Shares of Qorvo Inc (NASDAQ:QRVO) were down 5.4% during trading on Monday . The stock traded as low as $70.48 and last traded at $71.05. Approximately 1,917,966 shares were traded during mid-day trading, an increase of 44% from the average daily volume of 1,335,593 shares. The stock had previously closed at $75.07.

Several analysts have commented on QRVO shares. Canaccord Genuity lowered Qorvo from a “buy” rating to a “hold” rating and dropped their price objective for the company from $77.00 to $70.00 in a report on Friday, February 8th. Piper Jaffray Companies restated an “overweight” rating and issued a $75.00 target price on shares of Qorvo in a research report on Friday, February 8th. ValuEngine downgraded Qorvo from a “hold” rating to a “sell” rating in a research report on Friday, February 8th. BidaskClub downgraded Qorvo from a “hold” rating to a “sell” rating in a research report on Wednesday, February 20th. Finally, Needham & Company LLC restated a “buy” rating and issued a $70.00 target price on shares of Qorvo in a research report on Monday, March 4th. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $78.78.

The stock has a market capitalization of $8.72 billion, a P/E ratio of 14.02, a P/E/G ratio of 1.22 and a beta of 0.92. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.87 and a quick ratio of 2.69.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Tuesday, May 7th. The semiconductor company reported $1.14 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $680.88 million for the quarter, compared to the consensus estimate of $670.59 million. During the same quarter last year, the business posted $1.07 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. As a group, analysts expect that Qorvo Inc will post 5.13 earnings per share for the current fiscal year.

In related news, VP James L. Klein sold 1,914 shares of Qorvo stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $77.16, for a total transaction of $147,684.24. Following the transaction, the vice president now owns 45,374 shares in the company, valued at $3,501,057.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ralph Quinsey sold 209,349 shares of Qorvo stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $69.01, for a total value of $14,447,174.49. Following the transaction, the director now owns 84,242 shares in the company, valued at approximately $5,813,540.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 218,279 shares of company stock worth $15,097,289. 0.85% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc raised its position in Qorvo by 1.0% in the third quarter. Vanguard Group Inc now owns 13,123,467 shares of the semiconductor company’s stock valued at $1,009,063,000 after purchasing an additional 128,991 shares during the period. Boston Partners raised its position in Qorvo by 6.5% in the first quarter. Boston Partners now owns 3,916,687 shares of the semiconductor company’s stock valued at $280,944,000 after purchasing an additional 238,370 shares during the period. Oregon Public Employees Retirement Fund raised its position in Qorvo by 8,987.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,660,561 shares of the semiconductor company’s stock valued at $60,000 after purchasing an additional 3,620,278 shares during the period. Manning & Napier Group LLC raised its position in Qorvo by 3.8% in the fourth quarter. Manning & Napier Group LLC now owns 3,066,202 shares of the semiconductor company’s stock valued at $186,209,000 after purchasing an additional 111,410 shares during the period. Finally, Geode Capital Management LLC raised its position in Qorvo by 4.8% in the first quarter. Geode Capital Management LLC now owns 1,849,455 shares of the semiconductor company’s stock valued at $132,440,000 after purchasing an additional 84,749 shares during the period. Hedge funds and other institutional investors own 91.52% of the company’s stock.

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Qorvo Company Profile (NASDAQ:QRVO)

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.

See Also: Retained Earnings

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