Qorvo, Inc. $QRVO Shares Bought by Corient Private Wealth LLC

Corient Private Wealth LLC raised its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 102.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 20,990 shares of the semiconductor company’s stock after buying an additional 10,601 shares during the period. Corient Private Wealth LLC’s holdings in Qorvo were worth $1,777,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Stance Capital LLC purchased a new stake in Qorvo in the 3rd quarter worth approximately $27,000. Smartleaf Asset Management LLC grew its stake in shares of Qorvo by 215.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 231 shares during the period. Sound Income Strategies LLC increased its holdings in shares of Qorvo by 952.8% during the 4th quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 343 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Qorvo during the 3rd quarter valued at approximately $36,000. Finally, Clearstead Advisors LLC lifted its stake in shares of Qorvo by 93.3% in the 3rd quarter. Clearstead Advisors LLC now owns 431 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 208 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Insider Activity at Qorvo

In related news, SVP Paul J. Fego sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the transaction, the senior vice president directly owned 71,038 shares of the company’s stock, valued at approximately $7,103,800. This trade represents a 3.40% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter A. Feld sold 1,900,000 shares of Qorvo stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $101.20, for a total value of $192,280,000.00. Following the completion of the sale, the director owned 5,611,526 shares in the company, valued at approximately $567,886,431.20. The trade was a 25.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,966,127 shares of company stock worth $198,911,103 in the last quarter. Company insiders own 0.41% of the company’s stock.

Qorvo Price Performance

Shares of NASDAQ QRVO opened at $93.54 on Tuesday. The firm has a market cap of $8.23 billion, a PE ratio of 25.84, a PEG ratio of 1.47 and a beta of 1.43. The firm has a fifty day moving average of $95.37 and a 200 day moving average of $86.54. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.46 and a current ratio of 3.24. Qorvo, Inc. has a one year low of $74.92 and a one year high of $109.49.

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, beating the consensus estimate of $1.21 by $0.48. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The business had revenue of $808.28 million for the quarter, compared to the consensus estimate of $801.31 million. During the same period last year, the firm posted $1.42 earnings per share. The company’s 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. As a group, research analysts predict that Qorvo, Inc. will post 5.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

QRVO has been the topic of a number of recent analyst reports. Zacks Research downgraded shares of Qorvo from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Craig Hallum reiterated a “buy” rating and issued a $120.00 price objective on shares of Qorvo in a research report on Wednesday, May 6th. JPMorgan Chase & Co. upped their price objective on shares of Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. UBS Group increased their target price 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, Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a research report on Monday, April 27th. Three 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. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $96.62.

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.