Fintel reports that Vanguard Group has filed a 13G/A form with the SEC disclosing ownership of 11.83MM shares of Qorvo Inc (QRVO). This represents 11.67% of the company.
In their previous filing dated February 10, 2021 they reported 12.34MM shares and 10.82% of the company, a decrease in shares of 1.62% and an increase in total ownership of 0.19% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 7.26% Downside
As of February 7, 2023, the average one-year price target for Qorvo is $98.18. The forecasts range from a low of $80.80 to a high of $126.00. The average price target represents a decrease of 7.26% from its latest reported closing price of $105.87.
The projected annual revenue for Qorvo is $3,735MM, a decrease of 8.97%. The projected annual EPS is $6.30, an increase of 44.68%.
What is the Fund Sentiment?
There are 1176 funds or institutions reporting positions in Qorvo. This is a decrease of 54 owner(s) or 4.39% in the last quarter. Average portfolio weight of all funds dedicated to QRVO is 0.16%, a decrease of 11.40%. Total shares owned by institutions decreased in the last three months by 3.80% to 103,917K shares. The put/call ratio of QRVO is 1.11, indicating a bearish outlook.
What are large shareholders doing?
Baupost Group holds 6,776K shares representing 6.78% ownership of the company. In it's prior filing, the firm reported owning 6,967K shares, representing a decrease of 2.82%. The firm decreased its portfolio allocation in QRVO by 4.35% over the last quarter.
Capital Research Global Investors holds 5,606K shares representing 5.61% ownership of the company. In it's prior filing, the firm reported owning 5,363K shares, representing an increase of 4.33%. The firm decreased its portfolio allocation in QRVO by 7.17% over the last quarter.
AMCPX - AMCAP FUND holds 4,043K shares representing 4.05% ownership of the company. No change in the last quarter.
Boston Partners holds 3,608K shares representing 3.61% ownership of the company. In it's prior filing, the firm reported owning 4,866K shares, representing a decrease of 34.86%. The firm decreased its portfolio allocation in QRVO by 68.63% over the last quarter.
Vulcan Value Partners holds 3,440K shares representing 3.44% ownership of the company. In it's prior filing, the firm reported owning 4,722K shares, representing a decrease of 37.24%. The firm decreased its portfolio allocation in QRVO by 26.61% over the last quarter.
Qorvo Background Information
(This description is provided by the company.)
Qorvo makes a better world possible by providing innovative Radio Frequency (RF) solutions at the center of connectivity. We combine product and technology leadership, systems-level expertise and global manufacturing scale to quickly solve our customers' most complex technical challenges. Qorvo serves diverse high-growth segments of large global markets, including advanced wireless devices, wired and wireless networks and defense radar and communications. Qorvo also leverages unique competitive strengths to advance 5G networks, cloud computing, the Internet of Things, and other emerging applications that expand the global framework interconnecting people, places and things.
This story originally appeared on Fintel.
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