Jupiter Topco LLC Makes New $52.98 Million Investment in Qorvo, Inc. $QRVO

Jupiter Topco LLC acquired a new stake in Qorvo, Inc. (NASDAQ:QRVO) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 568,187 shares of the semiconductor company’s stock, valued at approximately $52,975,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Smartleaf Asset Management LLC raised its position 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 buying an additional 231 shares in the last quarter. Global Retirement Partners LLC bought a new stake in shares of Qorvo in the second quarter valued at approximately $32,000. Advisory Services Network LLC acquired a new stake in Qorvo during the third quarter worth approximately $36,000. Elevation Wealth Partners LLC grew its position in Qorvo by 301.0% during the second quarter. Elevation Wealth Partners LLC now owns 413 shares of the semiconductor company’s stock worth $39,000 after buying an additional 310 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its stake in Qorvo by 60.0% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 180 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Philip Chesley sold 5,487 shares of the company’s 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 sale, the senior vice president directly owned 44,021 shares in the company, valued at $4,292,047.50. This represents a 11.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert A. Bruggeworth sold 57,957 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 319,880 shares in the company, valued at $32,115,952. This trade represents a 15.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,968,623 shares of company stock valued at $199,138,818 in the last quarter. Corporate insiders own 0.49% of the company’s stock.

Qorvo Stock Up 1.1%

Shares of QRVO opened at $96.18 on Friday. The firm has a 50 day simple moving average of $92.00 and a two-hundred day simple moving average of $88.90. 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. The company has a market cap of $8.48 billion, a P/E ratio of 22.32, a P/E/G ratio of 1.38 and a beta of 1.44.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.53. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The firm 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 business posted $0.92 EPS. The company’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. Research analysts forecast that Qorvo, Inc. will post 6.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on QRVO. UBS Group lifted their price objective on Qorvo from $91.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Citigroup decreased their price target on Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. JPMorgan Chase & Co. boosted their price target on Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Craig Hallum reaffirmed a “buy” rating and issued a $120.00 price target on shares of Qorvo in a research note on Wednesday, May 6th. Finally, Wall Street Zen raised shares of Qorvo from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. Three equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Qorvo currently has an average rating of “Hold” and a consensus price target of $94.00.

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.