15,648 Shares in Qorvo, Inc. (NASDAQ:QRVO) Bought by Oddo BHF Asset Management Sas

Oddo BHF Asset Management Sas 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 Form 13F filing with the Securities & Exchange Commission. The firm bought 15,648 shares of the semiconductor company's stock, valued at approximately $1,616,000.

Other institutional investors have also bought and sold shares of the company. Cetera Advisors LLC grew its stake in shares of Qorvo by 40.9% in the 1st quarter. Cetera Advisors LLC now owns 2,542 shares of the semiconductor company's stock valued at $292,000 after buying an additional 738 shares during the period. Swedbank AB acquired a new position in Qorvo during the second quarter worth $3,876,000. 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. Gradient Investments LLC bought a new stake in shares of Qorvo during the second quarter worth about $58,000. Finally, Hennion & Walsh Asset Management Inc. lifted its position in Qorvo by 45.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 2,871 shares of the semiconductor company's stock valued at $333,000 after acquiring an additional 897 shares in the last quarter. Institutional investors own 88.57% of the company's stock.

Insider Activity at Qorvo

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

Qorvo Trading Down 0.1 %

Shares of Qorvo stock traded down $0.05 during trading on Friday, reaching $69.59. The company's stock had a trading volume of 2,631,489 shares, compared to its average volume of 1,478,963. The company has a market cap of $6.58 billion, a price-to-earnings ratio of -47.66, a PEG ratio of 5.53 and a beta of 1.42. The firm's 50-day moving average is $80.23 and its two-hundred day moving average is $100.04. Qorvo, Inc. has a 52-week low of $64.54 and a 52-week high of $130.99. The company has a quick ratio of 1.38, a current ratio of 1.90 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, beating analysts' consensus estimates 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 positive return on equity of 13.81% and a negative net margin of 3.58%. Qorvo's revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.99 EPS. On average, sell-side analysts anticipate that Qorvo, Inc. will post 3.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. TD Cowen lowered their price objective on Qorvo from $125.00 to $85.00 and set a "hold" rating for the company in a research note on Wednesday, October 30th. Raymond James downgraded shares of Qorvo from an "outperform" rating to a "market perform" rating in a research report on Wednesday, October 30th. Craig Hallum reduced their price objective on Qorvo from $142.00 to $105.00 and set a "buy" rating for the company in a report on Wednesday, October 30th. UBS Group lowered their target price on Qorvo from $115.00 to $90.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Qorvo from $115.00 to $95.00 and set an "underweight" rating on the stock in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $102.88.

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.