Systematic Financial Management LP Buys 15,093 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Systematic Financial Management LP boosted its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 8.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,967 shares of the semiconductor company's stock after purchasing an additional 15,093 shares during the period. Systematic Financial Management LP owned about 0.20% of Qorvo worth $19,624,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of QRVO. EverSource Wealth Advisors LLC increased its position in Qorvo by 81.0% during the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company's stock worth $30,000 after buying an additional 115 shares in the last quarter. New Millennium Group LLC purchased a new position in Qorvo during the second quarter worth $34,000. Larson Financial Group LLC increased its position in Qorvo by 163.4% during the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company's stock worth $33,000 after buying an additional 201 shares in the last quarter. Blue Trust Inc. increased its position in Qorvo by 241.6% during the second quarter. Blue Trust Inc. now owns 345 shares of the semiconductor company's stock worth $40,000 after buying an additional 244 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Qorvo during the third quarter worth $41,000. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Trading Down 2.0 %

Shares of NASDAQ:QRVO traded down $1.39 on Thursday, reaching $68.69. 1,359,498 shares of the company traded hands, compared to its average volume of 1,451,303. Qorvo, Inc. has a fifty-two week low of $64.98 and a fifty-two week high of $130.99. The company's 50 day moving average is $84.91 and its 200-day moving average is $101.47. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38.

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on QRVO shares. StockNews.com downgraded Qorvo from a "buy" rating to a "hold" rating in a research report on Thursday, October 31st. Bank of America reduced their price objective on Qorvo from $115.00 to $80.00 and set an "underperform" rating on the stock in a research note on Wednesday, October 30th. Craig Hallum cut their price target on Qorvo from $142.00 to $105.00 and set a "buy" rating on the stock in a research note on Wednesday, October 30th. TD Cowen cut their price target on Qorvo from $125.00 to $85.00 and set a "hold" rating on the stock in a research note on Wednesday, October 30th. Finally, Barclays lowered their price objective on Qorvo from $120.00 to $90.00 and set an "equal weight" rating for the company 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. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $102.88.

Insider Buying and Selling at Qorvo

In other Qorvo news, VP Gina Harrison sold 689 shares of the business's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the sale, the vice president now directly owns 21,601 shares of the company's stock, valued at $2,325,779.67. The trade was a 3.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.46% of the company's stock.

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.