Thrivent Financial for Lutherans Has $86.29 Million Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Thrivent Financial for Lutherans raised its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 140.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 835,336 shares of the semiconductor company's stock after purchasing an additional 487,621 shares during the quarter. Thrivent Financial for Lutherans owned about 0.88% of Qorvo worth $86,290,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in QRVO. GDS Wealth Management bought a new stake in shares of Qorvo in the 3rd quarter worth about $2,171,000. Robeco Institutional Asset Management B.V. increased its position in shares of Qorvo by 78.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company's stock worth $55,548,000 after purchasing an additional 236,590 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Qorvo by 1,361.9% in the 1st 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 last quarter. Canada Pension Plan Investment Board increased its position in shares of Qorvo by 23.8% in 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. increased its position in shares of Qorvo by 21.9% in the 2nd quarter. APG Asset Management N.V. now owns 101,243 shares of the semiconductor company's stock worth $10,962,000 after purchasing an additional 18,178 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company's stock.

Insiders Place Their Bets

In other news, VP Gina Harrison sold 689 shares of the company's stock in a transaction that occurred on 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 $2,325,779.67. The trade was a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.46% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. BNP Paribas downgraded shares of Qorvo from an "outperform" rating to a "neutral" rating and set a $80.00 price objective for the company. in a research report 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. TD Cowen lowered their price objective on shares of Qorvo from $125.00 to $85.00 and set a "hold" rating for the company in a research report on Wednesday, October 30th. Bank of America lowered their price objective on shares of Qorvo from $115.00 to $80.00 and set an "underperform" rating for the company in a research report on Wednesday, October 30th. Finally, Rosenblatt Securities boosted their price objective on shares of Qorvo from $105.00 to $120.00 and gave the company a "neutral" rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $102.88.

Qorvo Stock Up 1.1 %

Shares of NASDAQ QRVO traded up $0.71 during trading hours on Monday, hitting $66.32. The stock had a trading volume of 1,618,624 shares, compared to its average volume of 1,431,448. The company has a market capitalization of $6.27 billion, a P/E ratio of -45.42, a P/E/G ratio of 5.26 and a beta of 1.49. The firm's 50-day moving average price is $93.20 and its two-hundred day moving average price is $103.96. Qorvo, Inc. has a 52 week low of $65.35 and a 52 week high of $130.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90.

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

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.