EP Wealth Advisors LLC Invests $848,000 in Qorvo, Inc. $QRVO

EP Wealth Advisors LLC bought a new stake in Qorvo, Inc. (NASDAQ:QRVO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,087 shares of the semiconductor company’s stock, valued at approximately $848,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bank of America Corp DE boosted its stake in shares of Qorvo by 801.4% in the first quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company’s stock valued at $136,795,000 after buying an additional 1,571,303 shares during the period. LSV Asset Management increased its stake in Qorvo by 2.3% during the 4th quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock worth $131,452,000 after acquiring an additional 34,605 shares during the period. Credit Industriel ET Commercial acquired a new position in Qorvo in the 4th quarter valued at $5,223,000. Fieldview Capital Management LLC raised its holdings in Qorvo by 570.1% in the 4th quarter. Fieldview Capital Management LLC now owns 24,352 shares of the semiconductor company’s stock valued at $2,058,000 after acquiring an additional 20,718 shares in the last quarter. Finally, Amundi lifted its position in shares of Qorvo by 197.2% during the 1st quarter. Amundi now owns 772,352 shares of the semiconductor company’s stock valued at $59,780,000 after acquiring an additional 512,475 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on QRVO. UBS Group raised their price target on Qorvo from $91.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Wall Street Zen raised shares of Qorvo from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. Citigroup reduced their price objective on shares of Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. JPMorgan Chase & Co. raised their target price on shares of Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Craig Hallum reissued a “buy” rating and issued a $120.00 target price on shares of Qorvo in a report on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Qorvo currently has an average rating of “Hold” and a consensus target price of $94.00.

Qorvo Stock Performance

Shares of QRVO stock opened at $95.56 on Monday. The stock’s fifty day moving average price is $92.19 and its two-hundred day moving average price is $88.52. The company has a market cap of $8.43 billion, a PE ratio of 22.17, a P/E/G ratio of 1.39 and a beta of 1.44. Qorvo, Inc. has a fifty-two week low of $74.92 and a fifty-two week high of $109.49. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.68 and a current ratio of 3.54.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.53. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The company had revenue of $784.79 million for the quarter, compared to analyst estimates of $743.28 million. During the same quarter last year, the company posted $0.92 EPS. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Equities analysts predict that Qorvo, Inc. will post 6.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Grant Brown sold 5,179 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $97.50, for a total value of $504,952.50. Following the completion of the transaction, the chief financial officer owned 49,268 shares of the company’s stock, valued at approximately $4,803,630. This represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter A. Feld sold 1,900,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director owned 5,611,526 shares in the company, valued at approximately $567,886,431.20. The trade was a 25.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,968,623 shares of company stock worth $199,138,818. Insiders own 0.49% of the company’s stock.

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.