Marshall Wace North America L.P. increased its position in shares of Qorvo Inc (NASDAQ:QRVO) by 574.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 209,034 shares of the semiconductor company’s stock after acquiring an additional 178,030 shares during the quarter. Marshall Wace North America L.P. owned about 0.17% of Qorvo worth $16,073,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in QRVO. NEXT Financial Group Inc bought a new position in Qorvo during the 3rd quarter worth approximately $110,000. Piedmont Investment Advisors LLC bought a new position in Qorvo during the 2nd quarter worth approximately $119,000. National Pension Service bought a new position in Qorvo during the 3rd quarter worth approximately $159,000. Huntington National Bank boosted its stake in Qorvo by 2,381.0% during the 3rd quarter. Huntington National Bank now owns 2,084 shares of the semiconductor company’s stock worth $160,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in Qorvo by 216.5% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,225 shares of the semiconductor company’s stock worth $171,000 after acquiring an additional 1,522 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.
QRVO has been the topic of several recent analyst reports. UBS Group reduced their price objective on shares of Qorvo from $83.00 to $68.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 14th. Morgan Stanley dropped their target price on shares of Qorvo from $75.00 to $72.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 3rd. KeyCorp dropped their target price on shares of Qorvo from $95.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, November 14th. Craig Hallum dropped their target price on shares of Qorvo from $76.00 to $74.00 and set a “hold” rating on the stock in a report on Monday, November 19th. Finally, ValuEngine downgraded shares of Qorvo from a “hold” rating to a “sell” rating in a report on Tuesday, November 6th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $80.38.
In related news, VP Steven E. Creviston sold 3,000 shares of the business’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $74.88, for a total transaction of $224,640.00. Following the transaction, the vice president now directly owns 76,446 shares in the company, valued at $5,724,276.48. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Robert A. Bruggeworth sold 5,000 shares of the business’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $73.98, for a total transaction of $369,900.00. Following the transaction, the insider now owns 185,172 shares in the company, valued at $13,699,024.56. The disclosure for this sale can be found here. Insiders sold 32,449 shares of company stock worth $2,295,575 over the last quarter. 0.85% of the stock is owned by corporate insiders.
NASDAQ QRVO opened at $61.13 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.48 and a current ratio of 3.50. Qorvo Inc has a 12-month low of $60.79 and a 12-month high of $86.84. The company has a market capitalization of $7.83 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.07 and a beta of 0.88.
Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Wednesday, October 31st. The semiconductor company reported $1.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.13. Qorvo had a negative net margin of 1.41% and a positive return on equity of 13.65%. The company had revenue of $884.40 million for the quarter, compared to the consensus estimate of $855.57 million. During the same period last year, the company earned $1.52 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, analysts predict that Qorvo Inc will post 5.32 EPS for the current fiscal year.
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Qorvo Company Profile
Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.
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