Hsbc Holdings PLC Decreases Holdings in Qorvo, Inc. $QRVO

Hsbc Holdings PLC decreased its stake in Qorvo, Inc. (NASDAQ:QRVO) by 76.9% during the 4th quarter, Holdings Channel reports. The firm owned 18,222 shares of the semiconductor company’s stock after selling 60,721 shares during the quarter. Hsbc Holdings PLC’s holdings in Qorvo were worth $1,552,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Stance Capital LLC purchased a new position in Qorvo in the 3rd quarter valued at about $27,000. Smartleaf Asset Management LLC boosted its holdings in Qorvo by 215.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock worth $29,000 after buying an additional 231 shares during the last quarter. Sound Income Strategies LLC increased its stake in Qorvo by 952.8% during the 4th quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock worth $30,000 after buying an additional 343 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Qorvo during the 3rd quarter worth approximately $36,000. Finally, Clearstead Advisors LLC raised its holdings in shares of Qorvo by 93.3% during the third quarter. Clearstead Advisors LLC now owns 431 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. UBS Group raised their price objective on Qorvo from $87.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Zacks Research downgraded shares of Qorvo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Craig Hallum restated a “buy” rating and set a $120.00 price target on shares of Qorvo in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qorvo in a research note on Monday, April 27th. Finally, Wolfe Research cut Qorvo from an “outperform” rating to a “peer perform” rating in a report on Friday, April 17th. Three analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $96.62.

Insider Transactions at Qorvo

In related news, VP Gina Harrison sold 4,714 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $100.00, for a total transaction of $471,400.00. Following the transaction, the vice president owned 24,429 shares of the company’s stock, valued at approximately $2,442,900. This represents a 16.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert A. Bruggeworth sold 57,957 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $100.40, for a total transaction of $5,818,882.80. Following the sale, the chief executive officer directly owned 319,880 shares in the company, valued at $32,115,952. This represents a 15.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,966,127 shares of company stock worth $198,911,103 over the last quarter. 0.41% of the stock is owned by corporate insiders.

Qorvo Stock Performance

NASDAQ QRVO opened at $93.27 on Wednesday. The stock has a fifty day simple moving average of $95.60 and a 200-day simple moving average of $86.57. The company has a current ratio of 3.24, a quick ratio of 2.46 and a debt-to-equity ratio of 0.46. The stock has a market cap of $8.23 billion, a PE ratio of 25.77, a P/E/G ratio of 1.47 and a beta of 1.43. Qorvo, Inc. has a twelve month low of $74.92 and a twelve month high of $109.49.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.48. The company had revenue of $808.28 million for the quarter, compared to analysts’ expectations of $801.31 million. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. Qorvo’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.42 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Equities analysts anticipate that Qorvo, Inc. will post 5.84 earnings per share for the current year.

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.