Callan Family Office LLC Takes $1.03 Million Position in Qorvo, Inc. $QRVO

Key Points

• Callan Family Office LLC acquired 11,018 Qorvo shares worth approximately $1.03 million, while institutional investors collectively own 88.57% of the company.
• Analyst sentiment remains mixed: Qorvo has a consensus “Hold” rating and an average price target of $94, despite buy ratings from Craig Hallum and UBS Group.
• Qorvo exceeded quarterly expectations, reporting $1.64 in EPS versus an estimated $1.11 and revenue of $784.79 million, although revenue declined 4.2% year over year; insiders also sold nearly $199.1 million of stock in the last quarter.

Callan Family Office LLC bought a new stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,018 shares of the semiconductor company's stock, valued at approximately $1,028,000.

• Qorvo NASDAQ: QRVO Will Be One Wild Buy

A number of other hedge funds and other institutional investors also recently modified their holdings of QRVO. Smartleaf Asset Management LLC raised its stake in shares of Qorvo by 215.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company's stock worth $29,000 after buying an additional 231 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Qorvo during the 2nd quarter worth about $32,000. Advisory Services Network LLC acquired a new stake in shares of Qorvo during the 3rd quarter worth about $36,000. Elevation Wealth Partners LLC grew its holdings in shares of Qorvo by 301.0% during the second quarter. Elevation Wealth Partners LLC now owns 413 shares of the semiconductor company's stock worth $39,000 after buying an additional 310 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings in shares of 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 buying an additional 180 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on QRVO shares. Craig Hallum reaffirmed a "buy" rating and issued a $120.00 target price on shares of Qorvo in a research note on Wednesday, May 6th. Citigroup reduced 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 research report on Wednesday, July 29th. Wall Street Zen upgraded Qorvo from a "hold" rating to a "buy" rating in a research note on Sunday, August 2nd. Finally, Weiss Ratings reiterated 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 given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Qorvo currently has a consensus rating of "Hold" and an average price target of $94.00.

Insider Transactions at Qorvo

In other Qorvo news, CEO Robert A. Bruggeworth sold 57,957 shares of the stock in a transaction 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 sale, the chief executive officer directly owned 319,880 shares of the company's stock, valued at $32,115,952. This trade represents a 15.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Philip Chesley sold 5,487 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $97.50, for a total transaction of $534,982.50. Following the completion of the sale, the senior vice president directly owned 44,021 shares in the company, valued at approximately $4,292,047.50. This trade represents a 11.08% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,968,623 shares of company stock valued at $199,138,818. 0.49% of the stock is currently owned by insiders.

Qorvo Price Performance

Qorvo stock opened at $95.37 on Tuesday. The company has a quick ratio of 2.68, a current ratio of 3.54 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $8.41 billion, a P/E ratio of 22.13, a PEG ratio of 1.39 and a beta of 1.44. The firm has a fifty day moving average of $92.08 and a 200-day moving average of $88.63. Qorvo, Inc. has a 52-week low of $74.92 and a 52-week high of $109.49.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.11 by $0.53. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The business had revenue of $784.79 million for the quarter, compared to the consensus estimate of $743.28 million. During the same period last year, the business posted $0.92 EPS. The company'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. As a group, analysts predict that Qorvo, Inc. will post 6.3 EPS for the current year.

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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