Bokf Na Decreases Stake in Qorvo, Inc. $QRVO

Key Points

• Bokf Na cut its Qorvo stake by 61.6% in the fourth quarter, selling 18,567 shares and leaving it with 11,552 shares worth about $976,000.
• Qorvo shares were up 1.8% to $90.53, with the stock trading between a 12-month low of $71.73 and high of $106.30.
• Qorvo beat earnings expectations in its latest quarter, reporting $1.69 EPS versus the $1.21 consensus, while revenue of $808.28 million came in slightly above estimates but was still down 7% year over year.

Bokf Na reduced its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 61.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,552 shares of the semiconductor company's stock after selling 18,567 shares during the quarter. Bokf Na's holdings in Qorvo were worth $976,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Sage Rhino Capital LLC raised its position in Qorvo by 4.4% during the 3rd quarter. Sage Rhino Capital LLC now owns 3,758 shares of the semiconductor company's stock worth $342,000 after buying an additional 160 shares during the last quarter. Fred Alger Management LLC raised 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 worth $290,000 after buying an additional 160 shares during the last quarter. Beacon Investment Advisory Services Inc. raised its position in Qorvo by 5.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 3,001 shares of the semiconductor company's stock worth $254,000 after buying an additional 161 shares during the last quarter. Versant Capital Management Inc raised its position in Qorvo by 4.5% during the 3rd quarter. Versant Capital Management Inc now owns 4,139 shares of the semiconductor company's stock worth $377,000 after buying an additional 177 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC raised its position in Qorvo by 0.3% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 62,938 shares of the semiconductor company's stock worth $5,479,000 after buying an additional 194 shares during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Trading Up 1.8%

NASDAQ QRVO opened at $90.53 on Friday. The firm's 50-day moving average is $81.28 and its two-hundred day moving average is $83.91. Qorvo, Inc. has a 12 month low of $71.73 and a 12 month high of $106.30. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.24 and a quick ratio of 2.89. The stock has a market capitalization of $8.39 billion, a P/E ratio of 25.01, a PEG ratio of 1.40 and a beta of 1.42.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.21 by $0.48. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The company had revenue of $808.28 million for the quarter, compared to analysts' expectations of $801.31 million. During the same quarter in the prior year, the company posted $1.42 earnings per share. Qorvo's revenue for the quarter was down 7.0% 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 5.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Susquehanna reduced their price target on shares of Qorvo from $95.00 to $90.00 and set a "neutral" rating for the company in a research report on Thursday, January 22nd. Stifel Nicolaus reduced their price target on shares of Qorvo from $88.00 to $85.00 and set a "hold" rating for the company in a research report on Wednesday, January 28th. Morgan Stanley set a $84.00 price target on shares of Qorvo in a research report on Wednesday, January 28th. Weiss Ratings reissued a "hold (c)" rating on shares of Qorvo in a research report on Monday, April 27th. Finally, Craig Hallum reaffirmed a "buy" rating and set a $120.00 price objective on shares of Qorvo in a research note on Wednesday. Three analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $96.63.

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.

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