Handelsbanken Fonder AB Acquires 99,003 Shares of Qorvo, Inc. $QRVO

Handelsbanken Fonder AB grew its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 59.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 266,586 shares of the semiconductor company’s stock after buying an additional 99,003 shares during the period. Handelsbanken Fonder AB owned approximately 0.29% of Qorvo worth $22,529,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Qorvo by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 11,105,104 shares of the semiconductor company’s stock worth $1,011,453,000 after buying an additional 100,058 shares in the last quarter. State Street Corp boosted its holdings in shares of Qorvo by 5.0% during the 2nd quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company’s stock worth $314,516,000 after buying an additional 175,031 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Qorvo by 16.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,727,103 shares of the semiconductor company’s stock worth $157,298,000 after buying an additional 243,147 shares in the last quarter. LSV Asset Management boosted its holdings in shares of Qorvo by 10.0% during the 3rd quarter. LSV Asset Management now owns 1,520,856 shares of the semiconductor company’s stock worth $138,520,000 after buying an additional 137,886 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Qorvo by 20.2% during the second quarter. Bank of America Corp DE now owns 1,518,964 shares of the semiconductor company’s stock worth $128,975,000 after purchasing an additional 255,068 shares during the period. 88.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on QRVO. Citigroup upped their target price on Qorvo from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Craig Hallum reaffirmed a “buy” rating and set a $120.00 target price on shares of Qorvo in a research report on Wednesday, May 6th. UBS Group upped their target price on Qorvo from $87.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Benchmark reaffirmed a “hold” rating on shares of Qorvo in a research report on Wednesday, January 28th. Finally, Morgan Stanley set a $84.00 target price on Qorvo in a research report on Wednesday, January 28th. Three investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Qorvo presently has a consensus rating of “Hold” and an average target price of $96.63.

Insider Buying and Selling

In related news, VP Gina Harrison sold 956 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $95.00, for a total value of $90,820.00. Following the completion of the sale, the vice president directly owned 29,143 shares of the company’s stock, valued at approximately $2,768,585. This represents a 3.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.41% of the company’s stock.

Qorvo Trading Up 4.5%

NASDAQ QRVO opened at $98.78 on Thursday. The firm has a market capitalization of $8.69 billion, a P/E ratio of 27.29, a PEG ratio of 1.48 and a beta of 1.42. The business has a fifty day simple moving average of $83.48 and a 200 day simple moving average of $83.87. Qorvo, Inc. has a 12 month low of $73.00 and a 12 month high of $106.30. The company has a current ratio of 3.24, a quick ratio of 2.46 and a debt-to-equity ratio of 0.46.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.48. The business had revenue of $808.28 million during the quarter, compared to analyst estimates of $801.31 million. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.Qorvo’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.42 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, analysts predict that Qorvo, Inc. will post 5.85 EPS for the current fiscal year.

About Qorvo

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.