Qorvo, Inc. $QRVO Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC trimmed its position in Qorvo, Inc. (NASDAQ:QRVO) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,528,101 shares of the semiconductor company’s stock after selling 5,426 shares during the quarter. Geode Capital Management LLC’s holdings in Qorvo were worth $129,167,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of QRVO. Stance Capital LLC purchased a new stake in Qorvo during the 3rd quarter worth about $27,000. Sound Income Strategies LLC lifted its holdings in Qorvo by 952.8% during the 4th quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock worth $30,000 after buying an additional 343 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Qorvo during the 3rd quarter worth about $36,000. Clearstead Advisors LLC lifted its holdings in Qorvo by 93.3% during the 3rd quarter. Clearstead Advisors LLC now owns 431 shares of the semiconductor company’s stock worth $39,000 after buying an additional 208 shares during the last quarter. Finally, V Square Quantitative Management LLC purchased a new stake in Qorvo during the 4th quarter worth about $39,000. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on QRVO. Weiss Ratings reiterated a “hold (c)” rating on shares of Qorvo in a research report on Monday, April 27th. UBS Group boosted their price target on Qorvo from $87.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Zacks Research cut Qorvo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 16th. Barclays upgraded Qorvo from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $95.00 to $100.00 in a research report on Wednesday, April 22nd. Finally, Wolfe Research cut Qorvo from an “outperform” rating to a “peer perform” rating in a research report on Friday, April 17th. Three analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Qorvo currently has a consensus rating of “Hold” and an average target price of $96.63.

Qorvo Stock Down 0.7%

Shares of NASDAQ QRVO opened at $103.97 on Friday. The company has a quick ratio of 2.46, a current ratio of 3.24 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $9.15 billion, a PE ratio of 28.72, a P/E/G ratio of 1.63 and a beta of 1.43. The firm has a fifty day moving average of $89.13 and a 200-day moving average of $85.08. Qorvo, Inc. has a 52-week low of $74.92 and a 52-week high of $109.49.

Qorvo (NASDAQ:QRVO) last issued its 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 business had revenue of $808.28 million for the quarter, compared to analyst estimates of $801.31 million. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.The business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the company posted $1.42 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, analysts anticipate that Qorvo, Inc. will post 5.87 EPS for the current year.

Insider Transactions at Qorvo

In other news, SVP Paul J. Fego sold 2,500 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the transaction, the senior vice president directly owned 71,038 shares in the company, valued at approximately $7,103,800. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert A. Bruggeworth sold 57,957 shares of Qorvo stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $100.40, for a total value of $5,818,882.80. Following the sale, the chief executive officer directly owned 319,880 shares in the company, valued at approximately $32,115,952. The trade was a 15.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 1,966,127 shares of company stock valued at $198,911,103. Corporate insiders own 0.41% of the company’s stock.

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.