Nissay Asset Management Corp Japan Buys 7,960 Shares of Qorvo, Inc. $QRVO

Nissay Asset Management Corp Japan raised its stake in Qorvo, Inc. (NASDAQ:QRVO) by 35.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,643 shares of the semiconductor company’s stock after acquiring an additional 7,960 shares during the period. Nissay Asset Management Corp Japan’s holdings in Qorvo were worth $2,858,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Fred Alger Management LLC grew its position in Qorvo by 5.3% during the 3rd 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 last quarter. Fifth Third Wealth Advisors LLC raised its holdings in Qorvo by 4.4% in the first 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 during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in Qorvo by 60.0% in the fourth 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 during the last quarter. Larson Financial Group LLC lifted its stake in shares of Qorvo by 14.6% in the fourth 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. Finally, Lido Advisors LLC lifted its stake in shares of Qorvo by 4.1% in the fourth quarter. Lido Advisors LLC now owns 4,816 shares of the semiconductor company’s stock worth $431,000 after buying an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Insider Activity at Qorvo

In other Qorvo news, CFO Grant Brown sold 5,179 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $97.50, for a total value of $504,952.50. Following the transaction, the chief financial officer directly owned 49,268 shares in the company, valued at approximately $4,803,630. This trade represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Philip Chesley sold 5,487 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $97.50, for a total transaction of $534,982.50. Following the sale, the senior vice president directly owned 44,021 shares of the company’s stock, valued at approximately $4,292,047.50. The trade was a 11.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.49% of the stock is currently owned by company insiders.

Qorvo Trading Up 1.4%

Shares of NASDAQ:QRVO opened at $96.08 on Tuesday. The stock’s 50-day simple moving average is $91.81 and its two-hundred day simple moving average is $89.07. The stock has a market capitalization of $8.48 billion, a price-to-earnings ratio of 22.29 and a beta of 1.44. Qorvo, Inc. has a 52-week low of $74.92 and a 52-week high of $109.49. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.68 and a current ratio of 3.54.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.53. The firm had revenue of $784.79 million for the quarter, compared to analysts’ expectations of $743.28 million. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Analysts expect that Qorvo, Inc. will post 6.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. TD Cowen reaffirmed a “hold” rating on shares of Qorvo in a research report on Wednesday, July 29th. Craig Hallum reiterated a “buy” rating and set a $120.00 target price on shares of Qorvo in a research note on Wednesday, May 6th. Wall Street Zen raised Qorvo from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a research note on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.