Qorvo, Inc. (NASDAQ:QRVO) Senior Vice President Steven E. Creviston has sold a total of 6,000 shares of the company's common stock, according to a recent SEC filing. The transactions, which took place on August 15, 2024, were executed within a price range of $110.0 to $111.0 per share, resulting in an aggregate sale amount exceeding $660,000.
Creviston, who serves as the Senior Vice President of Connectivity & Sensors at Qorvo, carried out the sales under a pre-arranged trading plan in compliance with Rule 10b5-1, established on February 5, 2024. This rule allows company insiders to set up predetermined trading plans for selling stocks at a time when they are not in possession of material non-public information, providing a defense against accusations of insider trading.
Following the sale, the executive's ownership in Qorvo stands at 82,900 shares. The move comes amidst the broader context of insider transactions, which are closely monitored by investors for insights into a company's health and the confidence levels of its top executives.
Qorvo, headquartered in Greensboro, North Carolina, operates within the semiconductor industry and specializes in providing core technologies and radio frequency solutions for mobile, infrastructure, and aerospace/defense applications.
Investors and market watchers often pay close attention to insider sales like these to gauge sentiment and potential future performance of the company's stock.
In other recent news, Qorvo Inc . reported mixed results for its first quarter of fiscal year 2025. Despite a 6% sequential decline in revenue to $887 million, the company posted a 36% increase compared to the same period last year. The non-GAAP gross margin stood at 40.9%, with a non-GAAP diluted EPS of $0.87. TD Cowen maintained a Hold rating on Qorvo but raised the price target from $110.00 to $125.00, based on the company's recent financial performance. Piper Sandler also adjusted its price target for Qorvo from $105.00 to $120.00, maintaining a neutral stance. Craig-Hallum, on the other hand, increased Qorvo's stock price target to $142.00 from $125.00, upholding a Buy rating. For the next quarter, Qorvo anticipates a revenue of approximately $1.025 billion, a non-GAAP gross margin between 46% and 47%, and non-GAAP diluted EPS between $1.75 and $1.95. These recent developments suggest a cautious optimism about Qorvo's financial health and market position.
InvestingPro Insights
As Qorvo Inc. (NASDAQ:QRVO) navigates the semiconductor industry landscape, recent insider sales have prompted a look at the company's financial health and future prospects. According to InvestingPro data, Qorvo holds a market capitalization of approximately $10.55 billion, indicating its substantial presence in the sector. Despite a negative P/E ratio of -409.08, which reflects challenges in the past twelve months, the company's adjusted P/E ratio for the same period stands at a more favorable 45.8. This suggests improved earnings expectations going forward, aligning with one of the InvestingPro Tips that net income is expected to grow this year.
Another metric of note is the company's revenue growth, which has been robust. Over the last twelve months as of Q1 2025, Qorvo's revenue increased by 25.74%, demonstrating strong sales performance. This growth is further underscored by a quarterly revenue growth of 36.17% in Q1 2025, which may be a positive sign for investors looking for expanding operations.
Adding to the financial picture, InvestingPro Tips highlight that Qorvo's management has been actively buying back shares, which can often be interpreted as a signal of confidence in the company's value and future performance. Moreover, Qorvo does not currently pay a dividend, which could indicate that the company is reinvesting its earnings back into growth initiatives or share repurchases.
For readers who are intrigued by these insights, there are additional InvestingPro Tips available for Qorvo that could provide further depth into the company's financial standing and strategic direction. In total, 12 analysts have revised their earnings upwards for the upcoming period, a testament to the positive sentiment surrounding the company's profitability prospects. To explore these additional tips and dive deeper into Qorvo's financials, visit https://www.investing.com/pro/QRVO.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.