Mint Tower Capital Management B.V. Purchases New Shares in Qorvo, Inc. $QRVO

Mint Tower Capital Management B.V. purchased a new stake in Qorvo, Inc. (NASDAQ:QRVO) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 10,000 shares of the semiconductor company’s stock, valued at approximately $845,000.

A number of other institutional investors have also recently added to or reduced their stakes in QRVO. Fred Alger Management LLC grew its stake in Qorvo by 5.3% in the 3rd quarter. Fred Alger Management LLC now owns 3,179 shares of the semiconductor company’s stock valued at $290,000 after acquiring an additional 160 shares during the last quarter. Beacon Investment Advisory Services Inc. grew its holdings in Qorvo by 5.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 3,001 shares of the semiconductor company’s stock valued at $254,000 after buying an additional 161 shares during the last quarter. Larson Financial Group LLC grew its holdings in Qorvo by 14.6% during the 4th quarter. Larson Financial Group LLC now owns 1,483 shares of the semiconductor company’s stock valued at $125,000 after buying an additional 189 shares during the last quarter. Lido Advisors LLC grew its holdings in Qorvo by 4.1% during the 4th quarter. Lido Advisors LLC now owns 4,816 shares of the semiconductor company’s stock valued at $431,000 after buying an additional 191 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC grew its holdings in Qorvo by 0.3% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 62,938 shares of the semiconductor company’s stock valued at $5,479,000 after buying an additional 194 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Price Performance

QRVO stock opened at $97.66 on Friday. Qorvo, Inc. has a 52-week low of $74.92 and a 52-week high of $109.49. The stock’s fifty day simple moving average is $91.07 and its 200-day simple moving average is $85.67. The company has a quick ratio of 2.46, a current ratio of 3.24 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $8.60 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 1.48 and a beta of 1.43.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share (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 business had revenue of $808.28 million for the quarter, compared to analysts’ expectations of $801.31 million. During the same quarter last year, the firm earned $1.42 earnings per share. The business’s revenue was down 7.0% on a year-over-year basis. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Equities research analysts expect that Qorvo, Inc. will post 5.87 EPS for the current year.

Insiders Place Their Bets

In related news, VP Gina Harrison sold 4,714 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $471,400.00. Following the sale, the vice president directly owned 24,429 shares of the company’s stock, valued at approximately $2,442,900. This trade represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock was 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 directly owned 5,611,526 shares in the company, valued at $567,886,431.20. This represents a 25.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,966,127 shares of company stock worth $198,911,103 over the last ninety days. Company insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Qorvo in a report on Monday, April 27th. Craig Hallum reiterated a “buy” rating and set a $120.00 target price on shares of Qorvo in a report on Wednesday, May 6th. 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. JPMorgan Chase & Co. raised their price target on shares of Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Finally, Wolfe Research cut shares of Qorvo from an “outperform” rating to a “peer perform” rating in a research note on Friday, April 17th. Three research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $96.63.

Qorvo 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.