25,880 Shares in Qorvo, Inc. $QRVO Purchased by Paradigm Capital Management Inc. NY

Paradigm Capital Management Inc. NY bought a new position in Qorvo, Inc. (NASDAQ:QRVO) in the second quarter, HoldingsChannel.com reports. The fund bought 25,880 shares of the semiconductor company’s stock, valued at approximately $2,414,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its stake in shares of Qorvo by 215.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 231 shares during the last quarter. Global Retirement Partners LLC acquired a new position in shares of Qorvo during the second quarter valued at $32,000. Advisory Services Network LLC bought a new position in shares of Qorvo in the 3rd quarter valued at about $36,000. Elevation Wealth Partners LLC boosted its stake in Qorvo by 301.0% in the second quarter. Elevation Wealth Partners LLC now owns 413 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 310 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in shares of Qorvo by 60.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 180 shares during the last quarter. 88.57% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Grant Brown sold 5,179 shares of the business’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 $504,952.50. Following the completion of the transaction, the chief financial officer owned 49,268 shares of the company’s stock, valued at $4,803,630. The trade was a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert A. Bruggeworth sold 57,957 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was 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 of the company’s stock, valued at approximately $32,115,952. This trade represents a 15.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,968,623 shares of company stock worth $199,138,818 over the last three months. Company insiders own 0.49% of the company’s stock.

Wall Street Analysts Forecast Growth

QRVO has been the subject of a number of 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. UBS Group upped their price objective on Qorvo from $91.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qorvo in a research report on Friday, July 24th. Citigroup decreased their price target on Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Finally, TD Cowen reissued a “hold” rating on shares of Qorvo in a research report on Wednesday, July 29th. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $94.00.

Qorvo Stock Performance

Shares of NASDAQ QRVO opened at $95.37 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.54 and a quick ratio of 2.68. The stock’s fifty day moving average price is $92.08 and its two-hundred day moving average price is $88.63. Qorvo, Inc. has a one year low of $74.92 and a one year high of $109.49. The firm has a market cap of $8.41 billion, a price-to-earnings ratio of 22.13, a P/E/G ratio of 1.39 and a beta of 1.44.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share for the quarter, topping 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 business had revenue of $784.79 million during the quarter, compared to analysts’ expectations of $743.28 million. During the same quarter in the previous year, the company earned $0.92 EPS. The business’s revenue was down 4.2% on a year-over-year basis. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, equities analysts forecast that Qorvo, Inc. will post 6.3 EPS for the current 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.