Vulcan Value Partners LLC Reduces Position in Qorvo, Inc. $QRVO

Vulcan Value Partners LLC cut its stake in Qorvo, Inc. (NASDAQ:QRVO) by 32.5% in the second quarter, HoldingsChannel reports. The fund owned 181,315 shares of the semiconductor company’s stock after selling 87,498 shares during the period. Qorvo accounts for approximately 0.5% of Vulcan Value Partners LLC’s investment portfolio, making the stock its 26th largest holding. Vulcan Value Partners LLC’s holdings in Qorvo were worth $16,911,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in shares of Qorvo by 801.4% during the 1st quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company’s stock valued at $136,795,000 after buying an additional 1,571,303 shares in the last quarter. LSV Asset Management increased its stake in Qorvo by 2.3% during the 4th quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock worth $131,452,000 after buying an additional 34,605 shares in the last quarter. Amundi lifted its position in shares of Qorvo by 197.2% in the first quarter. Amundi now owns 772,352 shares of the semiconductor company’s stock valued at $59,780,000 after acquiring an additional 512,475 shares in the last quarter. Fieldview Capital Management LLC increased its position in shares of Qorvo by 570.1% during the fourth quarter. Fieldview Capital Management LLC now owns 24,352 shares of the semiconductor company’s stock worth $2,058,000 after purchasing an additional 20,718 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Qorvo in the 2nd quarter valued at $1,866,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Stock Performance

Shares of NASDAQ:QRVO traded up $1.23 during trading on Tuesday, reaching $104.07. The company had a trading volume of 1,440,356 shares, compared to its average volume of 1,253,990. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.54 and a quick ratio of 2.68. The firm has a market capitalization of $9.18 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 1.81 and a beta of 1.45. Qorvo, Inc. has a fifty-two week low of $74.92 and a fifty-two week high of $109.49. The stock’s fifty day moving average price is $92.28 and its 200 day moving average price is $89.64.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.53. The company had revenue of $784.79 million for the quarter, compared to analysts’ expectations of $743.28 million. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, equities research analysts predict that Qorvo, Inc. will post 6.3 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on QRVO shares. Wall Street Zen raised shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. Citigroup reduced their price objective 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. Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a research report on Friday, July 24th. TD Cowen reaffirmed a “hold” rating on shares of Qorvo in a research note on Wednesday, July 29th. Finally, UBS Group lifted their price objective on Qorvo from $91.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. 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. Based on data from MarketBeat.com, Qorvo currently has an average rating of “Hold” and an average target price of $94.00.

Insider Buying and Selling at Qorvo

In related news, SVP Steven Creviston sold 4,810 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $100.87, for a total value of $485,184.70. Following the sale, the senior vice president owned 119,451 shares of the company’s stock, valued at approximately $12,049,022.37. This represents a 3.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Frank Stewart sold 8,279 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $94.72, for a total transaction of $784,186.88. Following the sale, the senior vice president owned 43,069 shares in the company, valued at approximately $4,079,495.68. This trade represents a 16.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 54,999 shares of company stock worth $5,458,714. 0.49% of the stock is currently owned by insiders.

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.