Qorvo, Inc. $QRVO Position Increased by Janus Henderson Group PLC

Key Points

• Janus Henderson Group increased its Qorvo stake by 19.1% in the first quarter, bringing its holdings to 548,859 shares valued at approximately $42.5 million. Institutional investors collectively own 88.57% of Qorvo.
• Qorvo reported quarterly earnings of $1.64 per share, exceeding the $1.11 consensus estimate, while revenue of $784.8 million also topped expectations. However, revenue declined 4.2% year over year.
• Analyst sentiment remains mixed, with Qorvo carrying a consensus “Hold” rating and a $94 average price target. Insiders sold about 1.97 million shares worth nearly $198.9 million over the past 90 days.

Janus Henderson Group PLC boosted its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 19.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 548,859 shares of the semiconductor company's stock after purchasing an additional 88,070 shares during the quarter. Janus Henderson Group PLC owned approximately 0.62% of Qorvo worth $42,473,000 at the end of the most recent reporting period.

• Qorvo NASDAQ: QRVO Will Be One Wild Buy

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its position in Qorvo by 215.9% in the fourth 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 period. Sound Income Strategies LLC boosted its holdings in shares of Qorvo by 952.8% during the fourth quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 343 shares during the period. Advisory Services Network LLC acquired a new position in shares of Qorvo during the third quarter valued at $36,000. V Square Quantitative Management LLC acquired a new position in shares of Qorvo during the fourth quarter valued at $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its position 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 acquiring an additional 180 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company's stock.

Insider Activity at Qorvo

In other news, SVP Paul J. Fego sold 2,500 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the transaction, the senior vice president directly owned 71,038 shares in the company, valued at $7,103,800. This trade represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Gina Harrison sold 4,714 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total transaction of $471,400.00. Following the completion of the transaction, the vice president owned 24,429 shares of the company's stock, valued at $2,442,900. This trade represents a 16.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,966,127 shares of company stock valued at $198,911,103. 0.49% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Mizuho reiterated an "underperform" rating and issued a $66.00 price objective (down from $70.00) on shares of Qorvo in a research report on Monday, April 20th. Weiss Ratings restated a "hold (c)" rating on shares of Qorvo in a research report on Friday, July 24th. Wall Street Zen upgraded shares of Qorvo from a "hold" rating to a "buy" rating in a research note on Sunday. 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. Finally, Barclays raised Qorvo from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $95.00 to $100.00 in a report on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Qorvo presently has an average rating of "Hold" and a consensus target price of $94.00.

Qorvo Price Performance

Shares of NASDAQ QRVO opened at $90.57 on Monday. Qorvo, Inc. has a fifty-two week low of $74.92 and a fifty-two week high of $109.49. The firm's 50-day simple moving average is $93.88 and its 200 day simple moving average is $86.84. 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 stock has a market cap of $7.99 billion, a P/E ratio of 21.01, a P/E/G ratio of 1.41 and a beta of 1.44.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.53. The business had revenue of $784.79 million during the quarter, compared to the consensus estimate of $743.28 million. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. The company's quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Equities analysts expect that Qorvo, Inc. will post 5.87 EPS for the current 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.

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