Governors Lane LP Buys Shares of 155,180 Qorvo, Inc. $QRVO

Governors Lane LP bought a new stake in Qorvo, Inc. (NASDAQ:QRVO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 155,180 shares of the semiconductor company’s stock, valued at approximately $13,114,000. Qorvo comprises 0.8% of Governors Lane LP’s investment portfolio, making the stock its 21st biggest position.

Several other institutional investors and hedge funds also recently bought and sold shares of QRVO. Stance Capital LLC acquired a new position in Qorvo in the 3rd quarter valued at about $27,000. Smartleaf Asset Management LLC boosted its holdings in Qorvo by 215.9% in 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 during the last quarter. Sound Income Strategies LLC boosted its holdings in Qorvo by 952.8% in the 4th quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 343 shares during the last quarter. Advisory Services Network LLC acquired a new position in Qorvo in the 3rd quarter valued at about $36,000. Finally, Clearstead Advisors LLC boosted its holdings in Qorvo by 93.3% in the 3rd quarter. Clearstead Advisors LLC now owns 431 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 208 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Qorvo

In other news, CEO Robert A. Bruggeworth sold 57,957 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $100.40, for a total transaction of $5,818,882.80. Following the sale, the chief executive officer owned 319,880 shares of the company’s stock, valued at approximately $32,115,952. This represents a 15.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gina Harrison sold 4,714 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $100.00, for a total value of $471,400.00. Following the sale, the vice president directly owned 24,429 shares in the company, valued at $2,442,900. This represents a 16.18% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,966,127 shares of company stock worth $198,911,103. 0.41% of the stock is currently owned by insiders.

Qorvo Stock Performance

Shares of QRVO stock opened at $94.65 on Thursday. The firm’s 50 day moving average price is $92.61 and its 200-day moving average price is $86.04. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.46 and a current ratio of 3.24. Qorvo, Inc. has a one year low of $74.92 and a one year high of $109.49. The firm has a market cap of $8.33 billion, a P/E ratio of 26.15, a P/E/G ratio of 1.51 and a beta of 1.43.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.21 by $0.48. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The firm had revenue of $808.28 million for the quarter, compared to analyst estimates of $801.31 million. During the same period in the prior year, the business posted $1.42 EPS. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, equities research analysts predict that Qorvo, Inc. will post 5.87 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on QRVO. Craig Hallum reiterated a “buy” rating and issued a $120.00 target price on shares of Qorvo in a report on Wednesday, May 6th. Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a report on Monday, April 27th. UBS Group upped their price objective on shares of Qorvo from $87.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Citigroup upped their price objective on shares of Qorvo from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Zacks Research lowered shares of Qorvo from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Three investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $96.63.

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.