Brandes Investment Partners LP Purchases 97,287 Shares of Qorvo, Inc. $QRVO

Brandes Investment Partners LP lifted its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 28.2% during the fourth quarter, Holdings Channel reports. The fund owned 442,000 shares of the semiconductor company’s stock after buying an additional 97,287 shares during the quarter. Brandes Investment Partners LP’s holdings in Qorvo were worth $37,354,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of QRVO. Norges Bank acquired a new position in shares of Qorvo during the 4th quarter valued at $92,430,000. Marshall Wace LLP lifted its position in shares of Qorvo by 16,066.5% during the 3rd quarter. Marshall Wace LLP now owns 814,630 shares of the semiconductor company’s stock valued at $74,197,000 after acquiring an additional 809,591 shares during the period. Balyasny Asset Management L.P. acquired a new position in shares of Qorvo during the 3rd quarter valued at $66,594,000. Dorsal Capital Management LP lifted its position in shares of Qorvo by 146.9% during the 3rd quarter. Dorsal Capital Management LP now owns 1,000,000 shares of the semiconductor company’s stock valued at $91,080,000 after acquiring an additional 595,000 shares during the period. Finally, Voloridge Investment Management LLC lifted its position in shares of Qorvo by 2,502.2% during the 3rd quarter. Voloridge Investment Management LLC now owns 553,596 shares of the semiconductor company’s stock valued at $50,422,000 after acquiring an additional 532,322 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Stock Performance

QRVO opened at $97.94 on Wednesday. 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’s fifty day moving average price is $90.28 and its two-hundred day moving average price is $85.45. Qorvo, Inc. has a 1-year low of $74.92 and a 1-year high of $109.49. The company has a market cap of $8.62 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 1.56 and a beta of 1.43.

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, topping 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 firm had revenue of $808.28 million for the quarter, compared to the consensus estimate of $801.31 million. During the same quarter in the prior year, the company posted $1.42 earnings per share. The business’s revenue was down 7.0% on a year-over-year basis. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, analysts expect that Qorvo, Inc. will post 5.87 EPS for the current fiscal year.

Insider Buying and Selling at Qorvo

In other Qorvo news, SVP Paul J. Fego sold 2,500 shares of the company’s 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 in the company, valued at approximately $7,103,800. This represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert A. Bruggeworth sold 57,957 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $100.40, for a total transaction of $5,818,882.80. Following the transaction, the chief executive officer owned 319,880 shares in the company, valued at approximately $32,115,952. The trade was a 15.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,966,127 shares of company stock worth $198,911,103. Corporate insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

QRVO has been the topic of a number of research reports. Barclays upgraded shares of Qorvo from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $95.00 to $100.00 in a research report on Wednesday, April 22nd. Citigroup boosted their target price on shares of Qorvo from $90.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Qorvo in a research report on Monday, April 27th. Craig Hallum reiterated a “buy” rating and set a $120.00 target price on shares of Qorvo in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Three equities research 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 MarketBeat, the company has an average rating of “Hold” and a consensus 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.