Qorvo, Inc. $QRVO Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 16.7% during the first quarter, HoldingsChannel.com reports. The fund owned 2,181,479 shares of the semiconductor company’s stock after purchasing an additional 311,645 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Qorvo were worth $168,842,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Fred Alger Management LLC increased its stake in shares of Qorvo by 5.3% in the third quarter. Fred Alger Management LLC now owns 3,179 shares of the semiconductor company’s stock valued at $290,000 after purchasing an additional 160 shares during the period. Beacon Investment Advisory Services Inc. boosted its position in shares of Qorvo by 5.7% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 3,001 shares of the semiconductor company’s stock worth $254,000 after buying an additional 161 shares during the period. Fifth Third Wealth Advisors LLC grew its holdings in Qorvo by 4.4% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,955 shares of the semiconductor company’s stock worth $306,000 after buying an additional 167 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings in Qorvo by 60.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company’s stock worth $41,000 after buying an additional 180 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings in Qorvo by 14.6% in the 4th quarter. Larson Financial Group LLC now owns 1,483 shares of the semiconductor company’s stock worth $125,000 after buying an additional 189 shares in the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Qorvo

In other news, VP Gina Harrison sold 4,714 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was 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 filing with the SEC, which is available through this link. Also, Director Peter A. Feld sold 1,900,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were 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 of the company’s stock, valued at approximately $567,886,431.20. This trade represents a 25.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,966,127 shares of company stock worth $198,911,103 over the last 90 days. 0.49% of the stock is currently owned by corporate insiders.

Qorvo Price Performance

NASDAQ QRVO opened at $86.51 on Friday. Qorvo, Inc. has a 12 month low of $74.92 and a 12 month high of $109.49. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.24 and a quick ratio of 2.46. The firm has a market capitalization of $7.63 billion, a PE ratio of 23.90, a P/E/G ratio of 1.36 and a beta of 1.44. The company’s 50 day simple moving average is $94.67 and its 200 day simple moving average is $86.58.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.21 by $0.48. The firm had revenue of $808.28 million for the quarter, compared to analysts’ expectations of $801.31 million. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.42 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, equities research analysts forecast that Qorvo, Inc. will post 5.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

QRVO has been the topic of several recent analyst reports. Mizuho reaffirmed an “underperform” rating and set a $66.00 target price (down from $70.00) on shares of Qorvo in a research note on Monday, April 20th. Craig Hallum reissued a “buy” rating and issued a $120.00 price target on shares of Qorvo in a research note on Wednesday, May 6th. Barclays raised Qorvo from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $95.00 to $100.00 in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. raised their price target on Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a research note on Monday, April 27th. Three investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $97.07.

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.