Two Sigma Securities LLC Takes Position in Qorvo, Inc. $QRVO

Two Sigma Securities LLC purchased a new stake in Qorvo, Inc. (NASDAQ:QRVO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,863 shares of the semiconductor company’s stock, valued at approximately $640,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings in shares of 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 period. LSV Asset Management boosted its position in shares of Qorvo by 2.3% during the 4th quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock valued at $131,452,000 after acquiring an additional 34,605 shares during the last quarter. Amundi grew its holdings in shares of Qorvo by 197.2% in the first quarter. Amundi now owns 772,352 shares of the semiconductor company’s stock valued at $59,780,000 after purchasing an additional 512,475 shares during the period. Credit Industriel ET Commercial purchased a new stake in shares of Qorvo in the fourth quarter valued at about $5,223,000. Finally, Fieldview Capital Management LLC increased its position in Qorvo by 570.1% during the fourth quarter. Fieldview Capital Management LLC now owns 24,352 shares of the semiconductor company’s stock worth $2,058,000 after purchasing an additional 20,718 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Stock Up 0.3%

Shares of NASDAQ:QRVO opened at $96.40 on Wednesday. The company has a market capitalization of $8.50 billion, a price-to-earnings ratio of 22.37 and a beta of 1.44. Qorvo, Inc. has a 12-month low of $74.92 and a 12-month high of $109.49. The business has a 50-day moving average price of $91.74 and a 200 day moving average price of $89.14. The company has a current ratio of 3.54, a quick ratio of 2.68 and a debt-to-equity ratio of 0.45.

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

Analysts Set New Price Targets

A number of brokerages have commented on QRVO. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qorvo in a research note on Friday, July 24th. UBS Group increased their price target 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. JPMorgan Chase & Co. raised 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. Citigroup reduced their price target on shares of Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. Finally, Craig Hallum reiterated a “buy” rating and issued a $120.00 price objective on shares of Qorvo in a report on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Qorvo has an average rating of “Hold” and a consensus target price of $94.00.

Insider Activity at Qorvo

In related news, CFO Grant Brown sold 5,179 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $97.50, for a total transaction 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Philip Chesley sold 5,487 shares of Qorvo stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $97.50, for a total transaction of $534,982.50. Following the completion of the sale, the senior vice president owned 44,021 shares of the company’s stock, valued at $4,292,047.50. This trade represents a 11.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.49% of the company’s stock.

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.