Athos Capital Ltd Takes Position in Qorvo, Inc. $QRVO

Key Points

• Athos Capital Ltd. acquired 120,000 Qorvo shares worth approximately $11.2 million, making Qorvo its eighth-largest holding and representing about 0.14% of the semiconductor company.
• Qorvo exceeded quarterly expectations, reporting $1.64 in earnings per share versus the $1.11 consensus estimate and revenue of $784.8 million, although sales declined 4.2% year over year.
• Analysts maintain a generally cautious outlook, with the stock carrying a consensus “Hold” rating and a $94 average price target; meanwhile, insiders sold nearly 2.0 million shares worth $199.1 million over the past three months.

Athos Capital Ltd bought a new position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 120,000 shares of the semiconductor company's stock, valued at approximately $11,192,000. Qorvo accounts for approximately 4.0% of Athos Capital Ltd's holdings, making the stock its 8th biggest position. Athos Capital Ltd owned approximately 0.14% of Qorvo as of its most recent SEC filing.

• Qorvo NASDAQ: QRVO Will Be One Wild Buy

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Fred Alger Management LLC grew its stake in Qorvo by 5.3% in the 3rd quarter. Fred Alger Management LLC now owns 3,179 shares of the semiconductor company's stock valued at $290,000 after acquiring an additional 160 shares during the period. Fifth Third Wealth Advisors LLC raised its position in Qorvo by 4.4% during the first quarter. Fifth Third Wealth Advisors LLC now owns 3,955 shares of the semiconductor company's stock worth $306,000 after acquiring an additional 167 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in Qorvo by 60.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company's stock worth $41,000 after acquiring an additional 180 shares during the period. Larson Financial Group LLC lifted its holdings in Qorvo by 14.6% during the fourth quarter. Larson Financial Group LLC now owns 1,483 shares of the semiconductor company's stock valued at $125,000 after purchasing an additional 189 shares in the last quarter. Finally, Lido Advisors LLC lifted its holdings in Qorvo by 4.1% during the fourth quarter. Lido Advisors LLC now owns 4,816 shares of the semiconductor company's stock valued at $431,000 after purchasing an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company's stock.

Qorvo Price Performance

Shares of NASDAQ QRVO opened at $95.56 on Monday. The stock has a market cap of $8.43 billion, a PE ratio of 22.17, a P/E/G ratio of 1.39 and a beta of 1.44. 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, Inc. has a 12-month low of $74.92 and a 12-month high of $109.49. The company has a 50-day moving average of $92.19 and a 200 day moving average of $88.52.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share for the quarter, topping analysts' consensus estimates of $1.11 by $0.53. The business had revenue of $784.79 million for the quarter, compared to analyst estimates of $743.28 million. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. The business's revenue was down 4.2% on a year-over-year basis. During the same period last year, the company posted $0.92 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, sell-side analysts predict that Qorvo, Inc. will post 6.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on QRVO. Wall Street Zen raised shares of Qorvo from a "hold" rating to a "buy" rating in a research note on Sunday, August 2nd. Craig Hallum restated a "buy" rating and set a $120.00 price target on shares of Qorvo in a research report on Wednesday, May 6th. 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 note on Wednesday, May 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Qorvo in a report on Friday, July 24th. Finally, UBS Group boosted their price objective on Qorvo from $91.00 to $96.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $94.00.

Insider Buying and Selling

In related news, CFO Grant Brown sold 5,179 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $97.50, for a total value of $504,952.50. Following the completion of the sale, the chief financial officer owned 49,268 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert A. Bruggeworth sold 57,957 shares of Qorvo stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $100.40, for a total value of $5,818,882.80. Following the transaction, the chief executive officer owned 319,880 shares in the company, valued at approximately $32,115,952. The trade was a 15.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,968,623 shares of company stock worth $199,138,818 in the last three months. Company insiders own 0.49% of the company's stock.

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.

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