GSA Capital Partners LLP Purchases Shares of 20,002 Qorvo, Inc. $QRVO

GSA Capital Partners LLP purchased a new position in Qorvo, Inc. (NASDAQ:QRVO) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,002 shares of the semiconductor company’s stock, valued at approximately $1,866,000.

Several other institutional investors have also recently made changes to their positions in the stock. State Street Corp increased its holdings in Qorvo by 5.0% in the 2nd quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company’s stock worth $314,516,000 after acquiring an additional 175,031 shares in the last quarter. FIL Ltd lifted its holdings in Qorvo by 13.2% during the fourth quarter. FIL Ltd now owns 3,610,045 shares of the semiconductor company’s stock valued at $305,085,000 after purchasing an additional 421,224 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Qorvo by 16.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,181,479 shares of the semiconductor company’s stock valued at $168,842,000 after purchasing an additional 311,645 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Qorvo by 801.4% in the first quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company’s stock worth $136,795,000 after purchasing an additional 1,571,303 shares during the period. Finally, LSV Asset Management boosted its position in shares of Qorvo by 2.3% in the fourth quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock worth $131,452,000 after purchasing an additional 34,605 shares during the period. Institutional investors own 88.57% of the company’s stock.

Insider Activity at Qorvo

In other Qorvo news, Director Peter A. Feld sold 1,900,000 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $101.20, for a total transaction of $192,280,000.00. Following the completion of the transaction, the director owned 5,611,526 shares of the company’s stock, valued at $567,886,431.20. This represents a 25.29% decrease in their position. The transaction 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 firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $100.40, for a total value of $5,818,882.80. Following the transaction, the chief executive officer owned 319,880 shares of the company’s stock, valued at approximately $32,115,952. The trade was a 15.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,966,127 shares of company stock worth $198,911,103 in the last quarter. 0.49% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on QRVO. Barclays upgraded shares of Qorvo from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $95.00 to $100.00 in a research report on Wednesday, April 22nd. Citigroup dropped their target price on shares of Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. Mizuho reiterated an “underperform” rating and issued a $66.00 price target (down from $70.00) on shares of Qorvo in a research note on Monday, April 20th. TD Cowen reissued a “hold” rating on shares of Qorvo in a report on Wednesday, July 29th. Finally, Wall Street Zen upgraded Qorvo from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. Three investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $94.00.

Qorvo Stock Performance

Qorvo stock opened at $98.11 on Monday. The stock has a market cap of $8.66 billion, a P/E ratio of 22.76, a PEG ratio of 1.43 and a beta of 1.44. 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 1 year low of $74.92 and a 1 year high of $109.49. The firm’s 50 day moving average price is $92.37 and its 200-day moving average price is $87.92.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.11 by $0.53. The firm had revenue of $784.79 million for the quarter, compared to the consensus estimate of $743.28 million. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, equities analysts predict that Qorvo, Inc. will post 6.3 earnings per share for the current fiscal 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.