180,000 Shares in Qorvo, Inc. (NASDAQ:QRVO) Purchased by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 180,000 shares of the semiconductor company's stock, valued at approximately $20,887,000. Healthcare of Ontario Pension Plan Trust Fund owned about 0.19% of Qorvo as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mather Group LLC. raised its position in shares of Qorvo by 5.6% during the 2nd quarter. Mather Group LLC. now owns 1,812 shares of the semiconductor company's stock valued at $208,000 after buying an additional 96 shares during the period. Quadrature Capital Ltd lifted its stake in shares of Qorvo by 0.4% in the 4th quarter. Quadrature Capital Ltd now owns 25,092 shares of the semiconductor company's stock valued at $2,825,000 after purchasing an additional 103 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Qorvo by 81.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 115 shares during the period. American Trust increased its position in shares of Qorvo by 5.8% during the 2nd quarter. American Trust now owns 2,110 shares of the semiconductor company's stock worth $245,000 after purchasing an additional 115 shares during the last quarter. Finally, Empirical Finance LLC raised its holdings in Qorvo by 3.2% in the 1st quarter. Empirical Finance LLC now owns 3,768 shares of the semiconductor company's stock valued at $433,000 after buying an additional 117 shares during the period. Hedge funds and other institutional investors own 88.57% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on QRVO. Raymond James increased their target price on shares of Qorvo from $115.00 to $135.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their price target on Qorvo from $100.00 to $115.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 31st. Piper Sandler reaffirmed a "neutral" rating and issued a $120.00 price objective (up from $105.00) on shares of Qorvo in a research note on Wednesday, July 31st. Rosenblatt Securities increased their target price on Qorvo from $105.00 to $120.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 31st. Finally, Barclays upped their price target on Qorvo from $100.00 to $125.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Qorvo has an average rating of "Hold" and an average price target of $121.00.

Qorvo Stock Performance

NASDAQ QRVO traded up $0.32 during trading hours on Friday, hitting $102.00. The company had a trading volume of 978,072 shares, compared to its average volume of 1,365,392. The business has a 50 day moving average of $108.18 and a 200-day moving average of $109.58. The company has a market cap of $9.68 billion, a PE ratio of -139.73, a price-to-earnings-growth ratio of 1.25 and a beta of 1.46. Qorvo, Inc. has a 1-year low of $80.62 and a 1-year high of $130.99. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.36 and a current ratio of 1.95.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.16. The firm had revenue of $886.70 million during the quarter, compared to analysts' expectations of $851.95 million. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. The business's revenue was up 36.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 EPS. As a group, equities research analysts expect that Qorvo, Inc. will post 4.84 EPS for the current year.

Insider Activity

In related news, VP Gina Harrison sold 689 shares of the firm'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 transaction, the vice president now owns 21,601 shares of the company's stock, valued at $2,325,779.67. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.46% of the company's stock.

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.