Greenland Capital Management LP Invests $534,000 in Qorvo, Inc. $QRVO

Greenland Capital Management LP acquired a new stake in Qorvo, Inc. (NASDAQ:QRVO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,726 shares of the semiconductor company’s stock, valued at approximately $534,000.

A number of other hedge funds have also made changes to their positions in QRVO. Smartleaf Asset Management LLC boosted its stake in Qorvo by 215.9% during the 4th 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 in the last quarter. Global Retirement Partners LLC bought a new stake in shares of Qorvo in the 2nd quarter worth $32,000. Advisory Services Network LLC acquired a new stake in shares of Qorvo in the third quarter valued at $36,000. Elevation Wealth Partners LLC boosted its stake 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 boosted its stake 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. Institutional investors and hedge funds own 88.57% of the company’s stock.

Insider Activity

In related news, CEO Robert A. Bruggeworth sold 57,957 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $100.40, for a total value of $5,818,882.80. Following the transaction, the chief executive officer directly owned 319,880 shares in the company, valued at approximately $32,115,952. This trade represents a 15.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Philip Chesley sold 5,487 shares of Qorvo stock in a transaction 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 completion of the transaction, the senior vice president owned 44,021 shares in the company, valued at $4,292,047.50. This trade represents a 11.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,968,623 shares of company stock valued at $199,138,818 in the last quarter. 0.49% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. TD Cowen reiterated a “hold” rating on shares of Qorvo in a research report on Wednesday, July 29th. Craig Hallum restated a “buy” rating and set a $120.00 price objective on shares of Qorvo in a research report on Wednesday, May 6th. Citigroup lowered their price objective on shares of Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Wall Street Zen raised Qorvo from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $94.00.

Qorvo Stock Down 0.8%

Shares of Qorvo stock opened at $95.56 on Friday. The stock has a market capitalization of $8.43 billion, a P/E ratio of 22.17, a PEG ratio of 1.39 and a beta of 1.44. The company has a quick ratio of 2.68, a current ratio of 3.54 and a debt-to-equity ratio of 0.45. The stock has a 50 day moving average price of $92.19 and a two-hundred day moving average price of $88.46. 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 results on Tuesday, July 28th. The semiconductor company reported $1.64 EPS 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 company had revenue of $784.79 million for the quarter, compared to the consensus estimate of $743.28 million. During the same quarter last year, the company posted $0.92 earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Equities analysts expect that Qorvo, Inc. will post 6.3 earnings per share for the current year.

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.