Paloma Partners Management Co purchased a new position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 50,000 shares of the semiconductor company's stock, valued at approximately $5,165,000. Paloma Partners Management Co owned about 0.05% of Qorvo at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its holdings in shares of Qorvo by 17,255.9% during the second quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company's stock valued at $165,590,000 after purchasing an additional 1,418,784 shares during the period. Vulcan Value Partners LLC raised its stake in shares of Qorvo by 35.0% during the 2nd quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company's stock worth $246,665,000 after purchasing an additional 550,111 shares during the period. Thrivent Financial for Lutherans boosted its stake in Qorvo by 140.2% in the third quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company's stock valued at $86,290,000 after acquiring an additional 487,621 shares during the last quarter. Caxton Associates LP purchased a new stake in Qorvo in the second quarter worth $34,812,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in Qorvo by 78.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company's stock valued at $55,548,000 after buying an additional 236,590 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.
Qorvo Trading Up 2.3 %
NASDAQ:QRVO traded up $1.58 during midday trading on Monday, hitting $70.63. 754,502 shares of the company traded hands, compared to its average volume of 1,447,527. The firm has a market capitalization of $6.68 billion, a P/E ratio of -47.29, a P/E/G ratio of 5.53 and a beta of 1.49. The firm's fifty day moving average is $86.84 and its 200-day moving average is $102.09. Qorvo, Inc. has a 12-month low of $64.98 and a 12-month high of $130.99. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45.
Qorvo (NASDAQ:QRVO - Get Free Report) last released its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.03. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The business's revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the business earned $1.99 EPS. On average, sell-side analysts predict that Qorvo, Inc. will post 3.37 EPS for the current year.
Insider Transactions at Qorvo
In other Qorvo news, VP Gina Harrison sold 689 shares of the business's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $107.67, for a total value of $74,184.63. Following the completion of the sale, the vice president now directly owns 21,601 shares of the company's stock, valued at $2,325,779.67. The trade was a 3.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.46% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the company. Benchmark lowered Qorvo from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Susquehanna lowered their target price on Qorvo from $115.00 to $90.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th. StockNews.com lowered Qorvo from a "buy" rating to a "hold" rating in a research report on Thursday, October 31st. Craig Hallum reduced their target price on shares of Qorvo from $142.00 to $105.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th. Finally, Morgan Stanley downgraded shares of Qorvo from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $130.00 to $120.00 in a research report on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $102.88.
Read Our Latest Research Report on Qorvo
About Qorvo
(
Free Report)
Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.
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