Maytus Capital Management LLC Purchases 10,942 Shares of Qorvo, Inc. $QRVO

Maytus Capital Management LLC raised its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 17.1% in the fourth quarter, HoldingsChannel reports. The fund owned 75,000 shares of the semiconductor company’s stock after acquiring an additional 10,942 shares during the period. Qorvo accounts for approximately 1.5% of Maytus Capital Management LLC’s investment portfolio, making the stock its 26th largest holding. Maytus Capital Management LLC’s holdings in Qorvo were worth $6,338,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Jain Global LLC boosted its holdings in shares of Qorvo by 71.6% during the third quarter. Jain Global LLC now owns 277,219 shares of the semiconductor company’s stock worth $25,249,000 after acquiring an additional 115,640 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Qorvo by 58.7% during the third quarter. JPMorgan Chase & Co. now owns 313,156 shares of the semiconductor company’s stock worth $28,522,000 after acquiring an additional 115,890 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Qorvo by 2,687.9% during the fourth quarter. SG Americas Securities LLC now owns 234,464 shares of the semiconductor company’s stock worth $19,815,000 after acquiring an additional 226,054 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Qorvo by 83.6% during the third quarter. Envestnet Asset Management Inc. now owns 40,443 shares of the semiconductor company’s stock worth $3,684,000 after acquiring an additional 18,415 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of Qorvo during the third quarter worth approximately $3,977,000. Institutional investors own 88.57% of the company’s stock.

Insider Activity

In other Qorvo news, SVP Paul J. Fego sold 2,500 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president directly owned 71,038 shares in the company, valued at $7,103,800. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter A. Feld sold 1,900,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 5,611,526 shares of the company’s stock, valued at approximately $567,886,431.20. This represents a 25.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,966,127 shares of company stock valued at $198,911,103 in the last three months. Company insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

QRVO has been the subject of a number of research analyst reports. Craig Hallum restated a “buy” rating and set a $120.00 price objective on shares of Qorvo in a report on Wednesday, May 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Qorvo in a research report on Monday, April 27th. Mizuho reiterated an “underperform” rating and issued a $66.00 price target (down from $70.00) on shares of Qorvo in a research report on Monday, April 20th. Zacks Research downgraded shares of Qorvo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 16th. Finally, Wolfe Research downgraded shares of Qorvo from an “outperform” rating to a “peer perform” rating in a research report on Friday, April 17th. Three equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Qorvo has a consensus rating of “Hold” and an average target price of $96.63.

Qorvo Stock Down 4.7%

NASDAQ QRVO opened at $96.56 on Wednesday. The company has a current ratio of 3.24, a quick ratio of 2.46 and a debt-to-equity ratio of 0.46. Qorvo, Inc. has a 1-year low of $74.92 and a 1-year high of $109.49. The company has a 50 day moving average of $92.30 and a 200-day moving average of $85.98. The company has a market cap of $8.50 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 1.58 and a beta of 1.43.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results 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 net margin of 9.22% and a return on equity of 15.32%. The company had revenue of $808.28 million during the quarter, compared to the consensus estimate of $801.31 million. During the same period in the previous year, the business earned $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. On average, equities research analysts expect that Qorvo, Inc. will post 5.87 earnings per share for the current fiscal 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.