Legal & General Group Plc Sells 44,125 Shares of Qorvo, Inc. $QRVO

Legal & General Group Plc decreased its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 16.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 227,154 shares of the semiconductor company’s stock after selling 44,125 shares during the period. Legal & General Group Plc owned 0.25% of Qorvo worth $19,197,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of QRVO. Stance Capital LLC acquired a new stake in Qorvo in the 3rd quarter worth about $27,000. Sound Income Strategies LLC raised its stake in Qorvo by 952.8% in the 4th quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 343 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Qorvo in the 3rd quarter worth about $36,000. Clearstead Advisors LLC raised its stake in Qorvo by 93.3% in the 3rd quarter. Clearstead Advisors LLC now owns 431 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 208 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in Qorvo in the 4th quarter worth about $39,000. 88.57% of the stock is owned by institutional investors.

Analysts Set New Price Targets

QRVO has been the subject of several analyst reports. Barclays upgraded shares of Qorvo from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $95.00 to $100.00 in a research note on Wednesday, April 22nd. Citigroup lifted their price objective on shares of Qorvo from $90.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. lifted their price objective 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. UBS Group lifted their price objective on shares of Qorvo from $87.00 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 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $96.63.

Insider Buying and Selling at Qorvo

In other news, VP Gina Harrison sold 4,714 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total transaction of $471,400.00. Following the completion of the transaction, the vice president 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 accessible through the SEC website. Also, SVP Paul J. Fego sold 2,500 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the transaction, the senior vice president directly owned 71,038 shares of the company’s stock, valued at $7,103,800. The trade was a 3.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,170 shares of company stock valued at $812,220 in the last ninety days. Insiders own 0.41% of the company’s stock.

Qorvo Stock Performance

NASDAQ:QRVO opened at $99.97 on Tuesday. The stock has a market cap of $8.80 billion, a P/E ratio of 27.62, a price-to-earnings-growth ratio of 1.62 and a beta of 1.42. The company has a current ratio of 3.24, a quick ratio of 2.46 and a debt-to-equity ratio of 0.46. The stock’s 50-day moving average is $87.63 and its 200-day moving average is $84.71. Qorvo, Inc. has a 1-year low of $74.77 and a 1-year high of $109.49.

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

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.