EP Wealth Advisors LLC Invests $848,000 in Qorvo, Inc. $QRVO

EP Wealth Advisors LLC purchased a new stake in Qorvo, Inc. (NASDAQ:QRVO) in the second quarter, Holdings Channel reports. The institutional investor purchased 9,087 shares of the semiconductor company’s stock, valued at approximately $848,000.

Other hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its position in 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 acquiring an additional 231 shares during the last quarter. Global Retirement Partners LLC acquired a new position in Qorvo in the 2nd quarter worth about $32,000. Advisory Services Network LLC bought a new position in Qorvo in the third quarter valued at about $36,000. Elevation Wealth Partners LLC raised its position in Qorvo by 301.0% in the second quarter. Elevation Wealth Partners LLC now owns 413 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 310 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in shares of 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 purchasing an additional 180 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Insider Buying and Selling

In other Qorvo news, CEO Robert A. Bruggeworth sold 57,957 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $100.40, for a total transaction of $5,818,882.80. Following the completion of the sale, the chief executive officer owned 319,880 shares of the company’s stock, valued at approximately $32,115,952. This represents a 15.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Philip Chesley sold 5,487 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $97.50, for a total transaction of $534,982.50. Following the transaction, the senior vice president owned 44,021 shares of the company’s stock, valued at approximately $4,292,047.50. The trade was a 11.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,968,623 shares of company stock valued at $199,138,818 in the last ninety days. Insiders own 0.49% of the company’s stock.

Qorvo Price Performance

Shares of NASDAQ:QRVO opened at $95.56 on Monday. The firm has a market cap of $8.43 billion, a P/E ratio of 22.17, a P/E/G ratio of 1.39 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 fifty day simple moving average of $92.19 and a 200 day simple moving average of $88.52. The company has a quick ratio of 2.68, a current ratio of 3.54 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO) last released its quarterly 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. The firm had revenue of $784.79 million for the quarter, compared to analyst estimates of $743.28 million. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The business’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.92 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Analysts predict that Qorvo, Inc. will post 6.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on QRVO. Wall Street Zen upgraded Qorvo from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. JPMorgan Chase & Co. raised their price objective on shares of Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Citigroup cut their target price 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. TD Cowen reissued a “hold” rating on shares of Qorvo in a report on Wednesday, July 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Qorvo in a report on Friday, July 24th. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $94.00.

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.