Edge Advisors LLC raised its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 119.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,540 shares of the semiconductor company’s stock after buying an additional 3,555 shares during the period. Edge Advisors LLC’s holdings in Qorvo were worth $461,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the business. Manning & Napier Advisors LLC boosted its position in shares of Qorvo by 52.5% during the third quarter. Manning & Napier Advisors LLC now owns 2,443,052 shares of the semiconductor company’s stock valued at $172,674,000 after buying an additional 840,755 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Qorvo by 4.3% in the third quarter. Ameriprise Financial Inc. now owns 4,657,995 shares of the semiconductor company’s stock valued at $329,228,000 after purchasing an additional 194,106 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Qorvo by 50.6% in the third quarter. SG Americas Securities LLC now owns 8,927 shares of the semiconductor company’s stock valued at $631,000 after purchasing an additional 3,001 shares during the period. Rhumbline Advisers boosted its holdings in shares of Qorvo by 1.0% in the third quarter. Rhumbline Advisers now owns 252,763 shares of the semiconductor company’s stock valued at $17,865,000 after purchasing an additional 2,548 shares during the period. Finally, Toronto Dominion Bank boosted its holdings in shares of Qorvo by 12.1% in the third quarter. Toronto Dominion Bank now owns 48,267 shares of the semiconductor company’s stock valued at $3,411,000 after purchasing an additional 5,219 shares during the period. Institutional investors and hedge funds own 92.36% of the company’s stock.
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A number of analysts recently issued reports on the company. J P Morgan Chase & Co set a $88.00 price target on Qorvo and gave the company a “buy” rating in a report on Wednesday, November 15th. Craig Hallum lowered Qorvo from a “buy” rating to a “hold” rating and lowered their price target for the company from $78.00 to $71.00 in a report on Thursday, November 2nd. Northland Securities lowered Qorvo from an “outperform” rating to a “market perform” rating in a report on Thursday, November 2nd. Drexel Hamilton reissued a “buy” rating and issued a $95.00 price objective on shares of Qorvo in a research note on Thursday, November 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $84.00 price objective on shares of Qorvo in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the company. Qorvo has an average rating of “Hold” and a consensus target price of $76.74.
Qorvo, Inc. (QRVO) traded up $1.45 during trading hours on Wednesday, reaching $80.59. 1,177,100 shares of the company’s stock traded hands, compared to its average volume of 1,502,928. Qorvo, Inc. has a one year low of $49.53 and a one year high of $81.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.71 and a current ratio of 3.80. The stock has a market capitalization of $10,062.50, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 1.33 and a beta of 1.03.
Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 EPS for the quarter, meeting the consensus estimate of $1.52. Qorvo had a negative net margin of 0.59% and a positive return on equity of 10.77%. The company had revenue of $821.60 million for the quarter, compared to analyst estimates of $810.47 million. During the same period in the prior year, the company earned $1.29 earnings per share. The firm’s revenue was down 5.0% on a year-over-year basis. research analysts predict that Qorvo, Inc. will post 4.74 EPS for the current year.
In other news, VP Gina Harrison sold 5,000 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $73.41, for a total transaction of $367,050.00. Following the sale, the vice president now directly owns 17,230 shares of the company’s stock, valued at approximately $1,264,854.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Steven E. Creviston sold 6,000 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $76.97, for a total transaction of $461,820.00. Following the sale, the vice president now directly owns 95,725 shares in the company, valued at $7,367,953.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,500 shares of company stock worth $3,513,885. Corporate insiders own 0.91% of the company’s stock.
Qorvo Company Profile
Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).
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