NINE MASTS CAPITAL Ltd Makes New Investment in Qorvo, Inc. $QRVO

NINE MASTS CAPITAL Ltd purchased a new stake in Qorvo, Inc. (NASDAQ:QRVO) during the 2nd quarter, HoldingsChannel reports. The fund purchased 130,035 shares of the semiconductor company’s stock, valued at approximately $12,128,000. Qorvo comprises approximately 1.2% of NINE MASTS CAPITAL Ltd’s portfolio, making the stock its 14th biggest holding.

A number of other large investors have also recently modified their holdings of QRVO. Bank of America Corp DE increased its position in shares of 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 worth $136,795,000 after purchasing an additional 1,571,303 shares during the last quarter. LSV Asset Management lifted its position in Qorvo by 2.3% during the fourth quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock valued at $131,452,000 after purchasing an additional 34,605 shares during the last quarter. M&T Bank Corp lifted its position in Qorvo by 3,397.3% during the fourth quarter. M&T Bank Corp now owns 150,173 shares of the semiconductor company’s stock valued at $12,691,000 after purchasing an additional 145,879 shares during the last quarter. Credit Industriel ET Commercial purchased a new position in Qorvo in the 4th quarter worth approximately $5,223,000. Finally, Fieldview Capital Management LLC grew its stake in Qorvo by 570.1% in the 4th quarter. Fieldview Capital Management LLC now owns 24,352 shares of the semiconductor company’s stock worth $2,058,000 after buying an additional 20,718 shares in the last quarter. Institutional investors own 88.57% of the company’s stock.

Qorvo Trading Down 2.1%

QRVO stock opened at $96.04 on Tuesday. The company has a market capitalization of $8.47 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 1.43 and a beta of 1.44. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.68 and a current ratio of 3.54. Qorvo, Inc. has a one year low of $74.92 and a one year high of $109.49. The company’s 50 day moving average price is $92.29 and its two-hundred day moving average price is $88.02.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.53. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. The company had revenue of $784.79 million during the quarter, compared to analysts’ expectations of $743.28 million. During the same quarter in the prior year, the company earned $0.92 EPS. The firm’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. As a group, analysts predict that Qorvo, Inc. will post 6.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Qorvo

In other news, CEO Robert A. Bruggeworth sold 57,957 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer owned 319,880 shares of the company’s stock, valued at approximately $32,115,952. The trade was a 15.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Paul J. Fego sold 2,500 shares of the firm’s 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 $250,000.00. Following the transaction, the senior vice president owned 71,038 shares in the company, valued at approximately $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. In the last ninety days, insiders have sold 1,965,171 shares of company stock valued at $198,820,283. Corporate insiders own 0.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on QRVO shares. JPMorgan Chase & Co. increased their price target on shares of Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Qorvo in a research report on Friday, July 24th. Citigroup reduced their target price on Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Barclays upgraded Qorvo from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $95.00 to $100.00 in a research report on Wednesday, April 22nd. Finally, Wall Street Zen raised Qorvo from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.