11,531 Shares in Qorvo, Inc. (NASDAQ:QRVO) Acquired by Diversified Trust Co

Diversified Trust Co purchased a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 11,531 shares of the semiconductor company's stock, valued at approximately $806,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its position in Qorvo by 17,255.9% in 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 holdings in shares of Qorvo by 35.0% in the 2nd quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company's stock valued at $246,665,000 after buying an additional 550,111 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Qorvo by 140.2% during the 3rd 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 period. Caxton Associates LP acquired a new position in Qorvo in the 2nd quarter valued at about $34,812,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in Qorvo by 78.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company's stock worth $55,548,000 after purchasing an additional 236,590 shares during the period. Hedge funds and other institutional investors own 88.57% of the company's stock.

Qorvo Stock Performance

Qorvo stock traded down $1.39 during mid-day trading on Friday, reaching $71.69. 5,329,870 shares of the company were exchanged, compared to its average volume of 3,247,778. The firm's 50-day simple moving average is $69.73 and its two-hundred day simple moving average is $95.54. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99. The firm has a market cap of $6.78 billion, a PE ratio of -49.10, a price-to-earnings-growth ratio of 5.58 and a beta of 1.40. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share 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 the consensus estimate of $1.03 billion. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The company's revenue for the quarter was down 5.2% on a year-over-year basis. During the same period last year, the company earned $1.99 earnings per share. Equities analysts predict that Qorvo, Inc. will post 3.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on QRVO shares. Raymond James lowered shares of Qorvo from an "outperform" rating to a "market perform" rating in a research note on Wednesday, October 30th. The Goldman Sachs Group dropped their price target on shares of Qorvo from $99.00 to $78.00 and set a "neutral" rating for the company in a research note on Friday. UBS Group reduced their price objective on Qorvo from $115.00 to $90.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 30th. Barclays lowered their target price on Qorvo from $120.00 to $90.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 30th. Finally, Bank of America reduced their price target on Qorvo from $115.00 to $80.00 and set an "underperform" rating on the stock in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $99.06.

Insider Transactions at Qorvo

In related news, SVP Philip Chesley sold 4,045 shares of the company's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $70.15, for a total transaction of $283,756.75. Following the transaction, the senior vice president now owns 30,261 shares of the company's stock, valued at $2,122,809.15. This represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.46% of the company's stock.

Qorvo Company Profile

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.