Qorvo Inc (NASDAQ:QRVO) Short Interest Update

Qorvo Inc (NASDAQ:QRVO) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 4,834,400 shares, a growth of 7.4% from the May 15th total of 4,500,100 shares. Approximately 4.0% of the company’s shares are short sold. Based on an average daily trading volume, of 1,550,000 shares, the days-to-cover ratio is presently 3.1 days.

In related news, insider Robert A. Bruggeworth sold 25,831 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $72.52, for a total value of $1,873,264.12. Following the completion of the transaction, the insider now directly owns 201,794 shares in the company, valued at approximately $14,634,100.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James L. Klein sold 1,914 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $77.16, for a total value of $147,684.24. Following the completion of the transaction, the vice president now owns 45,374 shares of the company’s stock, valued at $3,501,057.84. The disclosure for this sale can be found here. Insiders have sold a total of 34,573 shares of company stock valued at $2,501,389 over the last 90 days. Corporate insiders own 0.71% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Arlington Partners LLC purchased a new position in shares of Qorvo during the second quarter valued at approximately $29,000. Resources Investment Advisors Inc. bought a new stake in Qorvo during the fourth quarter worth $27,000. CSat Investment Advisory L.P. lifted its holdings in Qorvo by 82.9% during the fourth quarter. CSat Investment Advisory L.P. now owns 534 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 242 shares during the period. Lavaca Capital LLC bought a new stake in Qorvo during the first quarter worth $45,000. Finally, Penserra Capital Management LLC bought a new stake in Qorvo during the first quarter worth $107,000. 92.95% of the stock is currently owned by institutional investors.

Several equities research analysts have commented on the company. Goldman Sachs Group set a €76.00 ($88.37) target price on Symrise and gave the company a “neutral” rating in a research note on Thursday, March 21st. Cowen assumed coverage on Littelfuse in a research note on Tuesday, May 21st. They issued an “outperform” rating and a $210.00 target price on the stock. Craig Hallum restated a “buy” rating and issued a $75.00 target price on shares of Qorvo in a research note on Tuesday, May 21st. Zacks Investment Research upgraded Investors Real Estate Trust Reit from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Finally, Barclays restated a “hold” rating and issued a $23.00 target price on shares of Cypress Semiconductor in a research note on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the company. Qorvo currently has an average rating of “Hold” and a consensus price target of $75.52.

NASDAQ QRVO opened at $70.26 on Friday. The business’s 50 day simple moving average is $64.93. Qorvo has a one year low of $54.74 and a one year high of $86.50. The firm has a market capitalization of $8.29 billion, a PE ratio of 13.38, a P/E/G ratio of 2.14 and a beta of 1.08. The company has a quick ratio of 2.69, a current ratio of 3.87 and a debt-to-equity ratio of 0.21.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Tuesday, May 7th. The semiconductor company reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.23. The firm had revenue of $680.88 million during the quarter, compared to analysts’ expectations of $670.59 million. Qorvo had a return on equity of 14.66% and a net margin of 4.31%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.07 earnings per share. As a group, sell-side analysts predict that Qorvo will post 4.12 earnings per share for the current year.

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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