Qorvo Authorizes $1 Billion Share Repurchase Program

published 10:54 pm ET November 7th, 2019

On October 31, Qorvo (QRVO) reported that the company’s Board of Directors authorized a new $1 billion share repurchase program. The new program includes $117 million that was authorized in a prior repurchase program. Qorvo is a leading provider of innovative RF solutions.

 

Jet Equities issued an alert at 4:02 pm. The last trade was at 4:00 pm for $81.30. The stock price jumped to $86.30 when the next trade took place at 4:03 pm. The stock price spiked higher again when regular market trading opened the next morning. Qorvo’s stock closed at $97.22 on November 1 for an event day gain of 19.6%.

 

The stock price continued to increase over the next five trading sessions. On November 7, Qorvo closed at $101.30. That marks a gain of 24.7% in the five days following the repurchase announcement.

Visit the Knowledge Center to learn more about trading share repurchases and buybacks.

Subscribe here if you would like to start receiving these signals in real-time and start trading!