Fieldview Capital Management LLC Increases Stock Holdings in Qorvo, Inc. $QRVO

Fieldview Capital Management LLC increased its holdings in shares of Qorvo, Inc. (NASDAQ:QRVOFree Report) by 570.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,352 shares of the semiconductor company’s stock after buying an additional 20,718 shares during the quarter. Fieldview Capital Management LLC’s holdings in Qorvo were worth $2,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Stance Capital LLC acquired a new stake in Qorvo during the 3rd quarter worth about $27,000. Smartleaf Asset Management LLC lifted its position in Qorvo by 215.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 231 shares during the period. Sound Income Strategies LLC lifted its position in Qorvo by 952.8% during the 4th quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 343 shares during the period. Advisory Services Network LLC acquired a new stake in Qorvo during the 3rd quarter worth about $36,000. Finally, Clearstead Advisors LLC lifted its position in Qorvo by 93.3% during the 3rd quarter. Clearstead Advisors LLC now owns 431 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 208 shares during the period. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Qorvo

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 stock was sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the sale, the senior vice president directly owned 71,038 shares in the company, valued at approximately $7,103,800. The trade was a 3.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 stock was sold at an average price of $101.20, for a total value of $192,280,000.00. Following the sale, the director owned 5,611,526 shares of the company’s stock, valued at approximately $567,886,431.20. This trade represents a 25.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,966,127 shares of company stock valued at $198,911,103 in the last 90 days. Corporate insiders own 0.41% of the company’s stock.

Qorvo Price Performance

NASDAQ:QRVO opened at $98.59 on Friday. Qorvo, Inc. has a 12 month low of $74.92 and a 12 month high of $109.49. The stock has a 50 day moving average of $91.50 and a two-hundred day moving average of $85.76. The company has a current ratio of 3.24, a quick ratio of 2.46 and a debt-to-equity ratio of 0.46. The firm has a market cap of $8.68 billion, a P/E ratio of 27.23, a price-to-earnings-growth ratio of 1.54 and a beta of 1.43.

Qorvo (NASDAQ:QRVOGet Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.21 by $0.48. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.The company had revenue of $808.28 million during the quarter, compared to analyst estimates of $801.31 million. During the same period in the previous year, the business earned $1.42 EPS. Qorvo’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, analysts expect that Qorvo, Inc. will post 5.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on QRVO. Wolfe Research cut Qorvo from an “outperform” rating to a “peer perform” rating in a research report on Friday, April 17th. Citigroup lifted their price target on Qorvo from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Mizuho reaffirmed an “underperform” rating and set a $66.00 price target (down from $70.00) on shares of Qorvo in a research report on Monday, April 20th. UBS Group lifted their price target on Qorvo from $87.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qorvo in a research report on Monday, April 27th. Three research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $96.63.

View Our Latest Analysis on Qorvo

Qorvo Company 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.

Further Reading

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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