Sanctuary Advisors LLC Buys New Position in Qorvo, Inc. $QRVO

Sanctuary Advisors LLC purchased a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,537 shares of the semiconductor company’s stock, valued at approximately $796,000.

A number of other institutional investors and hedge funds have also bought and sold shares of QRVO. Smartleaf Asset Management LLC raised its holdings in shares of Qorvo by 215.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 231 shares during the last quarter. Global Retirement Partners LLC bought a new stake in Qorvo in the 2nd quarter worth about $32,000. Advisory Services Network LLC bought a new stake in Qorvo in the 3rd quarter worth about $36,000. Elevation Wealth Partners LLC increased its stake in Qorvo by 301.0% in the 2nd 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 during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its stake in Qorvo by 60.0% in the 4th 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 during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on QRVO shares. Wall Street Zen raised shares of Qorvo from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. Citigroup dropped their price target on Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a research note on Friday, July 24th. TD Cowen reaffirmed a “hold” rating on shares of Qorvo in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. boosted 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. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Qorvo has an average rating of “Hold” and an average price target of $94.00.

Qorvo Trading Down 1.5%

NASDAQ:QRVO opened at $94.73 on Friday. The company has a current ratio of 3.54, a quick ratio of 2.68 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $8.36 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 1.40 and a beta of 1.44. The firm’s 50 day moving average is $91.92 and its 200 day moving average is $88.94. Qorvo, Inc. has a 12 month low of $74.92 and a 12 month high of $109.49.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.53. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The business had revenue of $784.79 million during the quarter, compared to analyst estimates of $743.28 million. During the same period in the prior year, the company earned $0.92 earnings per share. Qorvo’s revenue 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 earnings per share for the current year.

Insider Transactions at Qorvo

In related news, CFO Grant Brown sold 5,179 shares of Qorvo stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $97.50, for a total value of $504,952.50. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter A. Feld sold 1,900,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $101.20, for a total value of $192,280,000.00. Following the completion of the sale, the director owned 5,611,526 shares in the company, valued at $567,886,431.20. This represents a 25.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,968,623 shares of company stock worth $199,138,818 over the last quarter. 0.49% of the stock is currently owned by corporate insiders.

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.