New Age Alpha Advisors LLC Sells 5,578 Shares of Qorvo, Inc. $QRVO

New Age Alpha Advisors LLC decreased its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 43.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,399 shares of the semiconductor company’s stock after selling 5,578 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Qorvo were worth $625,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Winnow Wealth LLC bought a new position in shares of Qorvo during the 3rd quarter worth $27,000. Stance Capital LLC bought a new position in shares of Qorvo during the 3rd quarter worth $27,000. Sound Income Strategies LLC grew its stake in shares of Qorvo by 952.8% during the 4th quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 343 shares during the period. Advisory Services Network LLC bought a new position in shares of Qorvo during the 3rd quarter worth $36,000. Finally, Clearstead Advisors LLC grew its stake in shares of Qorvo by 93.3% during the 3rd quarter. Clearstead Advisors LLC now owns 431 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 208 shares during the period. Institutional investors own 88.57% of the company’s stock.

Insider Transactions at Qorvo

In other Qorvo news, SVP Paul J. Fego sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $100.00, for a total value of $250,000.00. Following the sale, the senior vice president owned 71,038 shares of the company’s stock, valued at $7,103,800. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Gina Harrison sold 4,714 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $471,400.00. Following the completion of the sale, the vice president directly owned 24,429 shares in the company, valued at approximately $2,442,900. The trade was a 16.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 8,170 shares of company stock worth $812,220 in the last three months. 0.41% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on QRVO. Zacks Research downgraded Qorvo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. increased their price target on Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Wolfe Research downgraded Qorvo from an “outperform” rating to a “peer perform” rating in a research note on Friday, April 17th. Citigroup increased their price objective on Qorvo from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Qorvo in a report on Monday, April 27th. Three investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $96.63.

Qorvo Stock Performance

Shares of QRVO opened at $106.42 on Friday. The stock’s 50-day simple moving average is $86.66 and its 200 day simple moving average is $84.50. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of 29.40, a price-to-earnings-growth ratio of 1.62 and a beta of 1.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.46 and a current ratio of 3.24. Qorvo, Inc. has a 52-week low of $74.03 and a 52-week high of $109.49.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.48. The business had revenue of $808.28 million for the quarter, compared to analysts’ expectations of $801.31 million. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.42 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Research analysts forecast that Qorvo, Inc. will post 5.87 EPS for the current fiscal year.

Qorvo Company 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.