Kintayl Capital LP Makes New $5.25 Million Investment in Qorvo, Inc. $QRVO

Kintayl Capital LP acquired a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) during the 2nd quarter, HoldingsChannel reports. The firm acquired 56,251 shares of the semiconductor company’s stock, valued at approximately $5,247,000. Qorvo comprises 2.1% of Kintayl Capital LP’s holdings, making the stock its 16th largest position.

Other large investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings in shares of Qorvo by 801.4% in the 1st quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company’s stock worth $136,795,000 after acquiring an additional 1,571,303 shares during the period. LSV Asset Management increased its stake in shares of Qorvo by 2.3% in the fourth quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock valued at $131,452,000 after purchasing an additional 34,605 shares during the period. Credit Industriel ET Commercial bought a new stake in shares of Qorvo during the fourth quarter valued at approximately $5,223,000. Fieldview Capital Management LLC boosted its position in shares of Qorvo by 570.1% during the fourth quarter. Fieldview Capital Management LLC now owns 24,352 shares of the semiconductor company’s stock worth $2,058,000 after buying an additional 20,718 shares during the period. Finally, Amundi grew its holdings in Qorvo by 197.2% in the 1st quarter. Amundi now owns 772,352 shares of the semiconductor company’s stock worth $59,780,000 after buying an additional 512,475 shares in the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on QRVO shares. Wall Street Zen raised shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. TD Cowen reiterated a “hold” rating on shares of Qorvo in a research report on Wednesday, July 29th. Craig Hallum reissued a “buy” rating and issued a $120.00 price target on shares of Qorvo in a report on Wednesday, May 6th. JPMorgan Chase & Co. lifted their price objective on shares of Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Finally, Citigroup cut their target price on shares of Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $94.00.

Insider Buying and Selling

In related news, CFO Grant Brown sold 5,179 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $97.50, for a total value of $504,952.50. Following the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert A. Bruggeworth sold 57,957 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $100.40, for a total value of $5,818,882.80. Following the completion of the sale, the chief executive officer owned 319,880 shares in the company, valued at $32,115,952. This trade represents a 15.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,968,623 shares of company stock worth $199,138,818 over the last 90 days. Corporate insiders own 0.49% of the company’s stock.

Qorvo Stock Performance

QRVO opened at $94.34 on Wednesday. The company has a market cap of $8.32 billion, a PE ratio of 21.89, a price-to-earnings-growth ratio of 1.39 and a beta of 1.44. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.68 and a current ratio of 3.54. Qorvo, Inc. has a 52-week low of $74.92 and a 52-week high of $109.49. The stock has a 50-day moving average of $92.03 and a 200-day moving average of $88.73.

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