Qorvo, Inc. (NASDAQ:QRVO) Holdings Raised by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 377.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 816,882 shares of the semiconductor company's stock after buying an additional 645,829 shares during the period. Assenagon Asset Management S.A. owned about 0.86% of Qorvo worth $57,125,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of QRVO. Vulcan Value Partners LLC grew its position in Qorvo by 35.0% in the second quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company's stock valued at $246,665,000 after acquiring an additional 550,111 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Qorvo by 7.1% in the 3rd quarter. Pacer Advisors Inc. now owns 1,528,748 shares of the semiconductor company's stock valued at $157,920,000 after purchasing an additional 101,742 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Qorvo by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,323,463 shares of the semiconductor company's stock worth $153,558,000 after purchasing an additional 4,386 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Qorvo by 140.2% during the third quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company's stock worth $86,290,000 after purchasing an additional 487,621 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in Qorvo by 23.9% in the third quarter. Van ECK Associates Corp now owns 832,292 shares of the semiconductor company's stock worth $83,429,000 after purchasing an additional 160,534 shares in the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Qorvo Price Performance

QRVO traded down $0.57 during trading on Thursday, reaching $73.59. The stock had a trading volume of 1,628,736 shares, compared to its average volume of 2,982,424. The stock has a 50 day moving average of $69.78 and a two-hundred day moving average of $94.25. The company has a quick ratio of 1.38, a current ratio of 1.90 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of -50.40, a price-to-earnings-growth ratio of 5.74 and a beta of 1.40. Qorvo, Inc. has a 1-year low of $64.54 and a 1-year high of $130.99.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.03. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the business earned $1.99 EPS. The company's quarterly revenue was down 5.2% compared to the same quarter last year. As a group, equities analysts anticipate that Qorvo, Inc. will post 3.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on QRVO. The Goldman Sachs Group decreased their target price on Qorvo from $99.00 to $78.00 and set a "neutral" rating for the company in a research report on Friday, January 10th. Susquehanna lowered their target price on shares of Qorvo from $115.00 to $90.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th. TD Cowen dropped their target price on shares of Qorvo from $125.00 to $85.00 and set a "hold" rating on the stock in a report on Wednesday, October 30th. Raymond James lowered shares of Qorvo from an "outperform" rating to a "market perform" rating in a report on Wednesday, October 30th. Finally, Benchmark lowered shares of Qorvo from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $99.06.

Insider Buying and Selling at Qorvo

In related news, SVP Philip Chesley sold 4,045 shares of the business's stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total value of $283,756.75. Following the sale, the senior vice president now directly owns 30,261 shares in the company, valued at $2,122,809.15. The trade was a 11.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is owned by corporate insiders.

About Qorvo

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.