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Qorvo executive sells over $200k in company stock

Published 05/16/2024, 06:22 PM
QRVO
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Paul J. Fego, the Senior Vice President of Global Operations at Qorvo, Inc. (NASDAQ:QRVO), has recently sold a portion of his holdings in the company. According to the latest filings, Fego sold 2,132 shares of Qorvo stock at a price of $99.31, totaling approximately $211,728.

The transactions, which took place between May 14 and May 15, also included the acquisition of 17,958 shares at no cost, and the disposition of shares through two separate transactions. The first disposition, under a transaction code often associated with payment for the exercise of options or similar instruments, involved 2,372 shares at a price of $98.35, while the second, on the following day, included 1,618 shares at a price of $99.05, bringing the total value of these transactions to $393,549.

The sales were conducted under a Rule 10b5-1 trading plan, which was adopted by Fego on May 8, 2023. This plan allows company insiders to sell shares over a predetermined period of time, providing them with the ability to sell stock without facing potential accusations of insider trading.

Following these transactions, Fego's direct ownership in Qorvo stands at 41,541 shares. The activity comes amidst the normal course of business for executives who often engage in regular stock transactions as part of their compensation and investment strategies.

Investors and the market typically keep a close eye on insider transactions as they can provide insights into executives' perspectives on the company's current valuation and future prospects.

InvestingPro Insights

In light of the recent insider transactions at Qorvo, Inc. (NASDAQ:QRVO), investors may find it beneficial to consider some key metrics and insights provided by InvestingPro. Paul J. Fego's sale of shares has prompted a closer look at the company's financial health and market performance.

An InvestingPro Tip worth noting is that Qorvo’s management has been actively engaged in share buybacks, indicating confidence in the company's value. Additionally, Qorvo is expected to have a high shareholder yield. These activities often signal that a company's leadership believes the stock is undervalued and represents a good buy for investors.

From a data standpoint, Qorvo's market capitalization stands at a robust $9.61 billion. Despite a negative P/E ratio over the last twelve months as of Q4 2024, which can often raise concerns about profitability, analysts are predicting that the company will be profitable this year. The revenue growth figures are also promising, with a 5.61% increase over the last twelve months as of Q4 2024 and an impressive quarterly surge of 48.73% in Q4 2024.

However, it is important to note that the stock has experienced significant volatility, with a 1-month price total return of -10.51% as of the given date in 2024. This could be a point of consideration for investors looking for stable investments.

For those interested in exploring additional insights, there are 20 more InvestingPro Tips available for Qorvo, which can be accessed by visiting https://www.investing.com/pro/QRVO. To enhance your investment research, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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