Kestra Investment Management LLC Has $5.26 Million Stock Position in Qorvo, Inc. $QRVO

Kestra Investment Management LLC boosted its stake in Qorvo, Inc. (NASDAQ:QRVO) by 144.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 62,243 shares of the semiconductor company’s stock after buying an additional 36,776 shares during the period. Kestra Investment Management LLC’s holdings in Qorvo were worth $5,260,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Sage Rhino Capital LLC grew its stake in Qorvo by 4.4% in the 3rd quarter. Sage Rhino Capital LLC now owns 3,758 shares of the semiconductor company’s stock valued at $342,000 after buying an additional 160 shares during the last quarter. Fred Alger Management LLC grew its stake in Qorvo by 5.3% in the 3rd quarter. Fred Alger Management LLC now owns 3,179 shares of the semiconductor company’s stock valued at $290,000 after buying an additional 160 shares during the last quarter. Beacon Investment Advisory Services Inc. grew its stake in Qorvo by 5.7% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 3,001 shares of the semiconductor company’s stock valued at $254,000 after buying an additional 161 shares during the last quarter. Larson Financial Group LLC grew its stake in Qorvo by 14.6% in the 4th quarter. Larson Financial Group LLC now owns 1,483 shares of the semiconductor company’s stock valued at $125,000 after buying an additional 189 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC grew its stake in Qorvo by 0.3% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 62,938 shares of the semiconductor company’s stock valued at $5,479,000 after buying an additional 194 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Insider Buying and Selling at Qorvo

In other news, VP Gina Harrison sold 956 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $95.00, for a total transaction of $90,820.00. Following the completion of the sale, the vice president owned 29,143 shares of the company’s stock, valued at approximately $2,768,585. This represents a 3.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.41% of the company’s stock.

Qorvo Stock Performance

NASDAQ QRVO opened at $106.43 on Tuesday. The company has a quick ratio of 2.46, a current ratio of 3.24 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $9.37 billion, a P/E ratio of 29.40, a P/E/G ratio of 1.66 and a beta of 1.42. Qorvo, Inc. has a 12-month low of $73.00 and a 12-month high of $106.46. The firm has a 50-day moving average price of $84.98 and a two-hundred day moving average price of $84.11.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.48. The firm had revenue of $808.28 million during the quarter, compared to the consensus estimate of $801.31 million. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.42 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Analysts anticipate that Qorvo, Inc. will post 5.87 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on QRVO. Mizuho reiterated an “underperform” rating and issued a $66.00 price target (down from $70.00) on shares of Qorvo in a research note on Monday, April 20th. Zacks Research lowered shares of Qorvo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Benchmark reissued a “hold” rating on shares of Qorvo in a report on Wednesday, January 28th. TD Cowen cut their price objective on shares of Qorvo from $95.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, January 28th. Finally, Wolfe Research downgraded shares of Qorvo from an “outperform” rating to a “peer perform” rating in a report on Friday, April 17th. Three equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $96.63.

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.