Sanctuary Advisors LLC Acquires New Shares in Qorvo, Inc. $QRVO

Sanctuary Advisors LLC bought a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,537 shares of the semiconductor company’s stock, valued at approximately $796,000.

Several other institutional investors have also recently made changes to their positions in the stock. Bank of America Corp DE boosted its holdings in Qorvo by 801.4% in the first quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company’s stock valued at $136,795,000 after acquiring an additional 1,571,303 shares during the last quarter. LSV Asset Management increased its stake in Qorvo by 2.3% during the fourth quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock worth $131,452,000 after acquiring an additional 34,605 shares during the last quarter. Credit Industriel ET Commercial purchased a new position in shares of Qorvo in the 4th quarter worth about $5,223,000. Amundi lifted its stake in shares of Qorvo by 197.2% in the 1st quarter. Amundi now owns 772,352 shares of the semiconductor company’s stock valued at $59,780,000 after purchasing an additional 512,475 shares in the last quarter. Finally, Fieldview Capital Management LLC lifted its stake 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 purchasing an additional 20,718 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on QRVO. Citigroup dropped their target price on shares of Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. JPMorgan Chase & Co. lifted their price target on shares of Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. TD Cowen reissued a “hold” rating on shares of Qorvo in a research report on Wednesday, July 29th. Wall Street Zen raised shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. Finally, Craig Hallum restated a “buy” rating and set a $120.00 target price on shares of Qorvo in a report on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $94.00.

Qorvo Stock Down 1.5%

Shares of Qorvo stock opened at $94.73 on Friday. The business has a 50-day moving average of $91.92 and a 200-day moving average of $88.94. 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 $8.36 billion, a PE ratio of 21.98, a P/E/G ratio of 1.40 and a beta of 1.44. Qorvo, Inc. has a 1-year low of $74.92 and a 1-year high of $109.49.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.53. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The business had revenue of $784.79 million for the quarter, compared to analyst estimates of $743.28 million. During the same period in the previous year, the company earned $0.92 earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, equities analysts forecast that Qorvo, Inc. will post 6.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Grant Brown sold 5,179 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $97.50, for a total transaction of $504,952.50. Following the completion of the sale, the chief financial officer owned 49,268 shares of the company’s stock, valued at approximately $4,803,630. This trade represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Philip Chesley sold 5,487 shares of the firm’s stock in a transaction that occurred 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 directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,968,623 shares of company stock valued at $199,138,818 over the last 90 days. 0.49% of the stock is owned by company insiders.

Qorvo Company 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.