Qorvo, Inc. $QRVO Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC decreased its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 51.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 271,236 shares of the semiconductor company’s stock after selling 291,054 shares during the quarter. Clearbridge Investments LLC’s holdings in Qorvo were worth $22,922,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Syon Capital LLC boosted its position in shares of Qorvo by 74.9% during the 4th quarter. Syon Capital LLC now owns 7,829 shares of the semiconductor company’s stock valued at $662,000 after acquiring an additional 3,352 shares during the last quarter. Pinebridge Investments LLC purchased a new stake in Qorvo in the 4th quarter valued at about $806,000. Vise Technologies Inc. raised its holdings in Qorvo by 19.7% in the 4th quarter. Vise Technologies Inc. now owns 3,516 shares of the semiconductor company’s stock valued at $297,000 after buying an additional 578 shares during the period. Lido Advisors LLC raised its holdings in Qorvo by 4.1% in the 4th quarter. Lido Advisors LLC now owns 4,816 shares of the semiconductor company’s stock valued at $431,000 after buying an additional 191 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Qorvo by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 532,586 shares of the semiconductor company’s stock valued at $45,009,000 after buying an additional 6,563 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Stock Down 2.0%

Shares of NASDAQ:QRVO opened at $97.94 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.24 and a quick ratio of 2.46. The firm has a market capitalization of $8.62 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 1.56 and a beta of 1.43. The firm’s 50-day moving average is $90.28 and its two-hundred day moving average is $85.45. Qorvo, Inc. has a 1 year low of $74.92 and a 1 year high of $109.49.

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

Insider Buying and Selling at Qorvo

In other Qorvo news, SVP Paul J. Fego sold 2,500 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the sale, the senior vice president directly owned 71,038 shares in the company, valued at $7,103,800. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert A. Bruggeworth sold 57,957 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $100.40, for a total transaction of $5,818,882.80. Following the sale, the chief executive officer owned 319,880 shares in the company, valued at $32,115,952. The trade was a 15.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,966,127 shares of company stock valued at $198,911,103 over the last three months. 0.41% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. UBS Group boosted their price objective on shares of Qorvo from $87.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a report on Monday, April 27th. Craig Hallum restated a “buy” rating and issued a $120.00 price objective on shares of Qorvo in a report on Wednesday, May 6th. Mizuho restated an “underperform” rating and issued a $66.00 price objective (down from $70.00) on shares of Qorvo in a report on Monday, April 20th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $96.63.

Qorvo Company 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.