight” rating on shares of Qorvo in a report on Monday, August 29th. Brean Capital restated a “buy” rating on shares of Qorvo in a report on Wednesday, September 21st. Cowen and Company upped their target price on shares of Qorvo from $55.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, July 22nd. Finally, Drexel Hamilton restated a “buy” rating on shares of Qorvo in a report on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $61.97.