Qorvo, Inc. (NASDAQ:QRVO) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP increased its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 75.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 320,781 shares of the semiconductor company's stock after acquiring an additional 137,524 shares during the period. Wellington Management Group LLP owned approximately 0.34% of Qorvo worth $33,137,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QRVO. Pacer Advisors Inc. grew its position in Qorvo by 17,255.9% in the second quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company's stock worth $165,590,000 after acquiring an additional 1,418,784 shares in the last quarter. Vulcan Value Partners LLC boosted its position in shares of Qorvo by 35.0% during the second quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company's stock valued at $246,665,000 after buying an additional 550,111 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Qorvo by 140.2% during the third quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company's stock valued at $86,290,000 after buying an additional 487,621 shares during the period. Caxton Associates LP purchased a new position in shares of Qorvo during the second quarter valued at approximately $34,812,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Qorvo by 78.6% during 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 buying an additional 236,590 shares during the period. Hedge funds and other institutional investors own 88.57% of the company's stock.

Insiders Place Their Bets

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of the company's stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $70.15, for a total value of $283,756.75. Following the completion of the transaction, the senior vice president now owns 30,261 shares in the company, valued at approximately $2,122,809.15. This represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.46% of the company's stock.

Qorvo Stock Down 1.8 %

NASDAQ:QRVO traded down $1.27 during mid-day trading on Friday, hitting $68.37. The company's stock had a trading volume of 945,726 shares, compared to its average volume of 1,471,728. Qorvo, Inc. has a 1 year low of $64.54 and a 1 year high of $130.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38. The business's fifty day moving average is $80.88 and its two-hundred day moving average is $100.23.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the company earned $1.99 earnings per share. The firm's revenue was down 5.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Qorvo, Inc. will post 3.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on QRVO. Susquehanna dropped their target price on Qorvo from $115.00 to $90.00 and set a "neutral" rating for the company in a research report on Wednesday, October 30th. StockNews.com raised shares of Qorvo from a "hold" rating to a "buy" rating in a research note on Monday. Morgan Stanley downgraded shares of Qorvo from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $130.00 to $120.00 in a research note on Friday, October 11th. Craig Hallum decreased their price target on shares of Qorvo from $142.00 to $105.00 and set a "buy" rating for the company in a research note on Wednesday, October 30th. Finally, Barclays decreased their price target on shares of Qorvo from $120.00 to $90.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $102.88.

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.