Quadrature Capital Ltd purchased a new stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 18,386 shares of the semiconductor company's stock, valued at approximately $1,899,000.
A number of other institutional investors also recently modified their holdings of QRVO. Larson Financial Group LLC grew its position in Qorvo by 163.4% in the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 201 shares in the last quarter. New Millennium Group LLC acquired a new position in shares of Qorvo during the 2nd quarter worth about $34,000. Blue Trust Inc. grew its holdings in shares of Qorvo by 241.6% in the 2nd quarter. Blue Trust Inc. now owns 345 shares of the semiconductor company's stock valued at $40,000 after acquiring an additional 244 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Qorvo in the third quarter valued at about $41,000. Finally, Farther Finance Advisors LLC raised its holdings in Qorvo by 33.7% during the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company's stock worth $43,000 after acquiring an additional 104 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors.
Insider Activity at Qorvo
In other news, SVP Philip Chesley sold 4,045 shares of the company's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $70.15, for a total transaction of $283,756.75. Following the sale, the senior vice president now directly owns 30,261 shares in the company, valued at $2,122,809.15. This represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.46% of the stock is currently owned by corporate insiders.
Qorvo Price Performance
Shares of QRVO stock traded down $0.36 during trading hours on Friday, reaching $68.33. The company's stock had a trading volume of 4,499,485 shares, compared to its average volume of 1,817,977. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of -46.80, a PEG ratio of 5.62 and a beta of 1.42. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two 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. The firm's 50 day simple moving average is $83.48 and its 200-day simple moving average is $101.04.
Qorvo (NASDAQ:QRVO - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $1.03 billion. During the same quarter last year, the business posted $1.99 EPS. Qorvo's quarterly revenue was down 5.2% compared to the same quarter last year. Sell-side analysts forecast that Qorvo, Inc. will post 3.37 earnings per share for the current year.
Wall Street Analysts Forecast Growth
QRVO has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Qorvo from $115.00 to $95.00 and set an "underweight" rating for the company in a research note on Wednesday, October 30th. Needham & Company LLC initiated coverage on shares of Qorvo in a research note on Monday, October 28th. They issued a "buy" rating and a $135.00 target price for the company. Benchmark downgraded Qorvo from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Bank of America cut their price objective on Qorvo from $115.00 to $80.00 and set an "underperform" rating for the company in a research report on Wednesday, October 30th. Finally, BNP Paribas lowered 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. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $102.88.
View Our Latest Analysis on QRVO
Qorvo Company Profile
(
Free Report)
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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