Sei Investments Co. Has $7.21 Million Stake in Qorvo, Inc. $QRVO

Sei Investments Co. grew its position in Qorvo, Inc. (NASDAQ:QRVO) by 13.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,188 shares of the semiconductor company’s stock after acquiring an additional 10,771 shares during the period. Sei Investments Co. owned 0.11% of Qorvo worth $7,212,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. LSV Asset Management boosted its stake in Qorvo by 2.3% in the fourth quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock worth $131,452,000 after purchasing an additional 34,605 shares in the last quarter. M&T Bank Corp grew its holdings in Qorvo by 3,397.3% during the 4th quarter. M&T Bank Corp now owns 150,173 shares of the semiconductor company’s stock worth $12,691,000 after acquiring an additional 145,879 shares during the last quarter. Fieldview Capital Management LLC grew its holdings in Qorvo by 570.1% during the 4th quarter. Fieldview Capital Management LLC now owns 24,352 shares of the semiconductor company’s stock worth $2,058,000 after acquiring an additional 20,718 shares during the last quarter. Credit Industriel ET Commercial bought a new stake in Qorvo during the 4th quarter worth about $5,223,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in Qorvo by 241.0% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 20,417 shares of the semiconductor company’s stock valued at $1,725,000 after acquiring an additional 14,429 shares in the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Qorvo Stock Performance

QRVO opened at $90.57 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.54 and a quick ratio of 2.68. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 1.41 and a beta of 1.44. The firm has a 50 day simple moving average of $93.88 and a 200 day simple moving average of $86.84. Qorvo, Inc. has a fifty-two week low of $74.92 and a fifty-two week high of $109.49.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.53. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. The business had revenue of $784.79 million for the quarter, compared to analyst estimates of $743.28 million. During the same period in the prior year, the business posted $0.92 earnings per share. Qorvo’s revenue was down 4.2% compared to the same quarter last year. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, sell-side analysts anticipate that Qorvo, Inc. will post 5.87 earnings per share for the current year.

Insider Buying and Selling at Qorvo

In related news, Director Peter A. Feld sold 1,900,000 shares of Qorvo stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $101.20, for a total transaction of $192,280,000.00. Following the completion of the sale, the director directly owned 5,611,526 shares of the company’s stock, valued at $567,886,431.20. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Paul J. Fego sold 2,500 shares of Qorvo stock in a transaction 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 sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,966,127 shares of company stock worth $198,911,103. 0.49% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wall Street Zen raised shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Sunday. Barclays upgraded shares of Qorvo from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $95.00 to $100.00 in a research report on Wednesday, April 22nd. TD Cowen reaffirmed a “hold” rating on shares of Qorvo in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Finally, Craig Hallum reissued a “buy” rating and issued a $120.00 target price on shares of Qorvo in a research note on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $94.00.

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.