Janney Montgomery Scott LLC Cuts Position in Qorvo, Inc. $QRVO

Janney Montgomery Scott LLC decreased its position in Qorvo, Inc. (NASDAQ:QRVO) by 57.5% during the 1st quarter, Holdings Channel reports. The fund owned 5,122 shares of the semiconductor company’s stock after selling 6,920 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Qorvo were worth $396,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in QRVO. Stance Capital LLC acquired a new position in Qorvo during the 3rd quarter worth approximately $27,000. Smartleaf Asset Management LLC raised its holdings 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 valued at $29,000 after purchasing an additional 231 shares in the last quarter. Sound Income Strategies LLC raised its holdings in shares of Qorvo by 952.8% in the 4th quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 343 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Qorvo during the 3rd quarter worth $36,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Qorvo during the 4th quarter worth $39,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Insider Buying and Selling at Qorvo

In other Qorvo news, Director Peter A. Feld sold 1,900,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $101.20, for a total transaction of $192,280,000.00. Following the transaction, the director directly owned 5,611,526 shares of the company’s stock, valued at approximately $567,886,431.20. This trade represents a 25.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Gina Harrison sold 4,714 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was 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 $2,442,900. The trade was a 16.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 1,966,127 shares of company stock valued at $198,911,103. Insiders own 0.49% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on QRVO shares. UBS Group increased their target price on Qorvo from $87.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Citigroup lifted their price target on Qorvo from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Wolfe Research cut Qorvo from an “outperform” rating to a “peer perform” rating in a research report on Friday, April 17th. Wall Street Zen upgraded Qorvo from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Qorvo in a research report on Monday, April 27th. Three research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Qorvo currently has an average rating of “Hold” and a consensus price target of $97.07.

Qorvo Trading Up 0.1%

NASDAQ:QRVO opened at $83.50 on Friday. The stock’s 50 day moving average price is $95.17 and its 200 day moving average price is $86.51. The company has a market capitalization of $7.37 billion, a PE ratio of 23.07, a P/E/G ratio of 1.31 and a beta of 1.44. The company has a quick ratio of 2.46, a current ratio of 3.24 and a debt-to-equity ratio of 0.46. Qorvo, Inc. has a 52-week low of $74.92 and a 52-week high of $109.49.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.21 by $0.48. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.The company had revenue of $808.28 million for the quarter, compared to analyst estimates of $801.31 million. During the same quarter in the previous year, the company posted $1.42 earnings per share. The firm’s 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. On average, research analysts anticipate that Qorvo, Inc. will post 5.84 EPS for the current year.

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.