Qorvo, Inc. (NASDAQ:QRVO) Shares Acquired by Kestra Investment Management LLC

Kestra Investment Management LLC increased its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 61.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,403 shares of the semiconductor company’s stock after purchasing an additional 2,441 shares during the period. Kestra Investment Management LLC’s holdings in Qorvo were worth $661,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Pacer Advisors Inc. raised its holdings in shares of Qorvo by 17,255.9% in the second quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company’s stock valued at $165,590,000 after buying an additional 1,418,784 shares during the last quarter. Vulcan Value Partners LLC lifted its position in Qorvo by 35.0% during the 2nd quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company’s stock worth $246,665,000 after acquiring an additional 550,111 shares during the period. Thrivent Financial for Lutherans lifted its position in Qorvo by 140.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company’s stock worth $86,290,000 after acquiring an additional 487,621 shares during the period. Caxton Associates LP purchased a new position in shares of Qorvo in the 2nd quarter valued at approximately $34,812,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Qorvo by 78.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company’s stock valued at $55,548,000 after purchasing an additional 236,590 shares during the period. 88.57% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Qorvo

In other news, VP Gina Harrison sold 689 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $107.67, for a total value of $74,184.63. Following the sale, the vice president now directly owns 21,601 shares in the company, valued at $2,325,779.67. This represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on QRVO. BNP Paribas downgraded Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price target for the company. in a report on Wednesday, October 30th. Barclays lowered their target price on shares of Qorvo from $120.00 to $90.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 30th. Needham & Company LLC initiated coverage on shares of Qorvo in a report on Monday, October 28th. They set a “buy” rating and a $135.00 price target for the company. Morgan Stanley lowered Qorvo from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $130.00 to $120.00 in a report on Friday, October 11th. Finally, StockNews.com downgraded Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $102.88.

Qorvo Trading Up 1.0 %

NASDAQ:QRVO opened at $69.05 on Monday. Qorvo, Inc. has a 52-week low of $64.98 and a 52-week high of $130.99. The company has a quick ratio of 1.38, a current ratio of 1.90 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $86.84 and a 200-day simple moving average of $102.08. The company has a market capitalization of $6.53 billion, a PE ratio of -47.29, a price-to-earnings-growth ratio of 5.53 and a beta of 1.49.

Qorvo (NASDAQ:QRVO) last announced 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. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.99 earnings per share. On average, equities research analysts expect that Qorvo, Inc. will post 3.37 earnings per share for the current fiscal year.

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.