Dynamic Technology Lab Private Ltd Makes New Investment in Qorvo, Inc. (NASDAQ:QRVO)

Dynamic Technology Lab Private Ltd bought a new position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 24,262 shares of the semiconductor company's stock, valued at approximately $2,507,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its holdings in Qorvo by 17,255.9% in the 2nd quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company's stock worth $165,590,000 after acquiring an additional 1,418,784 shares during the period. Vulcan Value Partners LLC grew its position in shares of 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 purchasing an additional 550,111 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Qorvo by 140.2% in 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 period. Caxton Associates LP acquired a new position in shares of Qorvo during the 2nd quarter worth about $34,812,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Qorvo by 78.6% during 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 purchasing an additional 236,590 shares during the period. Institutional investors and hedge funds own 88.57% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Bank of America dropped 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. Morgan Stanley cut shares of Qorvo from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $130.00 to $120.00 in a research note on Friday, October 11th. Needham & Company LLC started coverage on shares of Qorvo in a research note on Monday, October 28th. They set a "buy" rating and a $135.00 target price for the company. Raymond James cut shares of Qorvo from an "outperform" rating to a "market perform" rating in a research note on Wednesday, October 30th. Finally, StockNews.com cut shares of Qorvo from a "buy" rating to a "hold" rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $102.88.

Qorvo Stock Performance

NASDAQ:QRVO traded up $0.93 during trading hours on Monday, hitting $70.18. 700,409 shares of the stock were exchanged, compared to its average volume of 1,442,220. 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 company's 50 day moving average is $90.08 and its two-hundred day moving average is $103.14. Qorvo, Inc. has a twelve month low of $64.98 and a twelve month high of $130.99.

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 (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm posted $1.99 earnings per share. The firm's revenue for the quarter was down 5.2% compared to the same quarter last year. Analysts predict that Qorvo, Inc. will post 3.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Qorvo

In other news, VP Gina Harrison sold 689 shares of the business's stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $107.67, for a total transaction of $74,184.63. Following the completion of the transaction, the vice president now directly owns 21,601 shares in the company, valued at approximately $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 through this hyperlink. Corporate 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.