Kestra Investment Management LLC Purchases 36,776 Shares of Qorvo, Inc. $QRVO

Kestra Investment Management LLC lifted its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 144.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,243 shares of the semiconductor company’s stock after purchasing an additional 36,776 shares during the quarter. Kestra Investment Management LLC owned 0.07% of Qorvo worth $5,260,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Optimize Financial Inc bought a new stake in Qorvo in the 3rd quarter valued at $1,349,000. Jain Global LLC lifted its position in Qorvo by 71.6% in the 3rd quarter. Jain Global LLC now owns 277,219 shares of the semiconductor company’s stock valued at $25,249,000 after acquiring an additional 115,640 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Qorvo by 58.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 313,156 shares of the semiconductor company’s stock valued at $28,522,000 after acquiring an additional 115,890 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Qorvo by 83.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 40,443 shares of the semiconductor company’s stock valued at $3,684,000 after acquiring an additional 18,415 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in Qorvo by 2,687.9% in the 4th quarter. SG Americas Securities LLC now owns 234,464 shares of the semiconductor company’s stock valued at $19,815,000 after acquiring an additional 226,054 shares in the last quarter. 88.57% of the stock is owned by institutional investors.

Insider Buying and Selling at Qorvo

In other news, VP Gina Harrison sold 956 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $95.00, for a total transaction of $90,820.00. Following the transaction, the vice president directly owned 29,143 shares in the company, valued at $2,768,585. The trade was a 3.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.41% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on QRVO. Piper Sandler reaffirmed a “neutral” rating on shares of Qorvo in a research report on Wednesday, January 28th. Morgan Stanley set a $84.00 price objective on shares of Qorvo in a research report on Wednesday, January 28th. Stifel Nicolaus cut their price objective on shares of Qorvo from $88.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday, January 28th. Barclays raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $95.00 to $100.00 in a research report on Wednesday, April 22nd. Finally, Benchmark reaffirmed a “hold” rating on shares of Qorvo in a research report on Wednesday, January 28th. Three research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $96.63.

Qorvo Price Performance

Qorvo stock opened at $106.43 on Tuesday. The firm has a market capitalization of $9.37 billion, a PE ratio of 29.40, a P/E/G ratio of 1.66 and a beta of 1.42. The company’s 50-day moving average is $84.98 and its 200-day moving average is $84.11. Qorvo, Inc. has a fifty-two week low of $73.00 and a fifty-two week high of $106.46. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.24 and a quick ratio of 2.46.

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, topping the consensus estimate of $1.21 by $0.48. The company had revenue of $808.28 million for the quarter, compared to analyst estimates of $801.31 million. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. Qorvo’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Sell-side analysts anticipate that Qorvo, Inc. will post 5.87 earnings per share for the current year.

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.