Virtu Financial LLC Invests $1.21 Million in Qorvo, Inc. (NASDAQ:QRVO)

Virtu Financial LLC purchased a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 11,720 shares of the semiconductor company's stock, valued at approximately $1,211,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cetera Advisors LLC raised its holdings in shares of Qorvo by 40.9% in the 1st quarter. Cetera Advisors LLC now owns 2,542 shares of the semiconductor company's stock valued at $292,000 after buying an additional 738 shares during the period. Swedbank AB purchased a new stake in Qorvo during the second quarter worth about $3,876,000. Blue Trust Inc. lifted its position in shares of 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 purchasing an additional 244 shares in the last quarter. Gradient Investments LLC purchased a new position in shares of Qorvo in the second quarter valued at approximately $58,000. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of Qorvo by 45.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 2,871 shares of the semiconductor company's stock valued at $333,000 after purchasing an additional 897 shares in the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Needham & Company LLC assumed coverage on shares of Qorvo in a report on Monday, October 28th. They set a "buy" rating and a $135.00 target price on the stock. Barclays reduced their price objective on Qorvo from $120.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 30th. Loop Capital started coverage on Qorvo in a research note on Monday, November 11th. They set a "hold" rating and a $73.00 target price for the company. BNP Paribas downgraded Qorvo from an "outperform" rating to a "neutral" rating and set a $80.00 price target on the stock. in a report on Wednesday, October 30th. Finally, Morgan Stanley downgraded Qorvo from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $130.00 to $120.00 in a research report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $102.88.

Qorvo Stock Performance

NASDAQ QRVO traded down $0.05 during trading hours on Friday, hitting $69.59. The company had a trading volume of 2,631,489 shares, compared to its average volume of 1,478,963. The business has a 50 day moving average of $80.23 and a 200-day moving average of $100.03. 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, Inc. has a 1-year low of $64.54 and a 1-year high of $130.99. The company has a market cap of $6.58 billion, a PE ratio of -47.66, a price-to-earnings-growth ratio of 5.53 and a beta of 1.42.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its quarterly 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. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the business posted $1.99 EPS. The firm's quarterly revenue was down 5.2% compared to the same quarter last year. As a group, equities research analysts expect that Qorvo, Inc. will post 3.37 EPS for the current year.

Insider Activity

In related news, SVP Philip Chesley sold 4,045 shares of the firm'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 transaction, the senior vice president now owns 30,261 shares of the company's stock, valued at $2,122,809.15. This trade represents a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.46% of the company's stock.

Qorvo 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.