12,359 Shares in Qorvo, Inc. $QRVO Purchased by Redwood Investment Management LLC

Redwood Investment Management LLC bought a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 12,359 shares of the semiconductor company’s stock, valued at approximately $1,153,000.

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

Qorvo Trading Up 1.1%

Shares of QRVO stock opened at $96.18 on Friday. The firm has a fifty day moving average of $92.00 and a 200-day moving average of $88.90. The stock has a market cap of $8.48 billion, a price-to-earnings ratio of 22.32, a P/E/G ratio of 1.38 and a beta of 1.44. Qorvo, Inc. has a 52-week low of $74.92 and a 52-week high of $109.49. 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 (NASDAQ:QRVO) last issued its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.53. The business had revenue of $784.79 million for the quarter, compared to analyst estimates of $743.28 million. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. The firm’s revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, equities research analysts forecast that Qorvo, Inc. will post 6.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Peter A. Feld sold 1,900,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $101.20, for a total value of $192,280,000.00. Following the completion of the transaction, the director directly owned 5,611,526 shares of the company’s stock, valued at approximately $567,886,431.20. This represents a 25.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 value of $534,982.50. Following the transaction, the senior vice president owned 44,021 shares of the company’s stock, valued at $4,292,047.50. This trade represents a 11.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,968,623 shares of company stock valued at $199,138,818 over the last ninety days. Company insiders own 0.49% of the company’s stock.

Wall Street Analyst Weigh In

QRVO has been the topic of several research reports. Craig Hallum restated a “buy” rating and set a $120.00 price objective on shares of Qorvo in a report on Wednesday, May 6th. UBS Group increased their target price on shares of Qorvo from $91.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. TD Cowen reissued a “hold” rating on shares of Qorvo in a research report on Wednesday, July 29th. Citigroup decreased their target price on Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qorvo in a report on Friday, July 24th. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $94.00.

About Qorvo

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.