The stock last traded at $75.81 which is slightly above $72.00, the stock’s 50 day moving average and a tad above the 200 day moving average of $70.96. The 50 day moving average moved up $3.81 and the 200 day average was up $4.85. Trading volume for Qorvo, Inc. was 1,410K on Tuesday. Trading volume was up 47.90% over the stocks average daily volume.
Investors are feeling more bullish on shares of Qorvo, Inc. as implied by the change in short interest. The stock saw a fall in short interest of -0.83% between September 29, 2017 and October 13, 2017. Short shares fell from 6,942,662 to 6,884,857 over that timeframe. The short-interest ratio increased to 9.0 and the percentage of shorted shares was 0.05% on October 13.
Here is a rundown on some insider market activity for Qorvo, Inc. (NASDAQ:QRVO). Director Jeffery R. Gardner disclosed the sale of 1,700 shares. The shares were purchased at an average price of $71.95. The Director now owns $2,377,660 of the stock per the Form 4 SEC filing. VP James L. Klein sold 2,600 shares at an average price of $72.93 on Tue the 5th. The VP now owns $2,945,861 of the stock per an SEC filing yesterday.
These firms have modified their investment in QRVO. State Of New Jersey Common Pension Fund D downsized its position by selling 160,000 shares a decrease of 66.7% in the quarter. State Of New Jersey Common Pension Fund D owns 80,000 shares worth $5,654,000. The total value of its holdings decreased 62.8%. Cornerstone Advisors, Inc. augmented its investment by buying 50 shares an increase of 14.1% from 06/30/2017 to 09/30/2017. Cornerstone Advisors, Inc. now controls 404 shares with a value of $29,000. The value of the position overall is up by 31.8%.
Simplex Trading, LLC cut its holdings by shedding 2,239 shares a decrease of 29.1%. Simplex Trading, LLC now holds 5,467 shares valued at $386,000. The total value of its holdings decreased 20.7%. As of quarter end Clear Harbor Asset Management, LLC had disposed of a total of 5,260 shares trimming its holdings by 8.0%. The value of the total investment in Qorvo, Inc. went from $4,418,000 to $4,256,000 a change of 3.7% quarter over quarter.
August 3 investment analysts at Canaccord Genuity maintained a company rating of “Buy” and lowered the price expectation from $89.00 to $81.00.
As of the last earnings report the EPS was $-0.33 and is estimated to be $5.51 for the current year with 127,267,000 shares outstanding. Next quarter’s EPS is estimated at $1.74 and the next full year EPS is anticipated to be $6.56.
Qorvo, Inc., launched on December 13, 2013, is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs). Its segments include Mobile Products (MP) and Infrastructure and Defense Products (IDP). The Company operates design, sales and manufacturing facilities located throughout Asia, Europe and North America. Its primary manufacturing facilities are located in North Carolina, Oregon, Texas and Florida, and its primary assembly and test facilities are located in China, Costa Rica and Texas..