Greenland Capital Management LP Invests $534,000 in Qorvo, Inc. $QRVO

Greenland Capital Management LP bought a new position in Qorvo, Inc. (NASDAQ:QRVO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,726 shares of the semiconductor company’s stock, valued at approximately $534,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its holdings in shares of Qorvo by 215.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 231 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Qorvo during the 2nd quarter worth $32,000. Advisory Services Network LLC acquired a new stake in shares of Qorvo during the 3rd quarter worth $36,000. Elevation Wealth Partners LLC raised its position in shares of Qorvo by 301.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 413 shares of the semiconductor company’s stock worth $39,000 after buying an additional 310 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in shares of Qorvo by 60.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company’s stock worth $41,000 after buying an additional 180 shares during the period. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Qorvo news, SVP Philip Chesley sold 5,487 shares of Qorvo stock in a transaction on Monday, August 17th. The stock was sold at an average price of $97.50, for a total transaction of $534,982.50. Following the sale, the senior vice president owned 44,021 shares of the company’s stock, valued at $4,292,047.50. The trade was a 11.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert A. Bruggeworth sold 57,957 shares of the business’s stock in a transaction 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 transaction, the chief executive officer owned 319,880 shares of the company’s stock, valued at $32,115,952. This trade represents a 15.34% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 1,968,623 shares of company stock valued at $199,138,818. Corporate insiders own 0.49% of the company’s stock.

Qorvo Stock Performance

Qorvo stock opened at $95.56 on Friday. Qorvo, Inc. has a 12-month low of $74.92 and a 12-month high of $109.49. 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 $8.43 billion, a price-to-earnings ratio of 22.17, a price-to-earnings-growth ratio of 1.39 and a beta of 1.44. The firm’s fifty day moving average price is $92.19 and its 200 day moving average price is $88.46.

Qorvo (NASDAQ:QRVO) last issued 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. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The company had revenue of $784.79 million during the quarter, compared to analyst estimates of $743.28 million. During the same quarter last year, the firm earned $0.92 EPS. The business’s revenue was down 4.2% on a year-over-year basis. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, research analysts forecast that Qorvo, Inc. will post 6.3 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Wall Street Zen raised Qorvo from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. Craig Hallum restated a “buy” rating and issued a $120.00 price objective on shares of Qorvo in a report on Wednesday, May 6th. Citigroup decreased their target price on Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. UBS Group increased their target price on shares of Qorvo from $91.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Finally, TD Cowen restated a “hold” rating on shares of Qorvo in a report on Wednesday, July 29th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Qorvo presently has an average rating of “Hold” and a consensus price target of $94.00.

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.