Vulcan Value Partners LLC Lowers Holdings in Qorvo, Inc. $QRVO

Vulcan Value Partners LLC lowered its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 7.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,103,354 shares of the semiconductor company’s stock after selling 94,011 shares during the quarter. Qorvo accounts for 1.7% of Vulcan Value Partners LLC’s investment portfolio, making the stock its 17th biggest position. Vulcan Value Partners LLC’s holdings in Qorvo were worth $93,291,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in QRVO. Jones Financial Companies Lllp raised its position in shares of Qorvo by 440.1% during the 1st quarter. Jones Financial Companies Lllp now owns 8,134 shares of the semiconductor company’s stock valued at $589,000 after buying an additional 6,628 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Qorvo by 158.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company’s stock valued at $180,000 after buying an additional 1,301 shares in the last quarter. First Trust Advisors LP raised its position in shares of Qorvo by 56.5% during the 2nd quarter. First Trust Advisors LP now owns 142,503 shares of the semiconductor company’s stock valued at $12,100,000 after buying an additional 51,475 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Qorvo during the 2nd quarter valued at $428,000. Finally, Cerity Partners LLC purchased a new stake in shares of Qorvo during the 2nd quarter valued at $327,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on QRVO shares. Morgan Stanley set a $84.00 price objective on shares of Qorvo in a research report on Wednesday, January 28th. Benchmark restated a “hold” rating on shares of Qorvo in a research report on Wednesday, January 28th. Wolfe Research cut shares of Qorvo from an “outperform” rating to a “peer perform” rating in a research report on Friday, April 17th. UBS Group raised their price objective on shares of Qorvo from $87.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Finally, TD Cowen lowered their price objective on shares of Qorvo from $95.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, January 28th. Three research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $96.63.

Insider Buying and Selling at Qorvo

In related news, SVP Paul J. Fego sold 2,500 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the transaction, the senior vice president owned 71,038 shares of the company’s stock, valued at approximately $7,103,800. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gina Harrison sold 4,714 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total transaction of $471,400.00. Following the transaction, the vice president directly owned 24,429 shares in the company, valued at approximately $2,442,900. This represents a 16.18% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 8,170 shares of company stock worth $812,220. 0.41% of the stock is owned by insiders.

Qorvo Price Performance

QRVO stock opened at $103.91 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.46 and a current ratio of 3.24. Qorvo, Inc. has a 52 week low of $74.03 and a 52 week high of $109.49. The firm’s fifty day moving average is $86.09 and its 200 day moving average is $84.36. The firm has a market cap of $9.15 billion, a P/E ratio of 28.70, a P/E/G ratio of 1.69 and a beta of 1.42.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.21 by $0.48. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The company had revenue of $808.28 million for the quarter, compared to analyst estimates of $801.31 million. During the same quarter last year, the firm earned $1.42 EPS. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Research analysts predict that Qorvo, Inc. will post 5.87 earnings per share for the current 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.