11,018 Shares in Qorvo, Inc. $QRVO Acquired by Callan Family Office LLC

Callan Family Office LLC purchased a new position in Qorvo, Inc. (NASDAQ:QRVO) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 11,018 shares of the semiconductor company’s stock, valued at approximately $1,028,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in QRVO. BlackRock Inc. purchased a new stake in shares of Qorvo in the 2nd quarter valued at approximately $942,610,000. State Street Corp raised its stake in Qorvo by 5.0% during the 2nd quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company’s stock valued at $314,516,000 after purchasing an additional 175,031 shares during the period. FIL Ltd lifted its holdings in shares of Qorvo by 13.2% in the fourth quarter. FIL Ltd now owns 3,610,045 shares of the semiconductor company’s stock valued at $305,085,000 after purchasing an additional 421,224 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Qorvo by 16.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,181,479 shares of the semiconductor company’s stock valued at $168,842,000 after purchasing an additional 311,645 shares in the last quarter. Finally, Bank of America Corp DE boosted 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 buying an additional 1,571,303 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Robert A. Bruggeworth sold 57,957 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $100.40, for a total transaction of $5,818,882.80. Following the completion of the transaction, the chief executive officer owned 319,880 shares in the company, valued at approximately $32,115,952. This represents a 15.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Peter A. Feld sold 1,900,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $101.20, for a total value of $192,280,000.00. Following the transaction, the director directly owned 5,611,526 shares of the company’s stock, valued at $567,886,431.20. This trade represents a 25.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 1,968,623 shares of company stock worth $199,138,818. Company insiders own 0.49% of the company’s stock.

Qorvo Trading Down 0.2%

QRVO opened at $95.37 on Tuesday. The company has a current ratio of 3.54, a quick ratio of 2.68 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average price of $92.08 and a two-hundred day moving average price of $88.63. Qorvo, Inc. has a 1-year low of $74.92 and a 1-year high of $109.49. The stock has a market capitalization of $8.41 billion, a PE ratio of 22.13, a PEG ratio of 1.39 and a beta of 1.44.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Craig Hallum reiterated a “buy” rating and issued a $120.00 target price on shares of Qorvo in a research note on Wednesday, May 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Qorvo in a research note on Friday, July 24th. UBS Group upped their price objective on shares of Qorvo from $91.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Finally, Wall Street Zen raised Qorvo from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. Three investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $94.00.

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.