Legal & General Group Plc Has $19.20 Million Stake in Qorvo, Inc. $QRVO

Legal & General Group Plc reduced its position in Qorvo, Inc. (NASDAQ:QRVO) by 16.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 227,154 shares of the semiconductor company’s stock after selling 44,125 shares during the quarter. Legal & General Group Plc’s holdings in Qorvo were worth $19,197,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Optimize Financial Inc bought a new position in Qorvo during the third quarter worth $1,349,000. Jain Global LLC raised its stake in Qorvo by 71.6% during the third quarter. Jain Global LLC now owns 277,219 shares of the semiconductor company’s stock worth $25,249,000 after buying an additional 115,640 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Qorvo by 58.7% during the third quarter. JPMorgan Chase & Co. now owns 313,156 shares of the semiconductor company’s stock worth $28,522,000 after buying an additional 115,890 shares during the last quarter. SG Americas Securities LLC raised its stake in Qorvo by 2,687.9% during the fourth quarter. SG Americas Securities LLC now owns 234,464 shares of the semiconductor company’s stock worth $19,815,000 after buying an additional 226,054 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Qorvo by 83.6% during the third quarter. Envestnet Asset Management Inc. now owns 40,443 shares of the semiconductor company’s stock worth $3,684,000 after buying an additional 18,415 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Qorvo news, SVP Paul J. Fego sold 2,500 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the transaction, the senior vice president directly owned 71,038 shares of the company’s stock, valued at approximately $7,103,800. This trade represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Gina Harrison sold 4,714 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total transaction of $471,400.00. Following the completion of the transaction, the vice president directly owned 24,429 shares in the company, valued at $2,442,900. This trade represents a 16.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 8,170 shares of company stock worth $812,220 over the last ninety days. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

QRVO has been the subject of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Qorvo in a report on Monday, April 27th. UBS Group lifted their target price on Qorvo from $87.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Barclays upgraded Qorvo from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $95.00 to $100.00 in a report on Wednesday, April 22nd. Craig Hallum reaffirmed a “buy” rating and set a $120.00 price objective on shares of Qorvo in a research report on Wednesday, May 6th. Finally, Mizuho reiterated an “underperform” rating and set a $66.00 target price (down from $70.00) on shares of Qorvo in a research report on Monday, April 20th. Three research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $96.63.

Qorvo Price Performance

Shares of QRVO opened at $99.97 on Tuesday. The business’s fifty day moving average is $87.63 and its 200 day moving average is $84.71. Qorvo, Inc. has a 12-month low of $74.77 and a 12-month high of $109.49. The company has a quick ratio of 2.46, a current ratio of 3.24 and a debt-to-equity ratio of 0.46. The stock has a market cap of $8.80 billion, a P/E ratio of 27.62, a P/E/G ratio of 1.62 and a beta of 1.42.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.48. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The business had revenue of $808.28 million during the quarter, compared to analyst estimates of $801.31 million. During the same quarter in the previous year, the business posted $1.42 EPS. Qorvo’s quarterly revenue was down 7.0% on a year-over-year basis. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Sell-side analysts anticipate that Qorvo, Inc. will post 5.87 earnings per share for the current fiscal year.

Qorvo Profile

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo’s product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.