Credit Industriel ET Commercial Has $4.25 Million Stake in Qorvo, Inc. $QRVO

Credit Industriel ET Commercial reduced its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 11.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,845 shares of the semiconductor company’s stock after selling 6,955 shares during the quarter. Credit Industriel ET Commercial owned 0.06% of Qorvo worth $4,245,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. AQR Arbitrage LLC acquired a new position in shares of Qorvo in the 4th quarter valued at approximately $118,204,000. Norges Bank acquired a new stake in Qorvo during the 4th quarter worth approximately $92,430,000. Marshall Wace LLP raised its holdings in Qorvo by 16,066.5% during the 3rd quarter. Marshall Wace LLP now owns 814,630 shares of the semiconductor company’s stock worth $74,197,000 after buying an additional 809,591 shares during the period. Balyasny Asset Management L.P. bought a new position in Qorvo in the third quarter valued at approximately $66,594,000. Finally, Dorsal Capital Management LP boosted its holdings in shares of Qorvo by 146.9% in the third quarter. Dorsal Capital Management LP now owns 1,000,000 shares of the semiconductor company’s stock valued at $91,080,000 after buying an additional 595,000 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Insider Buying and Selling at Qorvo

In related news, VP Gina Harrison sold 4,714 shares of the company’s 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 owned 24,429 shares in the company, valued at approximately $2,442,900. This represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Paul J. Fego sold 2,500 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $100.00, for a total value of $250,000.00. Following the sale, the senior vice president owned 71,038 shares in the company, 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. In the last quarter, insiders have sold 1,966,127 shares of company stock valued at $198,911,103. Corporate insiders own 0.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on QRVO shares. JPMorgan Chase & Co. increased 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. Barclays raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $95.00 to $100.00 in a research note on Wednesday, April 22nd. Wolfe Research cut Qorvo from an “outperform” rating to a “peer perform” rating in a report on Friday, April 17th. Citigroup lifted their price target on Qorvo from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Zacks Research cut Qorvo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 16th. Three equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $96.62.

Qorvo Stock Performance

Shares of QRVO opened at $86.63 on Tuesday. Qorvo, Inc. has a 12 month low of $74.92 and a 12 month high of $109.49. The firm has a fifty day simple moving average of $95.96 and a 200 day simple moving average of $86.58. The stock has a market capitalization of $7.64 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 1.37 and a beta of 1.44. 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 earnings results 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 business had revenue of $808.28 million during the quarter, compared to the consensus estimate of $801.31 million. During the same quarter last year, the firm earned $1.42 earnings per share. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Research analysts forecast that Qorvo, Inc. will post 5.84 EPS for the current fiscal 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.