Mizuho Securities USA LLC Buys 64,804 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Mizuho Securities USA LLC boosted its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 871.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,237 shares of the semiconductor company's stock after purchasing an additional 64,804 shares during the quarter. Mizuho Securities USA LLC owned about 0.08% of Qorvo worth $7,462,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GDS Wealth Management bought a new stake in shares of Qorvo during the 3rd quarter worth $2,171,000. Robeco Institutional Asset Management B.V. boosted its holdings 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 valued at $55,548,000 after acquiring an additional 236,590 shares during the period. Bessemer Group Inc. increased its stake in shares of Qorvo by 1,361.9% in the first quarter. Bessemer Group Inc. now owns 13,596 shares of the semiconductor company's stock worth $1,562,000 after purchasing an additional 12,666 shares during the period. Canada Pension Plan Investment Board lifted its position in shares of Qorvo by 23.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 370,200 shares of the semiconductor company's stock worth $42,510,000 after purchasing an additional 71,200 shares during the last quarter. Finally, APG Asset Management N.V. boosted its stake in Qorvo by 21.9% during the 2nd quarter. APG Asset Management N.V. now owns 101,243 shares of the semiconductor company's stock valued at $10,962,000 after purchasing an additional 18,178 shares during the period. Institutional investors and hedge funds own 88.57% of the company's stock.

Qorvo Stock Down 1.0 %

Shares of QRVO stock opened at $65.61 on Friday. Qorvo, Inc. has a 12-month low of $65.35 and a 12-month high of $130.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38. The firm has a 50-day moving average price of $93.98 and a 200 day moving average price of $104.22.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings data 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 company 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 company's revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.99 earnings per share. On average, research 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 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 transaction, the vice president now directly owns 21,601 shares of the company's stock, valued at approximately $2,325,779.67. The trade was a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on QRVO. Raymond James lowered Qorvo from an "outperform" rating to a "market perform" rating in a report on Wednesday, October 30th. The Goldman Sachs Group increased their price target on shares of Qorvo from $105.00 to $118.00 and gave the company a "neutral" rating in a report on Wednesday, July 31st. Benchmark downgraded shares of Qorvo from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. UBS Group reduced 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. Finally, Loop Capital initiated coverage on Qorvo in a research note on Monday, November 11th. They set a "hold" rating and a $73.00 price target on the stock. 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 stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $102.88.

Qorvo 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.

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