Qorvo, Inc. $QRVO Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lowered its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 57.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,122 shares of the semiconductor company’s stock after selling 6,920 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Qorvo were worth $396,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Fred Alger Management LLC increased its position in shares of Qorvo by 5.3% during the 3rd quarter. Fred Alger Management LLC now owns 3,179 shares of the semiconductor company’s stock worth $290,000 after purchasing an additional 160 shares during the last quarter. Beacon Investment Advisory Services Inc. lifted its position in Qorvo by 5.7% in the fourth 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. Fifth Third Wealth Advisors LLC lifted its position in Qorvo by 4.4% in the first quarter. Fifth Third Wealth Advisors LLC now owns 3,955 shares of the semiconductor company’s stock valued at $306,000 after buying an additional 167 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in Qorvo by 60.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company’s stock worth $41,000 after buying an additional 180 shares during the period. Finally, Larson Financial Group LLC boosted its stake in Qorvo by 14.6% during the fourth quarter. Larson Financial Group LLC now owns 1,483 shares of the semiconductor company’s stock worth $125,000 after buying an additional 189 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Stock Performance

NASDAQ QRVO opened at $83.50 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.24 and a quick ratio of 2.46. The company has a market cap of $7.37 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.31 and a beta of 1.44. The stock has a 50-day moving average of $95.17 and a two-hundred day moving average of $86.51. Qorvo, Inc. has a 1-year low of $74.92 and a 1-year high of $109.49.

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

Analyst Ratings Changes

QRVO has been the topic of a number of research analyst reports. Craig Hallum reissued a “buy” rating and issued a $120.00 price target on shares of Qorvo in a research note on Wednesday, May 6th. UBS Group increased their price objective on shares of Qorvo from $87.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Citigroup lifted their target price on shares of Qorvo from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Qorvo in a research report on Monday, April 27th. Finally, Wall Street Zen upgraded Qorvo from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Three investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $97.07.

Insider Buying and Selling at Qorvo

In other Qorvo news, Director Peter A. Feld sold 1,900,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $101.20, for a total transaction of $192,280,000.00. Following the sale, the director directly owned 5,611,526 shares in the company, valued at $567,886,431.20. This represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Paul J. Fego sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the transaction, the senior vice president directly owned 71,038 shares of the company’s stock, valued at $7,103,800. This represents a 3.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,966,127 shares of company stock valued at $198,911,103 in the last 90 days. Corporate insiders own 0.49% of the company’s stock.

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.