Qorvo, Inc. $QRVO Shares Sold by Headlands Technologies LLC

Headlands Technologies LLC trimmed its position in Qorvo, Inc. (NASDAQ:QRVO) by 54.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,891 shares of the semiconductor company’s stock after selling 6,924 shares during the quarter. Headlands Technologies LLC’s holdings in Qorvo were worth $549,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of QRVO. Smartleaf Asset Management LLC grew its holdings in shares of Qorvo by 215.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 231 shares during the period. Global Retirement Partners LLC purchased a new position in Qorvo in the second quarter valued at approximately $32,000. Advisory Services Network LLC purchased a new position in Qorvo in the third quarter valued at approximately $36,000. Elevation Wealth Partners LLC lifted its position in Qorvo by 301.0% during the second quarter. Elevation Wealth Partners LLC now owns 413 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 310 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position 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. 88.57% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Philip Chesley sold 5,487 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 transaction of $534,982.50. Following the sale, the senior vice president owned 44,021 shares of the company’s stock, valued at $4,292,047.50. The trade was a 11.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Grant Brown sold 5,179 shares of the business’s stock in a transaction on Monday, August 17th. The stock was 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 in the company, valued at $4,803,630. This represents a 9.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 18,945 shares of company stock worth $1,824,122. 0.49% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Qorvo from $91.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. TD Cowen restated a “hold” rating on shares of Qorvo in a report on Wednesday, July 29th. Wall Street Zen upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. Craig Hallum reaffirmed a “buy” rating and set a $120.00 price target on shares of Qorvo in a research report on Wednesday, May 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Qorvo in a report on Friday, July 24th. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $94.00.

Qorvo Stock Performance

Qorvo stock opened at $100.63 on Thursday. The firm has a market capitalization of $8.88 billion, a PE ratio of 23.35, a price-to-earnings-growth ratio of 1.70 and a beta of 1.45. Qorvo, Inc. has a one year low of $74.92 and a one year high of $109.49. The stock’s 50 day moving average price is $91.81 and its 200 day moving average price is $89.27. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.68 and a current ratio of 3.54.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.53. The company had revenue of $784.79 million during 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%. Qorvo’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the company earned $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, sell-side analysts expect that Qorvo, Inc. will post 6.3 EPS for the current fiscal year.

Qorvo 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.