AlphaQuest LLC Has $2.91 Million Stock Position in Qorvo, Inc. $QRVO

AlphaQuest LLC raised its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 298.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 34,477 shares of the semiconductor company’s stock after acquiring an additional 25,824 shares during the quarter. AlphaQuest LLC’s holdings in Qorvo were worth $2,914,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QRVO. Winnow Wealth LLC acquired a new stake in shares of Qorvo during the third quarter worth $27,000. Stance Capital LLC acquired a new stake in shares of Qorvo during the third quarter worth $27,000. Sound Income Strategies LLC increased its position in shares of Qorvo by 952.8% during the fourth quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock worth $30,000 after buying an additional 343 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Qorvo during the third quarter worth $36,000. Finally, Clearstead Advisors LLC increased its position in shares of Qorvo by 93.3% during the third quarter. Clearstead Advisors LLC now owns 431 shares of the semiconductor company’s stock worth $39,000 after buying an additional 208 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

QRVO has been the subject of several recent analyst reports. Benchmark reiterated a “hold” rating on shares of Qorvo in a research report on Wednesday, January 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Qorvo in a research note on Monday, April 27th. Citigroup increased their target price 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. Morgan Stanley set a $84.00 target price on shares of Qorvo in a research note on Wednesday, January 28th. Finally, KeyCorp reissued a “sector weight” rating on shares of Qorvo in a research note on Wednesday, January 28th. Three equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $96.63.

Qorvo Stock Up 1.7%

Qorvo stock opened at $108.23 on Wednesday. Qorvo, Inc. has a 1-year low of $74.03 and a 1-year high of $109.03. The firm has a market capitalization of $9.53 billion, a price-to-earnings ratio of 29.90, a price-to-earnings-growth ratio of 1.66 and a beta of 1.42. The firm’s fifty day moving average price is $85.58 and its two-hundred day moving average price is $84.24. 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 data on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.48. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The firm had revenue of $808.28 million for the quarter, compared to analyst estimates of $801.31 million. During the same period last year, the firm earned $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. On average, equities research analysts predict that Qorvo, Inc. will post 5.87 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Gina Harrison sold 4,714 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $471,400.00. Following the completion of the sale, the vice president owned 24,429 shares in the company, valued at $2,442,900. This represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Paul J. Fego sold 2,500 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the sale, the senior vice president owned 71,038 shares of the company’s stock, valued at approximately $7,103,800. This represents a 3.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 8,170 shares of company stock valued at $812,220. 0.41% of the stock is currently owned by corporate insiders.

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.