Quantbot Technologies LP Purchases New Holdings in Qorvo, Inc. $QRVO

Quantbot Technologies LP acquired a new position in Qorvo, Inc. (NASDAQ:QRVO) during the 2nd quarter, HoldingsChannel reports. The fund acquired 12,282 shares of the semiconductor company’s stock, valued at approximately $1,146,000.

Several other large investors also recently bought and sold shares of QRVO. Fred Alger Management LLC lifted its holdings in Qorvo by 5.3% in the 3rd 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. Fifth Third Wealth Advisors LLC boosted its stake in Qorvo by 4.4% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,955 shares of the semiconductor company’s stock worth $306,000 after purchasing an additional 167 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings in shares of Qorvo by 60.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company’s stock worth $41,000 after buying an additional 180 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Qorvo by 14.6% during the fourth quarter. Larson Financial Group LLC now owns 1,483 shares of the semiconductor company’s stock worth $125,000 after buying an additional 189 shares in the last quarter. Finally, Lido Advisors LLC raised 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 buying an additional 191 shares during the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Qorvo Stock Down 1.1%

NASDAQ QRVO opened at $94.34 on Wednesday. Qorvo, Inc. has a 52 week low of $74.92 and a 52 week high of $109.49. The company has a quick ratio of 2.68, a current ratio of 3.54 and a debt-to-equity ratio of 0.45. The business’s fifty day simple moving average is $92.03 and its 200-day simple moving average is $88.73. The firm has a market cap of $8.32 billion, a PE ratio of 21.89, a P/E/G ratio of 1.39 and a beta of 1.44.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. TD Cowen reissued a “hold” rating on shares of Qorvo in a research note on Wednesday, July 29th. JPMorgan Chase & Co. upped their price objective on shares of Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Qorvo in a report on Friday, July 24th. Citigroup decreased their target price on shares of Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Finally, UBS Group boosted their target price on Qorvo from $91.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $94.00.

Insider Activity

In other news, CFO Grant Brown sold 5,179 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $97.50, for a total transaction of $504,952.50. Following the completion of the sale, the chief financial officer owned 49,268 shares in the company, valued at $4,803,630. This trade represents a 9.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert A. Bruggeworth sold 57,957 shares of Qorvo stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $100.40, for a total transaction 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 position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,968,623 shares of company stock valued at $199,138,818. Company insiders own 0.49% of the company’s stock.

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.