LSV Asset Management Acquires 34,605 Shares of Qorvo, Inc. $QRVO

LSV Asset Management grew its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,555,461 shares of the semiconductor company’s stock after acquiring an additional 34,605 shares during the period. LSV Asset Management’s holdings in Qorvo were worth $131,452,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in QRVO. Jones Financial Companies Lllp grew its position in Qorvo by 440.1% in the first quarter. Jones Financial Companies Lllp now owns 8,134 shares of the semiconductor company’s stock worth $589,000 after acquiring an additional 6,628 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Qorvo by 158.7% in the second quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company’s stock worth $180,000 after acquiring an additional 1,301 shares in the last quarter. First Trust Advisors LP grew its position in Qorvo by 56.5% in the second quarter. First Trust Advisors LP now owns 142,503 shares of the semiconductor company’s stock worth $12,100,000 after acquiring an additional 51,475 shares in the last quarter. Marshall Wace LLP bought a new stake in Qorvo in the second quarter worth approximately $428,000. Finally, Cerity Partners LLC bought a new stake in Qorvo in the second quarter worth approximately $327,000. 88.57% of the stock is owned by institutional investors.

Qorvo Price Performance

NASDAQ QRVO opened at $106.43 on Friday. The company has a current ratio of 3.24, a quick ratio of 2.46 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $84.43 and a 200 day simple moving average of $84.04. The company has a market cap of $9.37 billion, a P/E ratio of 29.40, a P/E/G ratio of 1.66 and a beta of 1.42. Qorvo, Inc. has a 1 year low of $73.00 and a 1 year high of $106.46.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data 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. The business had revenue of $808.28 million during the quarter, compared to the consensus estimate of $801.31 million. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. Qorvo’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.42 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, sell-side analysts predict that Qorvo, Inc. will post 5.87 EPS for the current year.

Insiders Place Their Bets

In other Qorvo news, VP Gina Harrison sold 956 shares of the stock in a transaction 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 completion of the sale, the vice president directly owned 29,143 shares of the company’s stock, valued at $2,768,585. This represents a 3.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.41% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

QRVO has been the subject of several recent research reports. Stifel Nicolaus decreased their target price on shares of Qorvo from $88.00 to $85.00 and set a “hold” rating for the company in a research report on Wednesday, January 28th. JPMorgan Chase & Co. upped their price objective on shares of Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Wolfe Research downgraded shares of Qorvo from an “outperform” rating to a “peer perform” rating in a report on Friday, April 17th. UBS Group upped their price objective on shares of Qorvo from $87.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, Mizuho reaffirmed an “underperform” rating and set a $66.00 price objective (down from $70.00) on shares of Qorvo in a report on Monday, April 20th. Three research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Qorvo currently has a consensus rating of “Hold” and an average target price of $96.63.

Qorvo Company 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.