Handelsbanken Fonder AB Acquires 99,003 Shares of Qorvo, Inc. $QRVO

Handelsbanken Fonder AB raised its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 59.1% in the fourth quarter, Holdings Channel reports. The firm owned 266,586 shares of the semiconductor company’s stock after purchasing an additional 99,003 shares during the period. Handelsbanken Fonder AB’s holdings in Qorvo were worth $22,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of QRVO. Jones Financial Companies Lllp grew its stake in Qorvo by 440.1% in the 1st quarter. Jones Financial Companies Lllp now owns 8,134 shares of the semiconductor company’s stock valued at $589,000 after purchasing an additional 6,628 shares during the period. EverSource Wealth Advisors LLC grew its stake in Qorvo by 158.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company’s stock valued at $180,000 after purchasing an additional 1,301 shares during the period. First Trust Advisors LP grew its stake in Qorvo by 56.5% in the 2nd quarter. First Trust Advisors LP now owns 142,503 shares of the semiconductor company’s stock valued at $12,100,000 after purchasing an additional 51,475 shares during the period. Marshall Wace LLP bought a new position in Qorvo in the 2nd quarter valued at $428,000. Finally, Cerity Partners LLC bought a new position in Qorvo in the 2nd quarter valued at $327,000. Institutional investors own 88.57% of the company’s stock.

Insider Buying and Selling

In other Qorvo news, VP Gina Harrison sold 956 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $95.00, for a total value of $90,820.00. Following the completion of the transaction, the vice president owned 29,143 shares in the company, valued at $2,768,585. This trade represents a 3.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

Qorvo Stock Up 4.5%

QRVO stock opened at $98.78 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.46 and a current ratio of 3.24. The company has a market capitalization of $8.69 billion, a price-to-earnings ratio of 27.29, a PEG ratio of 1.48 and a beta of 1.42. Qorvo, Inc. has a fifty-two week low of $73.00 and a fifty-two week high of $106.30. The stock has a fifty day moving average of $83.48 and a 200-day moving average of $83.87.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.48. The company had revenue of $808.28 million during the quarter, compared to the consensus estimate of $801.31 million. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.42 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, equities research analysts predict that Qorvo, Inc. will post 5.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

QRVO has been the subject of a number of recent analyst reports. Barclays upgraded Qorvo from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $95.00 to $100.00 in a research note on Wednesday, April 22nd. Craig Hallum restated a “buy” rating and issued a $120.00 price objective on shares of Qorvo in a research note on Wednesday, May 6th. Wolfe Research downgraded Qorvo from an “outperform” rating to a “peer perform” rating in a research note on Friday, April 17th. Piper Sandler reiterated a “neutral” rating on shares of Qorvo in a research note on Wednesday, January 28th. Finally, Morgan Stanley set a $84.00 price target on Qorvo in a research note on Wednesday, January 28th. Three analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $96.63.

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.