Bank of New York Mellon Corp Has $40.44 Million Stock Holdings in Qorvo, Inc. $QRVO

Bank of New York Mellon Corp decreased its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 1.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 522,415 shares of the semiconductor company’s stock after selling 10,171 shares during the quarter. Bank of New York Mellon Corp owned 0.56% of Qorvo worth $40,435,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. State Street Corp raised its position in Qorvo by 5.0% during the second quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company’s stock valued at $314,516,000 after purchasing an additional 175,031 shares in the last quarter. FIL Ltd lifted its stake in Qorvo by 13.2% during the fourth quarter. FIL Ltd now owns 3,610,045 shares of the semiconductor company’s stock worth $305,085,000 after purchasing an additional 421,224 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Qorvo by 8.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,869,834 shares of the semiconductor company’s stock valued at $158,027,000 after purchasing an additional 142,731 shares in the last quarter. LSV Asset Management boosted its holdings in shares of Qorvo by 2.3% in the 4th quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock valued at $131,452,000 after purchasing an additional 34,605 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Qorvo by 20.2% in the 2nd quarter. Bank of America Corp DE now owns 1,518,964 shares of the semiconductor company’s stock valued at $128,975,000 after purchasing an additional 255,068 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, 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 value of $192,280,000.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Paul J. Fego sold 2,500 shares of the company’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 $250,000.00. Following the sale, the senior vice president owned 71,038 shares in the company, valued at approximately $7,103,800. The trade was a 3.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,966,127 shares of company stock valued at $198,911,103. Insiders own 0.49% of the company’s stock.

Analyst Ratings Changes

QRVO has been the subject of several research analyst reports. Wolfe Research downgraded Qorvo from an “outperform” rating to a “peer perform” rating in a research note on Friday, April 17th. Barclays upgraded shares of Qorvo from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $95.00 to $100.00 in a research note on Wednesday, April 22nd. UBS Group lifted their price target on shares of Qorvo from $87.00 to $100.00 and gave the company a “neutral” rating in a 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. Finally, JPMorgan Chase & Co. increased 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 equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Qorvo currently has an average rating of “Hold” and a consensus price target of $97.07.

Qorvo Stock Down 0.3%

Shares of NASDAQ QRVO opened at $86.51 on Friday. The company has a 50 day simple moving average of $94.67 and a 200 day simple moving average of $86.58. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.24 and a quick ratio of 2.46. Qorvo, Inc. has a 1 year low of $74.92 and a 1 year high of $109.49. The firm has a market cap of $7.63 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 1.36 and a beta of 1.44.

Qorvo (NASDAQ:QRVO) last released its quarterly 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 firm had revenue of $808.28 million during the quarter, compared to the consensus estimate 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 last year, the firm earned $1.42 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, research analysts forecast that Qorvo, Inc. will post 5.83 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.