Mirae Asset Global Investments Co. Ltd. Raises Stock Holdings in Qorvo, Inc. $QRVO

Mirae Asset Global Investments Co. Ltd. raised its stake in Qorvo, Inc. (NASDAQ:QRVO) by 11.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 117,401 shares of the semiconductor company’s stock after purchasing an additional 11,745 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Qorvo were worth $10,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of QRVO. Smartleaf Asset Management LLC grew its position in shares of Qorvo by 215.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock worth $29,000 after buying an additional 231 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Qorvo during the third quarter valued at approximately $36,000. Elevation Wealth Partners LLC boosted its stake in Qorvo by 301.0% in the second quarter. Elevation Wealth Partners LLC now owns 413 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 310 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in Qorvo by 60.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 180 shares in the last quarter. Finally, Covestor Ltd grew its holdings in Qorvo by 142.1% in the fourth quarter. Covestor Ltd now owns 523 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 307 shares during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Qorvo

In other Qorvo news, SVP Paul J. Fego sold 2,500 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $100.00, for a total transaction of $250,000.00. Following the sale, the senior vice president owned 71,038 shares in the company, valued at approximately $7,103,800. The trade was a 3.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gina Harrison sold 4,714 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $471,400.00. Following the completion of the transaction, the vice president directly owned 24,429 shares in the company, valued at $2,442,900. This represents a 16.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,966,127 shares of company stock worth $198,911,103. 0.49% of the stock is owned by insiders.

Qorvo Trading Up 0.2%

NASDAQ QRVO opened at $98.44 on Friday. The company has a fifty day simple moving average of $92.37 and a two-hundred day simple moving average of $87.81. The stock has a market cap of $8.68 billion, a P/E ratio of 22.84, a P/E/G ratio of 1.43 and a beta of 1.44. Qorvo, Inc. has a 12-month low of $74.92 and a 12-month high of $109.49. The company has a current ratio of 3.54, a quick ratio of 2.68 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.53. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. The firm had revenue of $784.79 million for the quarter, compared to analyst estimates of $743.28 million. During the same period in the previous year, the company earned $0.92 earnings per share. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, analysts forecast that Qorvo, Inc. will post 6.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on QRVO. Mizuho reaffirmed an “underperform” rating and set a $66.00 price target (down from $70.00) on shares of Qorvo in a research report on Monday, April 20th. Citigroup lowered their price objective on Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Zacks Research downgraded Qorvo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qorvo in a research report on Friday, July 24th. Finally, Craig Hallum reiterated a “buy” rating and issued a $120.00 price target on shares of Qorvo in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $94.00.

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.