Pacer Advisors Inc. Purchases 232,851 Shares of Qorvo, Inc. $QRVO

Pacer Advisors Inc. raised its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 286.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 314,053 shares of the semiconductor company’s stock after acquiring an additional 232,851 shares during the quarter. Pacer Advisors Inc. owned about 0.36% of Qorvo worth $24,308,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of QRVO. LSV Asset Management increased its holdings 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 boosted its holdings in shares of 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 buying an additional 145,879 shares in the last quarter. Fieldview Capital Management LLC boosted its holdings in shares of 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 buying an additional 20,718 shares in the last quarter. Credit Industriel ET Commercial acquired a new stake in shares of Qorvo during the 4th quarter worth approximately $5,223,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Qorvo by 241.0% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 20,417 shares of the semiconductor company’s stock worth $1,725,000 after buying an additional 14,429 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Qorvo

In other news, VP Gina Harrison sold 4,714 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $100.00, for a total transaction of $471,400.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $250,000.00. Following the completion of the sale, the senior vice president owned 71,038 shares in the company, valued at $7,103,800. This represents a 3.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,966,127 shares of company stock valued at $198,911,103 over the last three months. Corporate insiders own 0.49% of the company’s stock.

Qorvo Price Performance

Shares of NASDAQ:QRVO opened at $89.49 on Tuesday. Qorvo, Inc. has a twelve month low of $74.92 and a twelve month high of $109.49. The stock’s 50 day moving average is $93.54 and its 200-day moving average is $86.90. The company has a quick ratio of 2.68, a current ratio of 3.54 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $7.89 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 1.41 and a beta of 1.44.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $743.28 million. During the same quarter last year, the firm posted $0.92 EPS. 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. Sell-side analysts forecast that Qorvo, Inc. will post 5.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on QRVO. Citigroup lowered their price objective on shares of Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Wall Street Zen upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a report on Sunday. TD Cowen reaffirmed a “hold” rating on shares of Qorvo in a research note on Wednesday, July 29th. Barclays upgraded shares of Qorvo from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $95.00 to $100.00 in a report on Wednesday, April 22nd. Finally, Mizuho reissued an “underperform” rating and set a $66.00 price objective (down from $70.00) on shares of Qorvo in a research report on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $94.00.

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.