Qorvo, Inc. $QRVO Holdings Boosted by Verition Fund Management LLC

Verition Fund Management LLC boosted its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 98.9% during the 4th quarter, HoldingsChannel reports. The firm owned 204,657 shares of the semiconductor company’s stock after buying an additional 101,779 shares during the quarter. Verition Fund Management LLC’s holdings in Qorvo were worth $17,296,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stance Capital LLC purchased a new position in Qorvo during the 3rd quarter worth approximately $27,000. Smartleaf Asset Management LLC grew 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 purchasing an additional 231 shares in the last quarter. Sound Income Strategies LLC grew 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 purchasing an additional 343 shares in the last quarter. Advisory Services Network LLC purchased a new position in Qorvo during the 3rd quarter worth approximately $36,000. Finally, Clearstead Advisors LLC grew 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 purchasing an additional 208 shares in the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

QRVO has been the topic of several research analyst reports. Craig Hallum reiterated a “buy” rating and issued a $120.00 target price on shares of Qorvo in a research report on Wednesday, May 6th. Wolfe Research downgraded shares of Qorvo from an “outperform” rating to a “peer perform” rating in a research report on Friday, April 17th. UBS Group increased their target price on shares of Qorvo from $87.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Qorvo in a research report on Monday, April 27th. Finally, Zacks Research downgraded shares of Qorvo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 16th. 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.com, Qorvo presently has a consensus rating of “Hold” and a consensus price target of $96.63.

Qorvo Stock Up 2.7%

QRVO stock opened at $101.28 on Tuesday. Qorvo, Inc. has a 12-month low of $74.92 and a 12-month high of $109.49. The company has a quick ratio of 2.46, a current ratio of 3.24 and a debt-to-equity ratio of 0.46. The company has a market cap of $8.91 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 1.54 and a beta of 1.43. The company has a 50 day moving average of $91.95 and a two-hundred day moving average of $85.90.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.48. The company had revenue of $808.28 million during the quarter, compared to the consensus estimate of $801.31 million. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The company’s revenue was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.42 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, equities analysts anticipate that Qorvo, Inc. will post 5.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Qorvo

In other news, VP Gina Harrison sold 4,714 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total transaction of $471,400.00. Following the transaction, the vice president owned 24,429 shares in the company, valued at approximately $2,442,900. This trade represents a 16.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert A. Bruggeworth sold 57,957 shares of the firm’s 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 transaction, the chief executive officer 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 a total of 1,966,127 shares of company stock worth $198,911,103 over the last quarter. Company insiders own 0.41% of the company’s stock.

Qorvo Profile

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.