Citigroup Inc. lifted its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 5.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 707,271 shares of the semiconductor company's stock after purchasing an additional 35,293 shares during the period. Citigroup Inc. owned 0.75% of Qorvo worth $73,061,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Qorvo during the second quarter valued at approximately $29,000. EverSource Wealth Advisors LLC increased its holdings in shares of Qorvo by 81.0% during the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 115 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Qorvo by 9,333.3% in the 2nd quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 280 shares during the last quarter. New Millennium Group LLC acquired a new stake in Qorvo in the 2nd quarter worth approximately $34,000. Finally, Blue Trust Inc. grew its holdings in shares of Qorvo by 241.6% during the second quarter. Blue Trust Inc. now owns 345 shares of the semiconductor company's stock valued at $40,000 after buying an additional 244 shares during the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts recently issued reports on the stock. StockNews.com cut shares of Qorvo from a "buy" rating to a "hold" rating in a report on Thursday, October 31st. Rosenblatt Securities raised their price target on shares of Qorvo from $105.00 to $120.00 and gave the company a "neutral" rating in a research report on Wednesday, July 31st. BNP Paribas lowered shares of Qorvo from an "outperform" rating to a "neutral" rating and set a $80.00 target price on the stock. in a research note on Wednesday, October 30th. Craig Hallum dropped their target price on Qorvo from $142.00 to $105.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th. Finally, UBS Group decreased their price objective on shares of Qorvo from $115.00 to $90.00 and set a "neutral" rating on the stock in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $102.88.
Get Our Latest Research Report on Qorvo
Insider Buying and Selling at Qorvo
In other news, VP Gina Harrison sold 689 shares of the company's stock in a transaction on Friday, September 6th. The stock was sold at an average price of $107.67, for a total value of $74,184.63. Following the sale, the vice president now directly owns 21,601 shares in the company, valued at $2,325,779.67. This represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is owned by corporate insiders.
Qorvo Stock Up 2.0 %
NASDAQ:QRVO traded up $1.38 during midday trading on Friday, reaching $69.25. The company had a trading volume of 1,885,884 shares, compared to its average volume of 2,462,038. The stock's fifty day simple moving average is $90.08 and its 200-day simple moving average is $103.05. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of -47.43, a PEG ratio of 5.44 and a beta of 1.49. Qorvo, Inc. has a 12-month low of $64.98 and a 12-month high of $130.99.
Qorvo (NASDAQ:QRVO - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (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 firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the business posted $1.99 EPS. The firm's quarterly revenue was down 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Qorvo, Inc. will post 3.37 earnings per share for the current fiscal year.
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.
Featured Articles
Before you consider Qorvo, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Qorvo wasn't on the list.
While Qorvo currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Do you expect the global demand for energy to shrink?! If not, it's time to take a look at how energy stocks can play a part in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
