Caisse de depot et placement du Quebec Takes $15.88 Million Position in Qorvo, Inc. $QRVO

Caisse de depot et placement du Quebec purchased a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 170,313 shares of the semiconductor company’s stock, valued at approximately $15,885,000. Caisse de depot et placement du Quebec owned 0.19% of Qorvo as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its holdings in Qorvo by 215.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 231 shares in the last quarter. Global Retirement Partners LLC purchased a new position in shares of Qorvo during the 2nd quarter worth approximately $32,000. Advisory Services Network LLC purchased a new position in shares of Qorvo during the 3rd quarter worth approximately $36,000. Elevation Wealth Partners LLC lifted its holdings in shares of Qorvo by 301.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 413 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 310 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in shares of Qorvo by 60.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 180 shares during the period. 88.57% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Qorvo

In other news, CFO Grant Brown sold 5,179 shares of Qorvo stock in a transaction on Monday, August 17th. The stock was sold at an average price of $97.50, for a total transaction of $504,952.50. Following the completion of the transaction, the chief financial officer owned 49,268 shares of the company’s stock, valued at $4,803,630. The trade was a 9.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Peter A. Feld sold 1,900,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $101.20, for a total transaction of $192,280,000.00. Following the completion of the sale, the director owned 5,611,526 shares in the company, valued at $567,886,431.20. This represents a 25.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,968,623 shares of company stock worth $199,138,818. Corporate insiders own 0.49% of the company’s stock.

Wall Street Analyst Weigh In

QRVO has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qorvo in a report on Friday, July 24th. Craig Hallum reissued a “buy” rating and issued a $120.00 target price on shares of Qorvo in a report on Wednesday, May 6th. Citigroup lowered their price target on shares of Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Wall Street Zen upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. Finally, JPMorgan Chase & Co. raised their price objective 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. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $94.00.

Qorvo Stock Performance

QRVO opened at $94.73 on Friday. Qorvo, Inc. has a 1-year low of $74.92 and a 1-year high of $109.49. The stock has a market cap of $8.36 billion, a P/E ratio of 21.98, a P/E/G ratio of 1.40 and a beta of 1.44. The stock’s 50 day simple moving average is $91.92 and its 200 day simple moving average is $88.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.54 and a quick ratio of 2.68.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.53. The firm had revenue of $784.79 million during the quarter, compared to analysts’ expectations of $743.28 million. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.Qorvo’s revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, equities analysts anticipate that Qorvo, Inc. will post 6.3 EPS for the current fiscal 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.