Qorvo, Inc. $QRVO Shares Sold by Headlands Technologies LLC

Headlands Technologies LLC lowered its stake in Qorvo, Inc. (NASDAQ:QRVO) by 54.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,891 shares of the semiconductor company’s stock after selling 6,924 shares during the quarter. Headlands Technologies LLC’s holdings in Qorvo were worth $549,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Fred Alger Management LLC raised its holdings in shares of Qorvo by 5.3% in the third quarter. Fred Alger Management LLC now owns 3,179 shares of the semiconductor company’s stock worth $290,000 after acquiring an additional 160 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in shares of Qorvo by 4.4% during the first quarter. Fifth Third Wealth Advisors LLC now owns 3,955 shares of the semiconductor company’s stock valued at $306,000 after acquiring an additional 167 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in shares of Qorvo by 60.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 180 shares during the last quarter. Larson Financial Group LLC increased its position in Qorvo by 14.6% during the 4th quarter. Larson Financial Group LLC now owns 1,483 shares of the semiconductor company’s stock worth $125,000 after purchasing an additional 189 shares in the last quarter. Finally, Lido Advisors LLC increased its position in Qorvo by 4.1% during the 4th quarter. Lido Advisors LLC now owns 4,816 shares of the semiconductor company’s stock worth $431,000 after purchasing an additional 191 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on QRVO. TD Cowen reissued a “hold” rating on shares of Qorvo in a research note on Wednesday, July 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qorvo in a research note on Friday, July 24th. UBS Group lifted their price target on shares of Qorvo from $91.00 to $96.00 and gave the stock a “buy” rating in a 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $94.00.

Qorvo Stock Performance

Qorvo stock opened at $100.63 on Thursday. The firm has a market capitalization of $8.88 billion, a P/E ratio of 23.35, a PEG ratio of 1.70 and a beta of 1.45. The stock has a fifty day moving average price of $91.81 and a 200 day moving average price of $89.27. Qorvo, Inc. has a 52 week low of $74.92 and a 52 week high of $109.49. The company has a current ratio of 3.54, a quick ratio of 2.68 and a debt-to-equity ratio of 0.45.

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, topping analysts’ consensus estimates of $1.11 by $0.53. The firm had revenue of $784.79 million for the quarter, compared to analyst estimates of $743.28 million. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the company earned $0.92 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Equities research analysts anticipate that Qorvo, Inc. will post 6.3 earnings per share for the current year.

Insider Transactions at Qorvo

In related news, SVP Philip Chesley sold 5,487 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $97.50, for a total transaction of $534,982.50. Following the completion of the transaction, the senior vice president owned 44,021 shares of the company’s stock, valued at approximately $4,292,047.50. This represents a 11.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Frank P. Stewart sold 8,279 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $94.72, for a total transaction of $784,186.88. Following the transaction, the senior vice president directly owned 43,069 shares of the company’s stock, valued at $4,079,495.68. This trade represents a 16.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,945 shares of company stock worth $1,824,122 in the last three months. Company 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.