Illinois Municipal Retirement Fund grew its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO – Free Report) by 13.8% during the first quarter, Holdings Channel.com reports. The firm owned 109,444 shares of the semiconductor company’s stock after buying an additional 13,313 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Qorvo were worth $8,471,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Jones Financial Companies Lllp grew its position in Qorvo by 440.1% in the 1st quarter. Jones Financial Companies Lllp now owns 8,134 shares of the semiconductor company’s stock valued at $589,000 after buying an additional 6,628 shares in the last quarter. EverSource Wealth Advisors LLC raised its position 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 worth $180,000 after buying an additional 1,301 shares in the last quarter. First Trust Advisors LP raised its position 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 worth $12,100,000 after buying an additional 51,475 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Qorvo in the 2nd quarter worth approximately $428,000. Finally, Cerity Partners LLC acquired a new stake in shares of Qorvo in the 2nd quarter worth approximately $327,000. 88.57% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Qorvo
In other news, SVP Paul J. Fego sold 2,500 shares of the stock in a transaction 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 owned 71,038 shares in the company, valued at approximately $7,103,800. This represents a 3.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert A. Bruggeworth sold 57,957 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $100.40, for a total value 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 represents a 15.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 1,966,127 shares of company stock worth $198,911,103. 0.49% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Check Out Our Latest Analysis on QRVO
Qorvo Stock Performance
NASDAQ:QRVO opened at $85.50 on Friday. The company has a 50-day moving average of $95.07 and a 200-day moving average of $86.50. The firm has a market cap of $7.54 billion, a price-to-earnings ratio of 23.62, a price-to-earnings-growth ratio of 1.31 and a beta of 1.44. 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 twelve month low of $74.92 and a twelve month high of $109.49.
Qorvo (NASDAQ:QRVO – Get Free Report) last released its earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 EPS for the quarter, topping 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 business had revenue of $808.28 million for the quarter, compared to the consensus estimate of $801.31 million. During the same period in the previous year, the firm earned $1.42 EPS. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Analysts forecast that Qorvo, Inc. will post 5.83 earnings per share for the current fiscal 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.
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