Dynamic Technology Lab Private Ltd Acquires Shares of 24,262 Qorvo, Inc. (NASDAQ:QRVO)

Dynamic Technology Lab Private Ltd acquired a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 24,262 shares of the semiconductor company’s stock, valued at approximately $2,507,000.

Other hedge funds also recently made changes to their positions in the company. Mather Group LLC. raised its holdings in Qorvo by 5.6% during the second quarter. Mather Group LLC. now owns 1,812 shares of the semiconductor company’s stock worth $208,000 after purchasing an additional 96 shares in the last quarter. Farther Finance Advisors LLC increased its position in Qorvo by 33.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 104 shares during the period. V Square Quantitative Management LLC raised its stake in shares of Qorvo by 5.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company’s stock worth $231,000 after buying an additional 107 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 during the period. Finally, American Trust boosted its stake in shares of Qorvo by 5.8% in the second quarter. American Trust now owns 2,110 shares of the semiconductor company’s stock valued at $245,000 after buying an additional 115 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Stock Performance

QRVO stock opened at $69.25 on Monday. 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 stock has a 50-day moving average price of $90.08 and a two-hundred day moving average price of $103.14. Qorvo, Inc. has a 12-month low of $64.98 and a 12-month 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.03. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business earned $1.99 EPS. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. Sell-side analysts expect that Qorvo, Inc. will post 3.37 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Gina Harrison sold 689 shares of Qorvo stock in a transaction on Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction 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. The trade was 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. 0.46% of the stock is owned by insiders.

Analysts Set New Price Targets

QRVO has been the subject of several research analyst reports. UBS Group cut their price objective on Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Rosenblatt Securities increased their price target on shares of Qorvo from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Benchmark cut shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Raymond James lowered shares of Qorvo from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Finally, TD Cowen dropped their target price on shares of Qorvo from $125.00 to $85.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $102.88.

Qorvo Company 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.