Brandes Investment Partners LP Has $37.35 Million Stock Holdings in Qorvo, Inc. $QRVO

Key Points

• Brandes Investment Partners LP boosted its Qorvo stake by 28.2% in the fourth quarter, buying 97,287 additional shares and bringing its holdings to 442,000 shares worth about $37.35 million.
• Qorvo shares were down 2.0% in Wednesday trading, opening at $97.94, while the stock remains well above its 52-week low and near its 52-week high.
• The company reported stronger-than-expected quarterly earnings of $1.69 per share versus $1.21 expected, though revenue fell 7% year over year; analysts currently rate the stock a Hold on average.

Brandes Investment Partners LP increased its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 28.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 442,000 shares of the semiconductor company's stock after purchasing an additional 97,287 shares during the quarter. Brandes Investment Partners LP owned approximately 0.48% of Qorvo worth $37,354,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Fred Alger Management LLC increased 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 purchasing an additional 160 shares in the last quarter. Beacon Investment Advisory Services Inc. increased 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 purchasing an additional 161 shares in the last quarter. Larson Financial Group LLC grew its holdings in Qorvo by 14.6% during the 4th quarter. Larson Financial Group LLC now owns 1,483 shares of the semiconductor company's stock worth $125,000 after acquiring an additional 189 shares during the last quarter. Lido Advisors LLC grew its holdings in Qorvo by 4.1% during the 4th quarter. Lido Advisors LLC now owns 4,816 shares of the semiconductor company's stock worth $431,000 after acquiring an additional 191 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC grew its holdings 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 acquiring an additional 194 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Qorvo Trading Down 2.0%

QRVO opened at $97.94 on Wednesday. The company's 50 day moving average price is $90.28 and its two-hundred day moving average price is $85.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.24 and a quick ratio of 2.46. Qorvo, Inc. has a fifty-two week low of $74.92 and a fifty-two week high of $109.49. The firm has a market capitalization of $8.62 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 1.56 and a beta of 1.43.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings data 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 analyst estimates of $801.31 million. During the same period in the prior year, the firm posted $1.42 EPS. The company's quarterly revenue was down 7.0% on a year-over-year basis. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, research analysts predict that Qorvo, Inc. will post 5.87 earnings per share for the current year.

Insider Activity

In other news, VP Gina Harrison sold 4,714 shares of the company's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $471,400.00. Following the sale, the vice president directly owned 24,429 shares of the company's stock, valued at approximately $2,442,900. This represents a 16.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Paul J. Fego sold 2,500 shares of the company's stock in a transaction on Friday, May 22nd. The shares were 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 directly owned 71,038 shares in the company, valued at approximately $7,103,800. This represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,966,127 shares of company stock valued at $198,911,103. Company insiders own 0.41% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on QRVO. Barclays raised shares of Qorvo from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $95.00 to $100.00 in a report on Wednesday, April 22nd. Mizuho reissued an "underperform" rating and set a $66.00 target price (down from $70.00) on shares of Qorvo in a report on Monday, April 20th. Weiss Ratings reissued a "hold (c)" rating on shares of Qorvo in a report on Monday, April 27th. UBS Group boosted their target price on shares of Qorvo from $87.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Qorvo from $85.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $96.63.

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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