Empowered Funds LLC Makes New $877,000 Investment in Qorvo, Inc. $QRVO

Empowered Funds LLC acquired a new position in Qorvo, Inc. (NASDAQ:QRVO) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,403 shares of the semiconductor company’s stock, valued at approximately $877,000.

A number of other hedge funds also recently bought and sold shares of QRVO. Jones Financial Companies Lllp lifted its holdings in shares of Qorvo by 440.1% during the first quarter. Jones Financial Companies Lllp now owns 8,134 shares of the semiconductor company’s stock worth $589,000 after buying an additional 6,628 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Qorvo by 158.7% during the second quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company’s stock valued at $180,000 after buying an additional 1,301 shares during the last quarter. First Trust Advisors LP raised its position in shares of Qorvo by 56.5% during the second quarter. First Trust Advisors LP now owns 142,503 shares of the semiconductor company’s stock valued at $12,100,000 after buying an additional 51,475 shares during the last quarter. Marshall Wace LLP bought a new position in Qorvo during the second quarter valued at about $428,000. Finally, Cerity Partners LLC bought a new stake in shares of Qorvo in the 2nd quarter worth approximately $327,000. 88.57% of the stock is currently owned by institutional investors.

Key Stories Impacting Qorvo

Here are the key news stories impacting Qorvo this week:

• Positive Sentiment: Qorvo’s latest quarterly results exceeded expectations: earnings per share came in at $1.64 versus the $1.11 consensus estimate, while revenue of roughly $784.8 million surpassed forecasts of $743.3 million. The earnings beat provides support for the stock, although revenue declined 4.2% year over year.
• Positive Sentiment: Institutional ownership remains high at approximately 88.6%, with major investors including BlackRock, California State Teachers’ Retirement System and Bank of America reportedly adding or initiating sizable positions. Such buying can reinforce investor confidence and provide demand for QRVO shares.
• Positive Sentiment: Qorvo’s exposure to radio-frequency solutions for drones, satellite communications and industrial IoT may offer longer-term growth opportunities in bandwidth, connectivity and power-efficiency markets.
• Neutral Sentiment: Brokerages maintain an average “Hold” recommendation, with three Buy ratings, fourteen Holds and one Sell. The average price target is $94, below recent trading levels, suggesting analysts see limited near-term upside despite the earnings beat. Qorvo Given Average Recommendation of Hold
• Neutral Sentiment: Skyworks Solutions’ extension of exchange offers for Qorvo notes keeps the companies’ merger plans in focus. The potential transaction could be a catalyst, but the extension also leaves timing, financing and completion risks unresolved.
• Negative Sentiment: Several executives recently sold shares. CEO Robert Bruggeworth sold 28,744 shares for approximately $2.9 million, while SVPs Steven Creviston, Paul Fego and Frank Stewart also reduced their holdings. The combined sales total roughly $4.4 million and could weigh on sentiment, though they may reflect routine diversification rather than a change in business outlook. Qorvo Insider Selling

Analyst Upgrades and Downgrades

QRVO has been the topic of several analyst reports. Wall Street Zen raised shares of Qorvo from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. TD Cowen reiterated a “hold” rating on shares of Qorvo in a research note on Wednesday, July 29th. Citigroup decreased their price target on Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. UBS Group lifted their price objective on Qorvo from $91.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qorvo in a report on Friday, July 24th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $94.00.

Insider Buying and Selling at Qorvo

In related news, CEO Robert Bruggeworth sold 28,744 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $100.87, for a total transaction of $2,899,407.28. Following the sale, the chief executive officer owned 325,546 shares of the company’s stock, valued at $32,837,825.02. This represents a 8.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Steven Creviston sold 4,810 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $100.87, for a total value of $485,184.70. Following the sale, the senior vice president directly owned 119,451 shares in the company, valued at approximately $12,049,022.37. This trade represents a 3.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 54,999 shares of company stock valued at $5,458,714 over the last ninety days. 0.49% of the stock is owned by corporate insiders.

Qorvo Stock Up 2.5%

Qorvo stock opened at $102.84 on Friday. Qorvo, Inc. has a 1-year low of $74.92 and a 1-year high of $109.49. The company has a market cap of $9.07 billion, a P/E ratio of 23.86, a price-to-earnings-growth ratio of 1.77 and a beta of 1.45. The company has a fifty day simple moving average of $92.09 and a 200 day simple moving average of $89.47. The company has a current ratio of 3.54, a quick ratio of 2.68 and a debt-to-equity ratio of 0.45.

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

About Qorvo

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.