Traders Sell Qorvo (QRVO) on Strength (QRVO)

Investors sold shares of Qorvo Inc (NASDAQ:QRVO) on strength during trading on Monday. $20.44 million flowed into the stock on the tick-up and $61.82 million flowed out of the stock on the tick-down, for a money net flow of $41.38 million out of the stock. Of all companies tracked, Qorvo had the 0th highest net out-flow for the day. Qorvo traded up $0.67 for the day and closed at $85.79

Several equities research analysts have recently commented on the stock. Citigroup upped their price target on shares of Qorvo from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, May 4th. BidaskClub raised shares of Qorvo from a “sell” rating to a “hold” rating in a research report on Thursday, May 3rd. Benchmark assumed coverage on shares of Qorvo in a research report on Friday, June 15th. They set a “buy” rating and a $95.00 price target for the company. Barclays upped their price target on shares of Qorvo from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Mizuho reaffirmed a “hold” rating and set a $74.00 price target on shares of Qorvo in a research report on Thursday, May 3rd. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the stock. Qorvo presently has an average rating of “Hold” and an average target price of $82.39.

The firm has a market capitalization of $10.85 billion, a PE ratio of 17.47, a P/E/G ratio of 1.40 and a beta of 1.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.11 and a current ratio of 4.18.



Qorvo (NASDAQ:QRVO) last released its earnings results on Wednesday, May 2nd. The semiconductor company reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.02. The company had revenue of $665.40 million during the quarter, compared to analyst estimates of $655.67 million. Qorvo had a negative net margin of 1.35% and a positive return on equity of 12.50%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.85 EPS. analysts anticipate that Qorvo Inc will post 5.14 EPS for the current year.

In related news, VP Steven E. Creviston sold 6,000 shares of the stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $72.75, for a total value of $436,500.00. Following the completion of the sale, the vice president now directly owns 64,725 shares of the company’s stock, valued at approximately $4,708,743.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Steven E. Creviston sold 3,000 shares of the stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $79.99, for a total transaction of $239,970.00. Following the sale, the vice president now directly owns 79,646 shares of the company’s stock, valued at $6,370,883.54. The disclosure for this sale can be found here. Insiders sold a total of 60,404 shares of company stock valued at $4,798,110 over the last three months. 0.91% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in QRVO. Resources Investment Advisors Inc. grew its holdings in Qorvo by 159.6% during the 1st quarter. Resources Investment Advisors Inc. now owns 1,480 shares of the semiconductor company’s stock valued at $104,000 after buying an additional 910 shares in the last quarter. Wetherby Asset Management Inc. bought a new position in shares of Qorvo during the 4th quarter valued at approximately $209,000. Element Capital Management LLC bought a new position in shares of Qorvo during the 1st quarter valued at approximately $230,000. Blackhawk Capital Partners LLC. boosted its position in shares of Qorvo by 23.9% during the 1st quarter. Blackhawk Capital Partners LLC. now owns 3,390 shares of the semiconductor company’s stock valued at $239,000 after acquiring an additional 655 shares during the last quarter. Finally, TLP Group LLC bought a new position in shares of Qorvo during the 1st quarter valued at approximately $244,000. 97.51% of the stock is owned by institutional investors and hedge funds.

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 (PA), low noise amplifiers, 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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