New Age Alpha Advisors LLC Lowers Position in Qorvo, Inc. $QRVO

New Age Alpha Advisors LLC lowered its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 43.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 7,399 shares of the semiconductor company’s stock after selling 5,578 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Qorvo were worth $625,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Qorvo by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 11,105,104 shares of the semiconductor company’s stock valued at $1,011,453,000 after acquiring an additional 100,058 shares in the last quarter. State Street Corp raised its holdings in shares of Qorvo by 5.0% in the 2nd quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company’s stock valued at $314,516,000 after acquiring an additional 175,031 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Qorvo by 16.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,727,103 shares of the semiconductor company’s stock valued at $157,298,000 after buying an additional 243,147 shares in the last quarter. LSV Asset Management raised its holdings in shares of Qorvo by 2.3% during the 4th quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock valued at $131,452,000 after buying an additional 34,605 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Qorvo by 20.2% during the 2nd quarter. Bank of America Corp DE now owns 1,518,964 shares of the semiconductor company’s stock valued at $128,975,000 after buying an additional 255,068 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on QRVO shares. Zacks Research cut Qorvo from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. JPMorgan Chase & Co. raised their price objective on Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Barclays raised Qorvo from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $95.00 to $100.00 in a report on Wednesday, April 22nd. Wolfe Research cut Qorvo from an “outperform” rating to a “peer perform” rating in a report on Friday, April 17th. Finally, Mizuho reissued an “underperform” rating and set a $66.00 price objective (down from $70.00) on shares of Qorvo in a report on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Qorvo presently has an average rating of “Hold” and an average target price of $96.63.

Insider Buying and Selling

In other Qorvo news, VP Gina Harrison sold 4,714 shares of Qorvo stock in a transaction that occurred 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 transaction, the vice president directly owned 24,429 shares of the company’s stock, valued at $2,442,900. The trade was a 16.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Paul J. Fego sold 2,500 shares of Qorvo stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the transaction, the senior vice president directly owned 71,038 shares in the company, valued at $7,103,800. This trade represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 8,170 shares of company stock worth $812,220 over the last ninety days. Insiders own 0.41% of the company’s stock.

Qorvo Price Performance

Shares of Qorvo stock opened at $106.42 on Friday. 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 business’s 50 day simple moving average is $86.66 and its two-hundred day simple moving average is $84.50. The stock has a market capitalization of $9.37 billion, a P/E ratio of 29.40, a price-to-earnings-growth ratio of 1.62 and a beta of 1.42. Qorvo, Inc. has a one year low of $74.03 and a one year high of $109.49.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.48. The business 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 business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.42 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Analysts forecast that Qorvo, Inc. will post 5.87 EPS for the current 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.