6,207 Shares in Qorvo, Inc. $QRVO Purchased by Ieq Capital LLC

Ieq Capital LLC purchased a new stake in Qorvo, Inc. (NASDAQ:QRVO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,207 shares of the semiconductor company’s stock, valued at approximately $579,000.

A number of other hedge funds have also added to or reduced their stakes in QRVO. BlackRock Inc. bought a new position in shares of Qorvo in the second quarter valued at approximately $942,610,000. State Street Corp lifted its stake in Qorvo by 5.0% during the 2nd quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company’s stock valued at $314,516,000 after acquiring an additional 175,031 shares in the last quarter. FIL Ltd lifted its stake in Qorvo by 13.2% during the 4th quarter. FIL Ltd now owns 3,610,045 shares of the semiconductor company’s stock valued at $305,085,000 after acquiring an additional 421,224 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Qorvo by 16.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,181,479 shares of the semiconductor company’s stock worth $168,842,000 after acquiring an additional 311,645 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Qorvo by 801.4% during the 1st quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company’s stock worth $136,795,000 after acquiring an additional 1,571,303 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Insider Buying and Selling

In other news, Director Peter A. Feld sold 1,900,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $101.20, for a total value of $192,280,000.00. Following the completion of the transaction, the director directly owned 5,611,526 shares of the company’s stock, valued at $567,886,431.20. This trade represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Grant Brown sold 5,179 shares of Qorvo stock in a transaction on Monday, August 17th. The shares were sold at an average price of $97.50, for a total value of $504,952.50. Following the completion of the transaction, the chief financial officer owned 49,268 shares of the company’s stock, valued at approximately $4,803,630. This trade represents a 9.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 1,968,623 shares of company stock worth $199,138,818. Insiders own 0.49% of the company’s stock.

Wall Street Analysts Forecast Growth

QRVO has been the subject of several analyst reports. Wall Street Zen upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. JPMorgan Chase & Co. boosted their price target on shares of Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Craig Hallum reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Qorvo in a research report on Wednesday, May 6th. TD Cowen reissued a “hold” rating on shares of Qorvo in a research report on Wednesday, July 29th. Finally, Citigroup cut their target price on Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Three research 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’s stock. Based on data from MarketBeat, Qorvo presently has an average rating of “Hold” and an average target price of $94.00.

Qorvo Stock Down 1.5%

QRVO opened at $94.73 on Friday. The company has a quick ratio of 2.68, a current ratio of 3.54 and a debt-to-equity ratio of 0.45. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 1.40 and a beta of 1.44. Qorvo, Inc. has a twelve month low of $74.92 and a twelve month high of $109.49. The company’s 50-day moving average price is $91.92 and its two-hundred day moving average price is $88.94.

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

About Qorvo

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.