Qorvo, Inc. $QRVO Shares Sold by Oak Thistle LLC

Oak Thistle LLC cut its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 45.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,931 shares of the semiconductor company’s stock after selling 6,616 shares during the quarter. Oak Thistle LLC’s holdings in Qorvo were worth $740,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in QRVO. Smartleaf Asset Management LLC lifted its position in shares of Qorvo by 215.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 231 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Qorvo in the 3rd quarter worth $36,000. Elevation Wealth Partners LLC increased its holdings in Qorvo by 301.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 413 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 310 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position 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 acquiring an additional 180 shares during the period. Finally, Covestor Ltd raised its position in Qorvo by 142.1% during the fourth quarter. Covestor Ltd now owns 523 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 307 shares during the period. 88.57% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Qorvo

In other Qorvo news, CEO Robert A. Bruggeworth sold 57,957 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $100.40, for a total value of $5,818,882.80. Following the transaction, the chief executive officer directly owned 319,880 shares of the company’s stock, valued at $32,115,952. This trade represents a 15.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter A. Feld sold 1,900,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $101.20, for a total value of $192,280,000.00. Following the transaction, the director owned 5,611,526 shares in the company, valued at approximately $567,886,431.20. This represents a 25.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,966,127 shares of company stock worth $198,911,103 in the last 90 days. 0.49% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on QRVO. Mizuho reiterated an “underperform” rating and issued a $66.00 target price (down from $70.00) on shares of Qorvo in a research report on Monday, April 20th. JPMorgan Chase & Co. raised their price target on shares of Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Wall Street Zen upgraded Qorvo from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. Craig Hallum reiterated a “buy” rating and set a $120.00 price objective on shares of Qorvo in a research note on Wednesday, May 6th. Finally, TD Cowen reissued a “hold” rating on shares of Qorvo in a report on Wednesday, July 29th. Three research 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $94.00.

Qorvo Price Performance

Qorvo stock opened at $98.24 on Thursday. Qorvo, Inc. has a 52-week low of $74.92 and a 52-week high of $109.49. The firm has a market capitalization of $8.67 billion, a price-to-earnings ratio of 22.79, a PEG ratio of 1.41 and a beta of 1.44. The company has a fifty day simple moving average of $92.48 and a 200-day simple moving average of $87.69. 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 issued its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.53. The business had revenue of $784.79 million during the quarter, compared to analysts’ expectations of $743.28 million. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, equities analysts anticipate that Qorvo, Inc. will post 6.3 EPS for the current fiscal 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.