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Qorvo executive Steven Creviston sells over $297k in stock

Published 05/16/2024, 06:21 PM
QRVO
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GREENSBORO, NC – Qorvo, Inc. (NASDAQ:QRVO) Senior Vice President of Connectivity & Sensors, Steven E. Creviston, has recently engaged in significant stock transactions, according to the latest SEC filings. The executive sold shares worth over $297,930 at a price of $99.31.

The transactions included a sale of 3,000 shares of Qorvo common stock, which took place on May 15, 2024. This sale was executed under a Rule 10b5-1 trading plan, a mechanism that allows company insiders to set up a predetermined plan to sell stocks at a time when they are not in possession of material non-public information.

In addition to the sales, Creviston also reported automatic transactions coded as "F," which are typically associated with the exercise or settlement of equity awards. These transactions totaled $440,986 and occurred with prices ranging between $98.35 and $99.05.

Furthermore, the SEC filing revealed an acquisition coded as "A" for Creviston, involving 17,208 shares of common stock at no cost, typically indicating the award of stock compensation or the vesting of restricted stock units.

Following these transactions, Creviston's ownership in Qorvo, Inc. has seen adjustments, but he remains a significant shareholder with a substantial interest in the company's performance.

Investors often monitor the buying and selling activity of company executives as it can provide insights into their perspective on the company's current valuation and future prospects. With Qorvo being a key player in the semiconductor and related devices industry, such transactions are closely watched for indications of executive confidence and strategic positioning.

InvestingPro Insights

Qorvo's recent insider transactions come at a time when the company's financial health and market performance are under the microscope. According to InvestingPro data, Qorvo's market capitalization stands at $9.61 billion. Despite the company not being profitable over the last twelve months, with a negative P/E ratio of -139.29, analysts are predicting profitability this year. This optimism is reflected in the company's revenue growth, which was reported at 5.61% over the last twelve months as of Q1 2024.

One notable InvestingPro Tip highlights that Qorvo's management has been aggressively buying back shares, signaling confidence in the company's value. Additionally, the company's liquid assets exceed its short-term obligations, which is a reassuring sign of financial stability. These factors, combined with a high shareholder yield, suggest that Qorvo may be an attractive investment for those looking for companies with strong buyback programs and solid balance sheets.

For investors seeking a deeper dive into Qorvo's potential, there are 20 additional InvestingPro Tips available, providing a comprehensive analysis of the company's financials, market performance, and future outlook. With the use of coupon code PRONEWS24, investors can gain an extra 10% off a yearly or biyearly Pro and Pro+ subscription to access these insights and make well-informed investment decisions.

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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