309,000 Shares in Qorvo, Inc. $QRVO Purchased by Empyrean Capital Partners LP

Empyrean Capital Partners LP bought a new position in Qorvo, Inc. (NASDAQ:QRVO) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 309,000 shares of the semiconductor company’s stock, valued at approximately $26,114,000. Empyrean Capital Partners LP owned about 0.33% of Qorvo as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Jones Financial Companies Lllp grew its position in Qorvo by 440.1% in the 1st quarter. Jones Financial Companies Lllp now owns 8,134 shares of the semiconductor company’s stock worth $589,000 after purchasing an additional 6,628 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 buying an additional 1,301 shares during the last quarter. First Trust Advisors LP increased its holdings in Qorvo by 56.5% during the second 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 during the last quarter. Marshall Wace LLP bought a new stake in shares of Qorvo during the 2nd quarter valued at $428,000. Finally, Cerity Partners LLC bought a new stake in shares of Qorvo during the 2nd quarter valued at $327,000. Institutional investors own 88.57% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on QRVO shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qorvo in a research note on Monday, April 27th. JPMorgan Chase & Co. upped their price target on shares of Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Citigroup raised their price objective 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. Craig Hallum restated a “buy” rating and set a $120.00 target price on shares of Qorvo in a research note on Wednesday, May 6th. Finally, Wolfe Research downgraded shares of Qorvo from an “outperform” rating to a “peer perform” rating in a report on Friday, April 17th. Three investment 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 data from MarketBeat, Qorvo currently has a consensus rating of “Hold” and an average target price of $96.63.

Qorvo Price Performance

QRVO stock opened at $94.65 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. The company’s fifty day moving average price is $92.61 and its 200-day moving average price is $86.04. Qorvo, Inc. has a one year low of $74.92 and a one year high of $109.49. The company has a market capitalization of $8.33 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 1.51 and a beta of 1.43.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share 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 during the quarter, compared to analysts’ expectations of $801.31 million. During the same period last year, the company posted $1.42 earnings per share. Qorvo’s quarterly 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, equities analysts anticipate that Qorvo, Inc. will post 5.87 EPS for the current fiscal year.

Insider Transactions at Qorvo

In related news, CEO Robert A. Bruggeworth sold 57,957 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $100.40, for a total value of $5,818,882.80. Following the sale, the chief executive officer directly owned 319,880 shares in the company, valued at approximately $32,115,952. The trade was a 15.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Gina Harrison sold 4,714 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $471,400.00. Following the transaction, the vice president owned 24,429 shares of the company’s stock, valued at $2,442,900. This represents a 16.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,966,127 shares of company stock valued at $198,911,103 over the last three months. Corporate insiders own 0.41% of the company’s stock.

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.