Thrivent Financial for Lutherans Has $4.88 Million Position in Qorvo, Inc. $QRVO

Thrivent Financial for Lutherans reduced its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 95.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 57,776 shares of the semiconductor company’s stock after selling 1,285,667 shares during the quarter. Thrivent Financial for Lutherans owned about 0.06% of Qorvo worth $4,883,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Qorvo by 0.9% in the third quarter. Vanguard Group Inc. now owns 11,105,104 shares of the semiconductor company’s stock valued at $1,011,453,000 after purchasing an additional 100,058 shares during the last quarter. State Street Corp grew its position in shares of Qorvo by 5.0% in the second quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company’s stock valued at $314,516,000 after purchasing an additional 175,031 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Qorvo by 16.4% in the third quarter. Dimensional Fund Advisors LP now owns 1,727,103 shares of the semiconductor company’s stock valued at $157,298,000 after purchasing an additional 243,147 shares during the last quarter. LSV Asset Management grew its position in shares of Qorvo by 10.0% in the third quarter. LSV Asset Management now owns 1,520,856 shares of the semiconductor company’s stock valued at $138,520,000 after purchasing an additional 137,886 shares during the last quarter. Finally, Bank of America Corp DE grew its position in 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 buying an additional 255,068 shares in the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Qorvo Stock Down 1.1%

Shares of QRVO opened at $97.74 on Friday. The stock has a market cap of $8.60 billion, a price-to-earnings ratio of 27.00, a P/E/G ratio of 1.54 and a beta of 1.42. 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 12 month low of $73.00 and a 12 month high of $106.30. The company has a 50-day moving average price of $83.87 and a two-hundred day moving average price of $83.89.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.48. The firm had revenue of $808.28 million during the quarter, compared to analysts’ expectations of $801.31 million. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.42 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Equities analysts predict that Qorvo, Inc. will post 5.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on QRVO. Mizuho reissued an “underperform” rating and set a $66.00 target price (down from $70.00) on shares of Qorvo in a research report on Monday, April 20th. Benchmark reissued a “hold” rating on shares of Qorvo in a research report on Wednesday, January 28th. TD Cowen decreased their target price on Qorvo from $95.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, January 28th. Wolfe Research downgraded Qorvo from an “outperform” rating to a “peer perform” rating in a research report on Friday, April 17th. Finally, Barclays raised Qorvo from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $95.00 to $100.00 in a research report on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $96.63.

Insider Buying and Selling

In other Qorvo news, VP Gina Harrison sold 956 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $95.00, for a total transaction of $90,820.00. Following the completion of the transaction, the vice president owned 29,143 shares in the company, valued at $2,768,585. This trade represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.41% of the stock is currently owned by corporate insiders.

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.