9,265 Shares in Qorvo, Inc. $QRVO Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. bought a new stake in Qorvo, Inc. (NASDAQ:QRVO) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,265 shares of the semiconductor company’s stock, valued at approximately $717,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Jones Financial Companies Lllp increased its holdings in shares of Qorvo by 440.1% in the 1st quarter. Jones Financial Companies Lllp now owns 8,134 shares of the semiconductor company’s stock worth $589,000 after buying an additional 6,628 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Qorvo by 158.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company’s stock worth $180,000 after acquiring an additional 1,301 shares during the last quarter. First Trust Advisors LP grew its position in Qorvo by 56.5% in the second quarter. First Trust Advisors LP now owns 142,503 shares of the semiconductor company’s stock worth $12,100,000 after acquiring an additional 51,475 shares in the last quarter. Marshall Wace LLP purchased a new position in Qorvo in the second quarter worth $428,000. Finally, Cerity Partners LLC bought a new position in Qorvo in the second quarter valued at $327,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Price Performance

Shares of Qorvo stock opened at $85.45 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.24 and a quick ratio of 2.46. The business’s 50 day simple moving average is $95.87 and its two-hundred day simple moving average is $86.56. The stock has a market capitalization of $7.54 billion, a P/E ratio of 23.61, a price-to-earnings-growth ratio of 1.31 and a beta of 1.44. Qorvo, Inc. has a one year low of $74.92 and a one year high of $109.49.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.48. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.The firm had revenue of $808.28 million during the quarter, compared to analyst estimates of $801.31 million. During the same quarter in the prior year, the firm posted $1.42 earnings per share. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Analysts forecast that Qorvo, Inc. will post 5.84 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price target on Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Mizuho reissued an “underperform” rating and set a $66.00 price objective (down from $70.00) on shares of Qorvo in a report on Monday, April 20th. Zacks Research downgraded Qorvo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 16th. Citigroup upped their target price on Qorvo from $90.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of Qorvo to a “hold” rating in a research report on Saturday, July 4th. Three investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Qorvo presently has a consensus rating of “Hold” and an average target price of $97.07.

Insider Activity

In other Qorvo news, SVP Paul J. Fego sold 2,500 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the sale, the senior vice president owned 71,038 shares of the company’s stock, valued at $7,103,800. This represents a 3.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Peter A. Feld sold 1,900,000 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $101.20, for a total transaction of $192,280,000.00. Following the sale, the director directly owned 5,611,526 shares of the company’s stock, valued at $567,886,431.20. The trade was a 25.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,966,127 shares of company stock valued at $198,911,103. 0.49% of the stock is 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.