Dimensional Fund Advisors LP Acquires 264,167 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Dimensional Fund Advisors LP increased its holdings in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 22.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,419,698 shares of the semiconductor company's stock after purchasing an additional 264,167 shares during the period. Dimensional Fund Advisors LP owned approximately 1.52% of Qorvo worth $99,280,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QRVO. Rakuten Securities Inc. bought a new stake in Qorvo in the fourth quarter valued at $28,000. Huntington National Bank increased its position in shares of Qorvo by 47.1% during the 4th quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 145 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Qorvo during the 4th quarter worth about $37,000. Versant Capital Management Inc lifted its holdings in Qorvo by 89.7% during the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company's stock valued at $42,000 after purchasing an additional 286 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its position in Qorvo by 67.4% in the fourth quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company's stock valued at $43,000 after buying an additional 250 shares in the last quarter. Institutional investors own 88.57% of the company's stock.

Qorvo Trading Up 3.1 %

QRVO traded up $2.13 during mid-day trading on Friday, hitting $71.94. The stock had a trading volume of 429,714 shares, compared to its average volume of 2,170,104. Qorvo, Inc. has a 1-year low of $49.46 and a 1-year high of $130.99. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of 256.82, a price-to-earnings-growth ratio of 15.57 and a beta of 1.43. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. The stock's fifty day simple moving average is $66.52 and its 200-day simple moving average is $73.35.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.42. Qorvo had a return on equity of 12.41% and a net margin of 0.71%. The firm had revenue of $869.47 million for the quarter, compared to analyst estimates of $850.13 million. During the same period in the previous year, the company posted $1.39 earnings per share. The company's revenue for the quarter was down 7.6% on a year-over-year basis. As a group, research analysts forecast that Qorvo, Inc. will post 4.09 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on QRVO. Piper Sandler raised shares of Qorvo from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $85.00 to $110.00 in a report on Monday, January 27th. Barclays lifted their price objective on Qorvo from $60.00 to $70.00 and gave the company an "equal weight" rating in a research report on Wednesday. The Goldman Sachs Group lowered their target price on Qorvo from $99.00 to $78.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Needham & Company LLC reduced their price target on shares of Qorvo from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, StockNews.com raised shares of Qorvo from a "hold" rating to a "buy" rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Qorvo presently has an average rating of "Hold" and an average price target of $91.21.

Qorvo 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.