Fieldview Capital Management LLC Boosts Stock Position in Qorvo, Inc. $QRVO

Fieldview Capital Management LLC grew its stake in Qorvo, Inc. (NASDAQ:QRVO) by 570.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,352 shares of the semiconductor company’s stock after purchasing an additional 20,718 shares during the period. Fieldview Capital Management LLC’s holdings in Qorvo were worth $2,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Fred Alger Management LLC grew its position in shares of Qorvo by 5.3% in the third quarter. Fred Alger Management LLC now owns 3,179 shares of the semiconductor company’s stock valued at $290,000 after purchasing an additional 160 shares in the last quarter. Beacon Investment Advisory Services Inc. grew its position in shares of Qorvo by 5.7% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 3,001 shares of the semiconductor company’s stock valued at $254,000 after purchasing an additional 161 shares in the last quarter. Larson Financial Group LLC grew its position in shares of Qorvo by 14.6% in the fourth quarter. Larson Financial Group LLC now owns 1,483 shares of the semiconductor company’s stock valued at $125,000 after purchasing an additional 189 shares in the last quarter. Lido Advisors LLC grew its position in shares of Qorvo by 4.1% in the fourth quarter. Lido Advisors LLC now owns 4,816 shares of the semiconductor company’s stock valued at $431,000 after purchasing an additional 191 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC grew its position in shares of Qorvo by 0.3% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 62,938 shares of the semiconductor company’s stock valued at $5,479,000 after purchasing an additional 194 shares in the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Qorvo Trading Up 1.0%

QRVO opened at $98.59 on Friday. Qorvo, Inc. has a one year low of $74.92 and a one year high of $109.49. The stock has a market capitalization of $8.68 billion, a PE ratio of 27.23, a P/E/G ratio of 1.54 and a beta of 1.43. The business’s 50 day moving average price is $91.50 and its 200 day moving average price is $85.76. 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 (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.69 EPS 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 for the quarter, compared to analysts’ expectations of $801.31 million. During the same period in the prior year, the firm posted $1.42 earnings per share. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, equities research analysts expect that Qorvo, Inc. will post 5.87 EPS for the current year.

Insiders Place Their Bets

In other Qorvo news, SVP Paul J. Fego sold 2,500 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 transaction of $250,000.00. Following the transaction, the senior vice president directly owned 71,038 shares in the company, valued at $7,103,800. This represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter A. Feld sold 1,900,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $101.20, for a total value of $192,280,000.00. Following the transaction, the director owned 5,611,526 shares in the company, valued at $567,886,431.20. This trade represents a 25.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,966,127 shares of company stock valued at $198,911,103. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on QRVO. Barclays upgraded Qorvo from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $95.00 to $100.00 in a research report on Wednesday, April 22nd. Wolfe Research lowered Qorvo from an “outperform” rating to a “peer perform” rating in a research report on Friday, April 17th. JPMorgan Chase & Co. upped their price objective on Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. UBS Group upped their price objective on Qorvo from $87.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Zacks Research cut Qorvo from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Three equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $96.63.

Qorvo Company 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.