Vulcan Value Partners LLC Has $16.91 Million Position in Qorvo, Inc. $QRVO

Vulcan Value Partners LLC trimmed its position in Qorvo, Inc. (NASDAQ:QRVO) by 32.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,315 shares of the semiconductor company’s stock after selling 87,498 shares during the period. Qorvo makes up approximately 0.5% of Vulcan Value Partners LLC’s portfolio, making the stock its 26th biggest position. Vulcan Value Partners LLC owned approximately 0.21% of Qorvo worth $16,911,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of QRVO. BlackRock Inc. bought a new stake in Qorvo in the 2nd quarter worth about $942,610,000. California State Teachers Retirement System increased its position in shares of Qorvo by 8,968.7% during the second quarter. California State Teachers Retirement System now owns 9,208,361 shares of the semiconductor company’s stock valued at $858,864,000 after acquiring an additional 9,106,821 shares during the last quarter. State Street Corp lifted its holdings in Qorvo by 5.0% during the second quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company’s stock worth $314,516,000 after acquiring an additional 175,031 shares during the period. FIL Ltd boosted its position in Qorvo by 13.2% in the fourth quarter. FIL Ltd now owns 3,610,045 shares of the semiconductor company’s stock worth $305,085,000 after purchasing an additional 421,224 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Qorvo by 16.7% in the 1st 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 during the period. 88.57% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on QRVO. TD Cowen reiterated a “hold” rating on shares of Qorvo in a research note on Wednesday, July 29th. Citigroup lowered their price target on shares of Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Wall Street Zen raised Qorvo from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. UBS Group boosted their target price on Qorvo from $91.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Qorvo in a research note on Friday, July 24th. Three equities research 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, the company has a consensus rating of “Hold” and a consensus target price of $94.00.

Qorvo Trading Up 1.2%

Shares of Qorvo stock traded up $1.23 on Tuesday, hitting $104.07. The stock had a trading volume of 1,440,356 shares, compared to its average volume of 1,253,990. The stock’s 50-day simple moving average is $92.28 and its two-hundred day simple moving average is $89.64. Qorvo, Inc. has a one year low of $74.92 and a one year high of $109.49. The stock has a market cap of $9.18 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 1.81 and a beta of 1.45. The company has a quick ratio of 2.68, a current ratio of 3.54 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.53. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The company had revenue of $784.79 million during the quarter, compared to analyst estimates of $743.28 million. During the same quarter last year, the firm posted $0.92 earnings per share. The firm’s revenue 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 predict that Qorvo, Inc. will post 6.3 EPS for the current year.

Insider Buying and Selling

In other Qorvo news, CEO Robert Bruggeworth sold 28,744 shares of Qorvo stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $100.87, for a total value of $2,899,407.28. Following the completion of the sale, the chief executive officer owned 325,546 shares of the company’s stock, valued at approximately $32,837,825.02. This trade represents a 8.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Steven Creviston sold 4,810 shares of Qorvo stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $100.87, for a total transaction of $485,184.70. Following the completion of the sale, the senior vice president directly owned 119,451 shares of the company’s stock, valued at approximately $12,049,022.37. This trade represents a 3.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 54,999 shares of company stock worth $5,458,714 over the last 90 days. 0.49% of the stock is currently owned by company insiders.

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.