UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
_________________________
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
(Amendment No. 5)1
Qorvo, Inc.
______________________________________________________________________________
(Name of Issuer)
Common Stock
______________________________________________________________________________
(Title of Class of Securities)
74736K101
______________________________________________________________________________
(CUSIP Number)
December 31, 2022
_________________________________________________________________________________
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant
to which this Schedule is filed:
[X] Rule
13d-1(b)
[_] Rule
13d-1(c)
[_] Rule
13d-1(d)
___________
1 The
remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject
class of securities, and for any subsequent amendment containing information which would alter the disclosure provided in a prior cover
page.
The information required in the
remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act
of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions
of the Act (however, see the Notes).
1. NAME
OF REPORTING PERSON
Vulcan
Value Partners, LLC
2. CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [
]
(b) [
]
3. SEC
USE ONLY
4. CITIZENSHIP
OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH
5. SOLE
VOTING POWER
2,675,484
6. SHARED
VOTING POWER
0
7. SOLE
DISPOSITIVE POWER
2,728,901
8. SHARED
DISPOSITIVE POWER
0
| 9. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
2,728,901
| 10. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |
[ ]
| 11. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 |
2.67%
| 12. | TYPE OF REPORTING PERSON |
IA
1. NAME
OF REPORTING PERSON
Mr.
C.T. Fitzpatrick
2. CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [
]
(b) [
]
3. SEC
USE ONLY
4. CITIZENSHIP
OR PLACE OF ORGANIZATION
Citizen of United States
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH
5. SOLE
VOTING POWER
0
6. SHARED
VOTING POWER
0
7. SOLE
DISPOSITIVE POWER
0
8. SHARED
DISPOSITIVE POWER
0
| 9. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
0
| 10. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |
[X] – see note in Item
3(g).
| 11. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 |
0%
| 12. | TYPE OF REPORTING PERSON |
HC
SCHEDULE 13G
Item 1.
(a) Name
of Issuer:
Qorvo, Inc.
(b) Address
of Issuer's Principal Executive Offices:
7628 Thorndike Road
Greensboro, NC 27409
Item 2.
(a) Name
of Person Filing:
Vulcan Value Partners, LLC
Mr. C.T. Fitzpatrick
(b) Address
of Principal Business Office, or if None, Residence:
Three Protective Center, 2801
Highway 280 South
Suite 300
Birmingham, AL 35223
(c) Citizenship:
Vulcan Value Partners, LLC –
a Delaware limited liability company
Mr. C.T. Fitzpatrick
– U.S. Citizen
(d) Title
of Class of Securities:
Incorporated by reference from
the Cover Page.
(e) CUSIP
Number:
Incorporated by reference from
the Cover Page.
| Item 3. | If this Statement is filed pursuant to Rule 13d-1(b), or 13d-2(b) or (c), check whether the person
filing is a: |
| (e) [X] | An investment adviser registered
under Section 203 of the Investment Advisers Act of 1940. This statement is being filed by Vulcan Value Partners, LLC as a registered
investment adviser. All of the securities covered by this report are owned legally by Vulcan Value Partners, LLC’s investment advisory
clients and none are owned directly or indirectly by Vulcan Value Partners, LLC. As permitted by Rule 13d-4, the filing of this statement
shall not be construed as an admission that Vulcan Value Partners, LLC is the beneficial owner of any of the securities covered by this
statement. |
| (g) [X] | Parent Holding
Company or Control Person. This statement is also being filed by Mr. C. T. Fitzpatrick, Chief Executive Officer/Chief Investment Officer/Principal
of Vulcan Value Partners, LLC in the event that he could be deemed to be a controlling person of that firm as the result of his official
positions with or ownership of its voting securities. The existence of such control is expressly disclaimed. Mr. Fitzpatrick and/or members
of his immediate family own 30,388 shares of the securities covered by this statement for his or their own accounts, in a managed account
over which Vulcan Value Partners, LLC serves as the investment adviser. Vulcan Value Partners, LLC exercises voting and dispositive power
over such account. Mr. Fitzpatrick and/or members of his immediate family may also hold shares of the registered investment companies
to which Vulcan Value Partners, LLC serves as investment adviser, which may hold shares of the securities covered by this statement. As
permitted by Rule 13d-4, the filing of this statement shall not be construed as an admission that Mr. Fitzpatrick is the beneficial owner
of any of the securities covered by this statement. |
| (a) | Amount Beneficially Owned: |
2,728,901
(b)
Percent of Class:
2.67%
(c) Number
of Shares as to Which Such Person has:
(i) Sole
Power to Vote or Direct the Vote.
2,675,484
(ii) Shared
Power to Vote or to Direct the Vote.
0
(iii) Sole
Power to Dispose or to Direct the Disposition of.
2,728, 901
(iv) Shared
Power to Dispose or to Direct the Disposition of.
0
| Item 5. | Ownership of Five Percent (5%) or Less of a Class. |
If
this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner
of more than 5 percent of the class of securities, check the following [X]
| Item 6. | Ownership of More than Five Percent (5%) on Behalf of Another Person. |
Various persons, including the investment
companies and owners of the separate accounts to which Vulcan Value Partners, LLC (“Vulcan”) serves as investment adviser,
have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities that
are the subject of this schedule. Except as may be otherwise indicated if this is a joint filing, not more than 5% of the class of securities
that is the subject of this schedule is owned by any one client advised by Vulcan.
| Item 7. | Identification and Classification of the Subsidiary which Acquired the Security being Reported on by
the Parent Holding Company. |
Not Applicable.
| Item 8. | Identification and Classification of Members of the Group. |
Not Applicable.
| Item 9. | Notice of Dissolution of Group. |
Not Applicable.
By signing below I certify that, to the
best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were
not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities
and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and
to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
February 14, 2023
Date
Vulcan Value Partners, LLC
By : /s/ Ashley
Mann
Name : Ashley Mann
Title : Chief Compliance
Officer
Filing on behalf of
C.T. Fitzpatrick, Individually
Joint Filing Agreement
In accordance with Rule 13d-1(k) under the Securities
Exchange Act of 1934, the persons or entities named below agree to the joint filing on behalf of each of them of this Schedule 13G/A with
respect to the Securities of the Issuer and further agree that this joint filing agreement be included as an exhibit to this Schedule
13G/A. In evidence thereof, the undersigned hereby execute this Agreement as of February 14, 2023.
Vulcan Value Partners, LLC
By : /s/ Ashley
Mann
Name : Ashley Mann
Title : Chief Compliance
Officer
Filing on behalf of
C.T. Fitzpatrick, Individually
Qorvo (NASDAQ:QRVO)
Historical Stock Chart
From Oct 2024 to Nov 2024
Qorvo (NASDAQ:QRVO)
Historical Stock Chart
From Nov 2023 to Nov 2024
