6,432 Shares in Qorvo, Inc. $QRVO Bought by Summit Global Investments

Summit Global Investments bought a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,432 shares of the semiconductor company’s stock, valued at approximately $600,000.

Other hedge funds have also modified their holdings of the company. Fred Alger Management LLC increased its stake in Qorvo by 5.3% in the 3rd quarter. Fred Alger Management LLC now owns 3,179 shares of the semiconductor company’s stock worth $290,000 after purchasing an additional 160 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in Qorvo by 4.4% during the first quarter. Fifth Third Wealth Advisors LLC now owns 3,955 shares of the semiconductor company’s stock valued at $306,000 after buying an additional 167 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in Qorvo by 60.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 180 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Qorvo by 14.6% in the fourth quarter. Larson Financial Group LLC now owns 1,483 shares of the semiconductor company’s stock worth $125,000 after buying an additional 189 shares during the period. Finally, Lido Advisors LLC boosted its holdings in shares of Qorvo by 4.1% in the fourth quarter. Lido Advisors LLC now owns 4,816 shares of the semiconductor company’s stock worth $431,000 after buying an additional 191 shares during the period. 88.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on QRVO shares. UBS Group boosted their target price on shares of Qorvo from $91.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. TD Cowen reiterated a “hold” rating on shares of Qorvo in a report on Wednesday, July 29th. Mizuho restated an “underperform” rating and set a $66.00 price target (down from $70.00) on shares of Qorvo in a report on Monday, April 20th. Citigroup dropped their price objective on shares of Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Finally, Barclays upgraded shares of Qorvo from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $95.00 to $100.00 in a research report on Wednesday, April 22nd. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $94.00.

Insiders Place Their Bets

In other news, SVP Paul J. Fego sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the transaction, the senior vice president directly owned 71,038 shares in the company, valued at $7,103,800. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gina Harrison sold 4,714 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $471,400.00. Following the completion of the sale, the vice president directly owned 24,429 shares of the company’s stock, valued at $2,442,900. This represents a 16.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 1,966,127 shares of company stock worth $198,911,103. Corporate insiders own 0.49% of the company’s stock.

Qorvo Stock Down 0.3%

QRVO stock opened at $98.11 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.54 and a quick ratio of 2.68. Qorvo, Inc. has a 52-week low of $74.92 and a 52-week high of $109.49. The company has a 50-day moving average of $92.37 and a two-hundred day moving average of $87.88. The stock has a market capitalization of $8.66 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 1.43 and a beta of 1.44.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.53. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The business had revenue of $784.79 million for the quarter, compared to analyst estimates of $743.28 million. During the same period in the previous year, the company posted $0.92 earnings per share. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, equities research analysts anticipate that Qorvo, Inc. will post 6.3 EPS for the current year.

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.