Qorvo, Inc. $QRVO Shares Purchased by Janus Henderson Group PLC

Janus Henderson Group PLC boosted its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 19.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 548,859 shares of the semiconductor company’s stock after acquiring an additional 88,070 shares during the quarter. Janus Henderson Group PLC’s holdings in Qorvo were worth $42,473,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Amundi grew its stake in shares of Qorvo by 197.2% in the 1st quarter. Amundi now owns 772,352 shares of the semiconductor company’s stock worth $59,780,000 after purchasing an additional 512,475 shares during the last quarter. California State Teachers Retirement System lifted its stake in Qorvo by 21.6% during the first quarter. California State Teachers Retirement System now owns 101,540 shares of the semiconductor company’s stock valued at $7,859,000 after purchasing an additional 18,029 shares during the last quarter. Quantinno Capital Management LP lifted its stake in Qorvo by 19.6% during the first quarter. Quantinno Capital Management LP now owns 762,902 shares of the semiconductor company’s stock valued at $59,049,000 after purchasing an additional 124,786 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in Qorvo by 287.3% during the first quarter. Lazard Asset Management LLC now owns 198,301 shares of the semiconductor company’s stock worth $15,348,000 after buying an additional 147,098 shares in the last quarter. Finally, Sona Asset Management US LLC bought a new stake in Qorvo during the first quarter worth approximately $6,970,000. 88.57% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on QRVO shares. Wall Street Zen upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a research report on Sunday. Wolfe Research lowered Qorvo from an “outperform” rating to a “peer perform” rating in a research note on Friday, April 17th. Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a report on Friday, July 24th. Zacks Research cut Qorvo from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. 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 report on Wednesday, July 29th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $94.00.

Qorvo Stock Performance

Shares of QRVO opened at $90.57 on Monday. The company has a 50-day moving average of $93.88 and a two-hundred day moving average of $86.84. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.41 and a beta of 1.44. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.54 and a quick ratio of 2.68. Qorvo, Inc. has a one year low of $74.92 and a one year high of $109.49.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.53. The business had revenue of $784.79 million for 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%. The firm’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, equities research analysts expect that Qorvo, Inc. will post 5.87 earnings per share for the current year.

Insider Activity

In other Qorvo news, Director Peter A. Feld sold 1,900,000 shares of Qorvo stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $101.20, for a total transaction of $192,280,000.00. Following the transaction, the director directly owned 5,611,526 shares in the company, valued at approximately $567,886,431.20. The trade was a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Paul J. Fego sold 2,500 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the sale, the senior vice president directly owned 71,038 shares in the company, valued at approximately $7,103,800. This trade represents a 3.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,966,127 shares of company stock valued at $198,911,103. 0.49% of the stock is currently owned by company insiders.

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.