Paradigm Capital Management Inc. NY Makes New $2.41 Million Investment in Qorvo, Inc. $QRVO

Paradigm Capital Management Inc. NY purchased 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 (SEC). The institutional investor purchased 25,880 shares of the semiconductor company’s stock, valued at approximately $2,414,000.

A number of other large investors also recently bought and sold shares of the company. Algert Global LLC raised its position in shares of Qorvo by 42.8% during the 2nd quarter. Algert Global LLC now owns 136,140 shares of the semiconductor company’s stock valued at $12,698,000 after acquiring an additional 40,810 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Qorvo in the second quarter worth about $796,000. Athos Capital Ltd acquired a new stake in shares of Qorvo during the 2nd quarter worth approximately $11,192,000. Clear Harbor Asset Management LLC bought a new stake in shares of Qorvo in the 2nd quarter worth approximately $371,000. Finally, Bank of Nova Scotia bought a new stake in shares of Qorvo in the 2nd quarter worth approximately $22,064,000. Institutional investors own 88.57% of the company’s stock.

Qorvo Stock Down 0.2%

QRVO opened at $95.37 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.54 and a quick ratio of 2.68. The company has a market capitalization of $8.41 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 1.39 and a beta of 1.44. The business has a 50-day moving average of $92.08 and a 200-day moving average of $88.63. Qorvo, Inc. has a fifty-two week low of $74.92 and a fifty-two week high of $109.49.

Qorvo (NASDAQ:QRVOGet Free Report) last posted its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.11 by $0.53. The company had revenue of $784.79 million during 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 company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Equities research analysts forecast that Qorvo, Inc. will post 6.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on QRVO shares. Citigroup lowered their price objective on Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. JPMorgan Chase & Co. raised their price objective on shares of Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Wall Street Zen upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. UBS Group upped their price target on Qorvo from $91.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $120.00 price objective on shares of Qorvo in a research note on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $94.00.

View Our Latest Research Report on QRVO

Insider Buying and Selling

In other Qorvo news, Director Peter A. Feld sold 1,900,000 shares of the company’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 transaction of $192,280,000.00. Following the completion of the sale, the director owned 5,611,526 shares of the company’s stock, valued at $567,886,431.20. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Grant Brown sold 5,179 shares of the company’s stock in a transaction 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 sale, the chief financial officer directly owned 49,268 shares of the company’s stock, valued at approximately $4,803,630. This represents a 9.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,968,623 shares of company stock valued at $199,138,818 in the last quarter. Company insiders own 0.49% of the company’s stock.

About Qorvo

(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.

See Also

Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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