220,000 Shares in Qorvo, Inc. (NASDAQ:QRVO) Purchased by Clal Insurance Enterprises Holdings Ltd

Clal Insurance Enterprises Holdings Ltd acquired a new stake in Qorvo, Inc. (NASDAQ:QRVO) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 220,000 shares of the semiconductor company’s stock, valued at approximately $22,726,000. Clal Insurance Enterprises Holdings Ltd owned about 0.23% of Qorvo at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Qorvo in the second quarter valued at approximately $29,000. EverSource Wealth Advisors LLC grew its holdings in Qorvo by 81.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 115 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Qorvo by 9,333.3% in the 2nd quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 280 shares during the last quarter. New Millennium Group LLC purchased a new position in shares of Qorvo during the 2nd quarter worth $34,000. Finally, Blue Trust Inc. boosted its position in shares of Qorvo by 241.6% during the 2nd quarter. Blue Trust Inc. now owns 345 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 244 shares during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Trading Up 2.0 %

Shares of NASDAQ QRVO opened at $69.25 on Friday. The stock’s 50-day moving average is $90.84 and its two-hundred day moving average is $103.23. 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 $64.98 and a 1-year high of $130.99.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share 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 firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the company earned $1.99 earnings per share. The firm’s revenue was down 5.2% compared to the same quarter last year. Analysts anticipate that Qorvo, Inc. will post 3.37 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on QRVO. Needham & Company LLC began coverage on shares of Qorvo in a research note on Monday, October 28th. They set a “buy” rating and a $135.00 target price on the stock. Barclays reduced their price target on shares of Qorvo from $120.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 30th. Craig Hallum lowered their price objective on Qorvo from $142.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Bank of America reduced their target price on Qorvo from $115.00 to $80.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 30th. Finally, Loop Capital assumed coverage on Qorvo in a report on Monday, November 11th. They set a “hold” rating and a $73.00 price target for the company. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $102.88.

Insider Transactions at Qorvo

In other news, VP Gina Harrison sold 689 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $107.67, for a total value of $74,184.63. Following the transaction, the vice president now owns 21,601 shares in the company, valued at approximately $2,325,779.67. This represents a 3.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.46% of the company’s stock.

About Qorvo

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.