Qorvo, Inc. $QRVO Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 16.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,181,479 shares of the semiconductor company's stock after buying an additional 311,645 shares during the quarter. Dimensional Fund Advisors LP owned 2.35% of Qorvo worth $168,842,000 as of its most recent filing with the SEC.

• Qorvo NASDAQ: QRVO Will Be One Wild Buy

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Smartleaf Asset Management LLC increased its stake in shares of Qorvo by 215.9% during 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 raised its holdings in Qorvo by 952.8% in 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 in the last quarter. Advisory Services Network LLC purchased a new position in Qorvo in the third quarter worth approximately $36,000. V Square Quantitative Management LLC purchased a new position in Qorvo in the fourth quarter worth approximately $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings in Qorvo by 60.0% during the 4th 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 in the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on QRVO. Craig Hallum reissued a "buy" rating and issued a $120.00 price objective on shares of Qorvo in a research report on Wednesday, May 6th. Wall Street Zen cut shares of Qorvo from a "buy" rating to a "hold" rating in a research report on Saturday. Mizuho reiterated an "underperform" rating and set a $66.00 target price (down from $70.00) on shares of Qorvo in a research note on Monday, April 20th. Weiss Ratings reissued a "hold (c)" rating on shares of Qorvo in a report on Monday, April 27th. Finally, UBS Group raised their price target on Qorvo from $87.00 to $100.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Qorvo has a consensus rating of "Hold" and an average price target of $97.07.

Qorvo Stock Performance

Shares of QRVO opened at $86.51 on Friday. The company has a market capitalization of $7.63 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 1.36 and a beta of 1.44. Qorvo, Inc. has a 52-week low of $74.92 and a 52-week high of $109.49. The company has a quick ratio of 2.46, a current ratio of 3.24 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average price of $94.67 and a 200 day moving average price of $86.58.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.48. The business had revenue of $808.28 million during the quarter, compared to analysts' expectations of $801.31 million. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The company's revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.42 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Research analysts predict that Qorvo, Inc. will post 5.83 EPS for the current fiscal year.

Insider Activity at Qorvo

In related news, Director Peter A. Feld sold 1,900,000 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $101.20, for a total value of $192,280,000.00. Following the completion of the sale, the director directly owned 5,611,526 shares of the company's stock, valued at $567,886,431.20. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert A. Bruggeworth sold 57,957 shares of the company's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $100.40, for a total transaction of $5,818,882.80. Following the completion of the transaction, the chief executive officer owned 319,880 shares of the company's stock, valued at $32,115,952. This represents a 15.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,966,127 shares of company stock valued at $198,911,103 in the last ninety days. 0.49% of the stock is currently owned by insiders.

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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