Qorvo, Inc. (NASDAQ:QRVO) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI boosted its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 83.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,432 shares of the semiconductor company's stock after acquiring an additional 21,966 shares during the quarter. National Bank of Canada FI owned 0.05% of Qorvo worth $5,003,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vulcan Value Partners LLC grew its holdings 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 worth $246,665,000 after purchasing an additional 550,111 shares during the last quarter. Pacer Advisors Inc. grew its stake in Qorvo by 7.1% in the 3rd quarter. Pacer Advisors Inc. now owns 1,528,748 shares of the semiconductor company's stock worth $157,920,000 after acquiring an additional 101,742 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Qorvo by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,323,463 shares of the semiconductor company's stock worth $153,558,000 after acquiring an additional 4,386 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Qorvo by 140.2% during the third 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 in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Qorvo by 23.9% in the third quarter. Van ECK Associates Corp now owns 832,292 shares of the semiconductor company's stock valued at $83,429,000 after purchasing an additional 160,534 shares during the period. Institutional investors own 88.57% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on QRVO shares. Morgan Stanley lowered Qorvo from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $130.00 to $120.00 in a research report on Friday, October 11th. TD Cowen decreased their price objective on Qorvo from $125.00 to $85.00 and set a "hold" rating for the company in a report on Wednesday, October 30th. BNP Paribas cut shares of Qorvo from an "outperform" rating to a "neutral" rating and set a $80.00 target price on the stock. in a report on Wednesday, October 30th. Benchmark lowered shares of Qorvo from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. Finally, Needham & Company LLC assumed coverage on shares of Qorvo in a research report on Monday, October 28th. They issued a "buy" rating and a $135.00 price target for the company. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Qorvo presently has an average rating of "Hold" and an average price target of $102.88.

Insider Activity at Qorvo

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of the firm's stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total transaction of $283,756.75. Following the completion of the transaction, the senior vice president now directly owns 30,261 shares of the company's stock, valued at approximately $2,122,809.15. This trade represents a 11.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by insiders.

Qorvo Trading Down 0.1 %

Shares of QRVO stock traded down $0.05 during trading hours on Friday, reaching $69.59. 2,628,408 shares of the company's stock were exchanged, compared to its average volume of 1,474,026. Qorvo, Inc. has a 1 year low of $64.54 and a 1 year 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 stock's fifty day moving average price is $80.88 and its two-hundred day moving average price is $100.23.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.03. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The company had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period last year, the business earned $1.99 EPS. Qorvo's revenue for the quarter was down 5.2% on a year-over-year basis. As a group, equities research analysts expect that Qorvo, Inc. will post 3.37 EPS for the current year.

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.