Qorvo, Inc. $QRVO Shares Acquired by LSV Asset Management

LSV Asset Management boosted its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,555,461 shares of the semiconductor company’s stock after purchasing an additional 34,605 shares during the period. LSV Asset Management owned approximately 1.68% of Qorvo worth $131,452,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sage Rhino Capital LLC raised its holdings in shares of Qorvo by 4.4% during the third quarter. Sage Rhino Capital LLC now owns 3,758 shares of the semiconductor company’s stock valued at $342,000 after acquiring an additional 160 shares during the period. Fred Alger Management LLC raised its holdings in shares of Qorvo by 5.3% during the third quarter. Fred Alger Management LLC now owns 3,179 shares of the semiconductor company’s stock valued at $290,000 after acquiring an additional 160 shares during the period. Beacon Investment Advisory Services Inc. raised its holdings in shares of Qorvo by 5.7% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 3,001 shares of the semiconductor company’s stock valued at $254,000 after acquiring an additional 161 shares during the period. Larson Financial Group LLC raised its holdings in shares of Qorvo by 14.6% during the fourth quarter. Larson Financial Group LLC now owns 1,483 shares of the semiconductor company’s stock valued at $125,000 after acquiring an additional 189 shares during the period. Finally, NorthCrest Asset Manangement LLC raised its holdings in shares of Qorvo by 0.3% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 62,938 shares of the semiconductor company’s stock valued at $5,479,000 after acquiring an additional 194 shares during the period. 88.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on QRVO shares. KeyCorp restated a “sector weight” rating on shares of Qorvo in a report on Wednesday, January 28th. Stifel Nicolaus cut their price target on shares of Qorvo from $88.00 to $85.00 and set a “hold” rating on the stock in a report on Wednesday, January 28th. Barclays upgraded shares of Qorvo from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $95.00 to $100.00 in a report on Wednesday, April 22nd. Benchmark restated a “hold” rating on shares of Qorvo in a report on Wednesday, January 28th. Finally, Zacks Research lowered shares of Qorvo from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Three analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $96.63.

Qorvo Stock Up 8.9%

Qorvo stock opened at $106.43 on Friday. The firm has a market cap of $9.37 billion, a PE ratio of 29.40, a P/E/G ratio of 1.66 and a beta of 1.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.46 and a current ratio of 3.24. The firm’s 50 day moving average price is $84.43 and its two-hundred day moving average price is $84.04. Qorvo, Inc. has a twelve month low of $73.00 and a twelve month high of $106.46.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.48. The firm had revenue of $808.28 million for the quarter, compared to analyst estimates of $801.31 million. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The company’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 business earned $1.42 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, research analysts predict that Qorvo, Inc. will post 5.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other Qorvo news, VP Gina Harrison sold 956 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $95.00, for a total value of $90,820.00. Following the transaction, the vice president owned 29,143 shares in the company, valued at approximately $2,768,585. This represents a 3.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.41% of the company’s stock.

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.