Quantbot Technologies LP Makes New $1.15 Million Investment in Qorvo, Inc. $QRVO

Quantbot Technologies LP acquired a new stake in Qorvo, Inc. (NASDAQ:QRVOFree Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 12,282 shares of the semiconductor company’s stock, valued at approximately $1,146,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its position in Qorvo by 440.1% during the first quarter. Jones Financial Companies Lllp now owns 8,134 shares of the semiconductor company’s stock valued at $589,000 after purchasing an additional 6,628 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Qorvo by 158.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company’s stock valued at $180,000 after buying an additional 1,301 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Qorvo by 56.5% during the 2nd quarter. First Trust Advisors LP now owns 142,503 shares of the semiconductor company’s stock valued at $12,100,000 after buying an additional 51,475 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Qorvo in the 2nd quarter valued at about $428,000. Finally, Cerity Partners LLC acquired a new position in shares of Qorvo in the 2nd quarter valued at about $327,000. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Price Performance

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 stock has a market capitalization 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 stock’s 50-day moving average price is $92.03 and its 200-day moving average price is $88.73.

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

Wall Street Analyst Weigh In

QRVO has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qorvo in a report on Friday, July 24th. JPMorgan Chase & Co. boosted their price target on Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Wall Street Zen upgraded Qorvo from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. TD Cowen reaffirmed a “hold” rating on shares of Qorvo in a research note on Wednesday, July 29th. Finally, UBS Group lifted their target price on shares of Qorvo from $91.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Three investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $94.00.

View Our Latest Stock Report on QRVO

Insiders Place Their Bets

In other news, CFO Grant Brown sold 5,179 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $97.50, for a total transaction of $504,952.50. Following the transaction, 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 SEC, which is available at the SEC website. Also, CEO Robert A. Bruggeworth sold 57,957 shares of Qorvo stock in a transaction 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 completion of the sale, the chief executive officer directly owned 319,880 shares in the company, valued at $32,115,952. This represents a 15.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,968,623 shares of company stock valued at $199,138,818 over the last ninety days. 0.49% of the stock is owned by corporate insiders.

Qorvo Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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