Aigen Investment Management LP Buys Shares of 6,777 Qorvo, Inc. $QRVO

Aigen Investment Management LP bought a new position in Qorvo, Inc. (NASDAQ:QRVO) during the fourth quarter, Holdings Channel.com reports. The fund bought 6,777 shares of the semiconductor company’s stock, valued at approximately $573,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased 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 worth $1,011,453,000 after acquiring an additional 100,058 shares in the last quarter. State Street Corp grew its position in Qorvo by 5.0% during 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 in the last quarter. Dimensional Fund Advisors LP grew its position in Qorvo by 8.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,869,834 shares of the semiconductor company’s stock valued at $158,027,000 after purchasing an additional 142,731 shares in the last quarter. LSV Asset Management grew its position in Qorvo by 2.3% during the fourth quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock valued at $131,452,000 after purchasing an additional 34,605 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Qorvo by 20.2% in the second quarter. Bank of America Corp DE now owns 1,518,964 shares of the semiconductor company’s stock valued at $128,975,000 after acquiring an additional 255,068 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors.

Insider Activity at Qorvo

In other Qorvo news, Director Peter A. Feld sold 1,900,000 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $101.20, for a total transaction of $192,280,000.00. Following the sale, the director owned 5,611,526 shares of the company’s stock, valued at $567,886,431.20. This represents a 25.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Gina Harrison sold 4,714 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $100.00, for a total transaction of $471,400.00. Following the sale, the vice president directly owned 24,429 shares in the company, valued at approximately $2,442,900. This represents a 16.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,966,127 shares of company stock worth $198,911,103 in the last quarter. Insiders own 0.41% of the company’s stock.

Qorvo Stock Up 2.7%

Shares of NASDAQ:QRVO opened at $101.28 on Tuesday. Qorvo, Inc. has a 12 month low of $74.92 and a 12 month high of $109.49. The company’s 50-day moving average price is $91.95 and its two-hundred day moving average price is $85.90. 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 firm has a market cap of $8.91 billion, a P/E ratio of 27.98, a P/E/G ratio of 1.54 and a beta of 1.43.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.69 EPS for the quarter, topping 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 quarter in the prior year, the firm earned $1.42 EPS. The company’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. As a group, research analysts forecast that Qorvo, Inc. will post 5.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Qorvo in a research note on Monday, April 27th. JPMorgan Chase & Co. boosted their price target on shares of Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Citigroup upped their target price on shares of Qorvo from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Zacks Research lowered shares of Qorvo from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Finally, Mizuho reaffirmed an “underperform” rating and issued a $66.00 target price (down from $70.00) on shares of Qorvo in a report on Monday, April 20th. Three analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $96.63.

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.