155,180 Shares in Qorvo, Inc. $QRVO Bought by Governors Lane LP

Governors Lane LP bought a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 155,180 shares of the semiconductor company’s stock, valued at approximately $13,114,000. Qorvo comprises approximately 0.8% of Governors Lane LP’s investment portfolio, making the stock its 21st largest holding. Governors Lane LP owned approximately 0.17% of Qorvo as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in QRVO. Jain Global LLC increased its holdings in Qorvo by 71.6% in the third quarter. Jain Global LLC now owns 277,219 shares of the semiconductor company’s stock valued at $25,249,000 after buying an additional 115,640 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Qorvo by 58.7% in the third quarter. JPMorgan Chase & Co. now owns 313,156 shares of the semiconductor company’s stock valued at $28,522,000 after buying an additional 115,890 shares in the last quarter. SG Americas Securities LLC increased its holdings in Qorvo by 2,687.9% in the fourth quarter. SG Americas Securities LLC now owns 234,464 shares of the semiconductor company’s stock valued at $19,815,000 after buying an additional 226,054 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Qorvo by 83.6% in the third quarter. Envestnet Asset Management Inc. now owns 40,443 shares of the semiconductor company’s stock valued at $3,684,000 after buying an additional 18,415 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Qorvo by 0.9% in the third quarter. Vanguard Group Inc. now owns 11,105,104 shares of the semiconductor company’s stock valued at $1,011,453,000 after buying an additional 100,058 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Stock Performance

QRVO opened at $94.65 on Thursday. The firm has a market capitalization of $8.33 billion, a PE ratio of 26.15, a PEG ratio of 1.51 and a beta of 1.43. Qorvo, Inc. has a twelve month low of $74.92 and a twelve month high of $109.49. The firm’s 50-day moving average price is $92.61 and its 200 day moving average price is $86.04. 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 (NASDAQ:QRVO) last posted its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.48. The firm had revenue of $808.28 million for the quarter, compared to analyst estimates of $801.31 million. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. Qorvo’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.42 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, sell-side analysts expect that Qorvo, Inc. will post 5.87 EPS for the current fiscal year.

Analyst Ratings Changes

QRVO has been the subject of a number of recent analyst reports. Zacks Research cut shares of Qorvo from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Citigroup lifted their price objective on shares of Qorvo from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Wolfe Research cut shares of Qorvo from an “outperform” rating to a “peer perform” rating in a report on Friday, April 17th. Mizuho reaffirmed an “underperform” rating and issued a $66.00 price objective (down from $70.00) on shares of Qorvo in a report on Monday, April 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Qorvo in a research note on Monday, April 27th. Three analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Qorvo presently has an average rating of “Hold” and a consensus target price of $96.63.

Insider Buying and Selling at Qorvo

In related news, Director Peter A. Feld sold 1,900,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $101.20, for a total transaction of $192,280,000.00. Following the transaction, the director directly owned 5,611,526 shares in the company, valued at approximately $567,886,431.20. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Paul J. Fego sold 2,500 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $100.00, for a total transaction of $250,000.00. Following the transaction, the senior vice president owned 71,038 shares in the company, valued at $7,103,800. The trade was a 3.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,966,127 shares of company stock valued at $198,911,103. Insiders own 0.41% of the company’s stock.

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.