Mackenzie Financial Corp acquired a new position in shares of Qorvo Inc (NASDAQ:QRVO) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,602 shares of the semiconductor company’s stock, valued at approximately $440,000.
A number of other institutional investors also recently bought and sold shares of QRVO. Raymond James Financial Services Advisors Inc. increased its position in Qorvo by 67.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 7,887 shares of the semiconductor company’s stock worth $557,000 after purchasing an additional 3,184 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Qorvo during the 3rd quarter worth about $580,000. BNP Paribas Arbitrage SA increased its position in Qorvo by 39.6% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 85,762 shares of the semiconductor company’s stock worth $6,062,000 after purchasing an additional 24,323 shares in the last quarter. Sei Investments Co. increased its position in Qorvo by 24.5% during the 3rd quarter. Sei Investments Co. now owns 30,000 shares of the semiconductor company’s stock worth $2,120,000 after purchasing an additional 5,905 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in Qorvo by 49.6% during the 3rd quarter. CIBC Asset Management Inc now owns 13,264 shares of the semiconductor company’s stock worth $937,000 after purchasing an additional 4,398 shares in the last quarter. Hedge funds and other institutional investors own 97.58% of the company’s stock.
A number of analysts recently commented on QRVO shares. JPMorgan Chase & Co. set a $88.00 price objective on Qorvo and gave the stock a “buy” rating in a research report on Wednesday, November 15th. BidaskClub cut Qorvo from a “hold” rating to a “sell” rating in a report on Wednesday, December 6th. ValuEngine cut Qorvo from a “buy” rating to a “hold” rating in a report on Saturday, December 9th. Morgan Stanley lifted their price target on Qorvo from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Wednesday, December 13th. Finally, Zacks Investment Research upgraded Qorvo from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Qorvo has a consensus rating of “Hold” and an average price target of $81.47.
Qorvo Inc (QRVO) opened at $83.42 on Wednesday. The firm has a market capitalization of $10,660.00, a PE ratio of 86.00, a PEG ratio of 1.50 and a beta of 0.81. Qorvo Inc has a 52 week low of $62.68 and a 52 week high of $86.84. The company has a quick ratio of 3.62, a current ratio of 4.72 and a debt-to-equity ratio of 0.23.
Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.09. The business had revenue of $845.70 million for the quarter, compared to analyst estimates of $841.09 million. Qorvo had a return on equity of 11.72% and a net margin of 0.95%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.35 EPS. sell-side analysts anticipate that Qorvo Inc will post 4.49 earnings per share for the current fiscal year.
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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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