Sei Investments Co. Purchases 10,771 Shares of Qorvo, Inc. $QRVO

Sei Investments Co. raised its position in Qorvo, Inc. (NASDAQ:QRVOFree Report) by 13.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 93,188 shares of the semiconductor company’s stock after purchasing an additional 10,771 shares during the period. Sei Investments Co.’s holdings in Qorvo were worth $7,212,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. AQR Arbitrage LLC bought a new position in shares of Qorvo during the fourth quarter worth $118,204,000. Norges Bank bought a new stake in shares of Qorvo in the 4th quarter valued at $92,430,000. Marshall Wace LLP raised its stake in Qorvo by 16,066.5% during the 3rd quarter. Marshall Wace LLP now owns 814,630 shares of the semiconductor company’s stock worth $74,197,000 after buying an additional 809,591 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Qorvo during the 3rd quarter worth $66,594,000. Finally, Magnetar Financial LLC lifted its holdings in Qorvo by 12,037.4% during the fourth quarter. Magnetar Financial LLC now owns 542,786 shares of the semiconductor company’s stock worth $45,871,000 after acquiring an additional 538,314 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Qorvo

In related news, CEO Robert A. Bruggeworth sold 57,957 shares of Qorvo stock in a transaction that occurred 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 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $101.20, for a total value of $192,280,000.00. Following the completion of the sale, the director owned 5,611,526 shares in the company, valued at $567,886,431.20. The trade was a 25.29% decrease in their position. 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 ninety days. Corporate insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

QRVO has been the subject of a number of research analyst reports. Zacks Research cut Qorvo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Wall Street Zen upgraded Qorvo from a “hold” rating to a “buy” rating in a report on Sunday. Craig Hallum reiterated a “buy” rating and issued a $120.00 price objective on shares of Qorvo in a research report on Wednesday, May 6th. Barclays raised Qorvo from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $95.00 to $100.00 in a research note on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. 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. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $94.00.

Check Out Our Latest Analysis on Qorvo

Qorvo Price Performance

QRVO stock opened at $90.57 on Monday. The stock has a 50-day moving average price of $93.88 and a two-hundred day moving average price of $86.84. The stock has a market cap of $7.99 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 1.41 and a beta of 1.44. The company has a current ratio of 3.54, a quick ratio of 2.68 and a debt-to-equity ratio of 0.45. Qorvo, Inc. has a 1 year low of $74.92 and a 1 year high of $109.49.

Qorvo (NASDAQ:QRVOGet Free Report) last released its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.53. The firm had revenue of $784.79 million for the quarter, compared to the consensus estimate of $743.28 million. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the business posted $0.92 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Equities analysts forecast that Qorvo, Inc. will post 5.87 EPS for the current fiscal year.

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.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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