159,911 Shares in Qorvo, Inc. $QRVO Bought by Corient Private Wealth LP

Corient Private Wealth LP bought a new stake in Qorvo, Inc. (NASDAQ:QRVO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 159,911 shares of the semiconductor company’s stock, valued at approximately $14,915,000.

A number of other large investors have also added to or reduced their stakes in the business. Bank of America Corp DE bought a new stake in Qorvo during the 2nd quarter worth approximately $182,131,000. Caisse de depot et placement du Quebec bought a new position in shares of Qorvo during the second quarter worth about $15,885,000. Man Group plc acquired a new stake in Qorvo during the 2nd quarter valued at approximately $41,718,000. Jupiter Topco LLC bought a new stake in shares of Qorvo in the 2nd quarter valued at $52,975,000. Finally, Kintayl Capital LP bought a new stake in Qorvo during the second quarter valued at $5,247,000. Institutional investors own 88.57% of the company’s stock.

Insider Transactions at Qorvo

In other Qorvo news, SVP Philip Chesley sold 5,487 shares of the business’s stock in a transaction 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 sale, the senior vice president directly owned 44,021 shares in the company, valued at $4,292,047.50. The trade was a 11.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Peter A. Feld sold 1,900,000 shares of Qorvo stock in a transaction dated 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 sale, the director directly owned 5,611,526 shares of the company’s stock, valued at approximately $567,886,431.20. This trade represents a 25.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,968,623 shares of company stock valued at $199,138,818. Corporate insiders own 0.49% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on QRVO shares. Citigroup decreased their target price on Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. JPMorgan Chase & Co. raised their price objective on Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. UBS Group raised their price objective 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. Weiss Ratings reissued a “hold (c)” rating on shares of Qorvo in a report on Friday, July 24th. Finally, TD Cowen reissued a “hold” rating on shares of Qorvo in a research report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $94.00.

Qorvo Stock Performance

Shares of QRVO opened at $94.73 on Friday. The stock has a 50 day moving average of $91.92 and a 200 day moving average of $88.94. The company has a current ratio of 3.54, a quick ratio of 2.68 and a debt-to-equity ratio of 0.45. Qorvo, Inc. has a 12 month low of $74.92 and a 12 month high of $109.49. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 1.38 and a beta of 1.44.

Qorvo (NASDAQ:QRVO) last posted its quarterly 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. 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 analyst estimates of $743.28 million. During the same quarter in the prior year, the business earned $0.92 earnings per share. The firm’s revenue for the quarter 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, sell-side analysts forecast that Qorvo, Inc. will post 6.3 earnings per share for the current year.

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.