GSA Capital Partners LLP Takes Position in Qorvo, Inc. $QRVO

GSA Capital Partners LLP bought a new stake in Qorvo, Inc. (NASDAQ:QRVO) in the second quarter, HoldingsChannel.com reports. The fund bought 20,002 shares of the semiconductor company’s stock, valued at approximately $1,866,000.

Several other large investors also recently bought and sold shares of the business. Bank of America Corp DE increased its holdings in shares of Qorvo by 801.4% in the 1st quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company’s stock worth $136,795,000 after buying an additional 1,571,303 shares during the last quarter. LSV Asset Management raised its position in shares of Qorvo by 2.3% during the 4th quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock valued at $131,452,000 after buying an additional 34,605 shares in the last quarter. Credit Industriel ET Commercial bought a new position in shares of Qorvo in the 4th quarter valued at about $5,223,000. M&T Bank Corp lifted its holdings in shares of Qorvo by 3,397.3% in the 4th quarter. M&T Bank Corp now owns 150,173 shares of the semiconductor company’s stock valued at $12,691,000 after acquiring an additional 145,879 shares during the last quarter. Finally, Fieldview Capital Management LLC lifted its holdings in shares of Qorvo by 570.1% in the 4th quarter. Fieldview Capital Management LLC now owns 24,352 shares of the semiconductor company’s stock valued at $2,058,000 after acquiring an additional 20,718 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Wall Street Analysts Forecast Growth

QRVO has been the topic of several analyst reports. Barclays raised Qorvo from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $95.00 to $100.00 in a research note on Wednesday, April 22nd. Wall Street Zen raised Qorvo from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. UBS Group lifted their target price on Qorvo from $91.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Mizuho reissued an “underperform” rating and set a $66.00 target price (down from $70.00) on shares of Qorvo in a research report on Monday, April 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a report on Friday, July 24th. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Qorvo presently has an average rating of “Hold” and an average target price of $94.00.

Qorvo Price Performance

QRVO stock opened at $98.11 on Monday. The stock has a market cap of $8.66 billion, a PE ratio of 22.76, a P/E/G ratio of 1.43 and a beta of 1.44. Qorvo, Inc. has a 12 month low of $74.92 and a 12 month high of $109.49. The company has a 50-day moving average price of $92.37 and a 200 day moving average price of $87.92. 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 (NASDAQ:QRVO) last posted its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.53. The company had revenue of $784.79 million for the quarter, compared to analyst estimates of $743.28 million. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Equities research analysts anticipate that Qorvo, Inc. will post 6.3 earnings per share for the current year.

Insiders Place Their Bets

In other 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 transaction, the director owned 5,611,526 shares of the company’s stock, valued at approximately $567,886,431.20. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Gina Harrison sold 4,714 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $100.00, for a total value of $471,400.00. Following the completion of the sale, the vice president owned 24,429 shares in the company, valued at approximately $2,442,900. The trade was a 16.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,966,127 shares of company stock worth $198,911,103 over the last three months. 0.49% of the stock is currently owned by corporate insiders.

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.