Quantbot Technologies LP boosted its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 102.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,771 shares of the semiconductor company's stock after buying an additional 20,662 shares during the period. Quantbot Technologies LP's holdings in Qorvo were worth $4,212,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of QRVO. Pacer Advisors Inc. grew its position in shares of Qorvo by 17,255.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company's stock worth $165,590,000 after buying an additional 1,418,784 shares during the period. Vulcan Value Partners LLC boosted its stake in Qorvo by 35.0% during the second quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company's stock worth $246,665,000 after acquiring an additional 550,111 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Qorvo by 140.2% in the third quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company's stock worth $86,290,000 after purchasing an additional 487,621 shares during the period. Caxton Associates LP acquired a new stake in Qorvo in the second quarter worth $34,812,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in Qorvo by 78.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company's stock valued at $55,548,000 after purchasing an additional 236,590 shares in the last quarter. Institutional investors own 88.57% of the company's stock.
Insider Buying and Selling
In other Qorvo news, VP Gina Harrison sold 689 shares of the firm's stock in a transaction on Friday, September 6th. The stock was sold at an average price of $107.67, for a total value of $74,184.63. Following the completion of the sale, the vice president now directly owns 21,601 shares of the company's stock, valued at $2,325,779.67. This trade represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.46% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on QRVO shares. TD Cowen cut their price objective on shares of Qorvo from $125.00 to $85.00 and set a "hold" rating on the stock in a research report on Wednesday, October 30th. Raymond James lowered Qorvo from an "outperform" rating to a "market perform" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. decreased their price objective on Qorvo from $115.00 to $95.00 and set an "underweight" rating for the company in a report on Wednesday, October 30th. Benchmark cut Qorvo from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. Finally, StockNews.com downgraded shares of Qorvo from a "buy" rating to a "hold" rating in a research report on Thursday, October 31st. Two equities research 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 has an average rating of "Hold" and a consensus price target of $102.88.
Check Out Our Latest Stock Analysis on QRVO
Qorvo Stock Performance
Shares of Qorvo stock traded up $0.25 during mid-day trading on Wednesday, hitting $68.40. 1,249,857 shares of the stock were exchanged, compared to its average volume of 1,452,538. Qorvo, Inc. has a 12 month low of $64.98 and a 12 month high of $130.99. The company has a 50-day simple moving average of $88.82 and a 200 day simple moving average of $102.74. The company has a market capitalization of $6.47 billion, a P/E ratio of -46.68, a P/E/G ratio of 5.59 and a beta of 1.49. 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 issued its quarterly 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. The business had revenue of $1.05 billion for 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 quarterly revenue was down 5.2% compared to the same quarter last year. During the same period last year, the company posted $1.99 earnings per share. Sell-side analysts anticipate that Qorvo, Inc. will post 3.37 earnings per share for the current fiscal year.
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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