Two Sigma Securities LLC Makes New $640,000 Investment in Qorvo, Inc. $QRVO

Two Sigma Securities LLC purchased a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,863 shares of the semiconductor company’s stock, valued at approximately $640,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bank of America Corp DE increased its stake in Qorvo by 801.4% during the 1st quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company’s stock worth $136,795,000 after buying an additional 1,571,303 shares during the period. LSV Asset Management boosted its position in Qorvo by 2.3% in the 4th quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock valued at $131,452,000 after buying an additional 34,605 shares during the period. Amundi boosted its position in Qorvo by 197.2% in the 1st quarter. Amundi now owns 772,352 shares of the semiconductor company’s stock valued at $59,780,000 after buying an additional 512,475 shares during the period. Credit Industriel ET Commercial purchased a new position in Qorvo in the 4th quarter valued at approximately $5,223,000. Finally, Fieldview Capital Management LLC grew its stake in shares of Qorvo by 570.1% in the fourth quarter. Fieldview Capital Management LLC now owns 24,352 shares of the semiconductor company’s stock worth $2,058,000 after acquiring an additional 20,718 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wall Street Zen raised Qorvo from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. UBS Group boosted their target price on Qorvo from $91.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. TD Cowen restated a “hold” rating on shares of Qorvo in a report on Wednesday, July 29th. Craig Hallum reaffirmed a “buy” rating and issued a $120.00 price target on shares of Qorvo in a research report on Wednesday, May 6th. Finally, Citigroup decreased their price objective on Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Three investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $94.00.

Insider Transactions at Qorvo

In other news, CFO Grant Brown sold 5,179 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $97.50, for a total value of $504,952.50. Following the transaction, the chief financial officer owned 49,268 shares in the company, valued at approximately $4,803,630. This represents a 9.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Philip Chesley sold 5,487 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $97.50, for a total value of $534,982.50. Following the sale, the senior vice president directly owned 44,021 shares in the company, valued at $4,292,047.50. This trade represents a 11.08% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.49% of the stock is owned by insiders.

Qorvo Price Performance

Shares of QRVO opened at $96.40 on Wednesday. The firm has a market capitalization of $8.50 billion, a price-to-earnings ratio of 22.37 and a beta of 1.44. The firm’s fifty day simple moving average is $91.74 and its 200-day simple moving average is $89.14. Qorvo, Inc. has a twelve month low of $74.92 and a twelve month high of $109.49. The company has a current ratio of 3.54, a quick ratio of 2.68 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.53. The firm had revenue of $784.79 million during the quarter, compared to the consensus estimate of $743.28 million. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. The company’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Equities analysts forecast that Qorvo, Inc. will post 6.3 EPS for the current fiscal 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.