Boston Partners Has $8.27 Million Stock Position in Qorvo, Inc. $QRVO

Key Points

• Boston Partners increased its stake in Qorvo by 3.3% in Q1, acquiring 3,666 shares to own 114,375 shares valued at approximately $8.27 million.
• Several large investors, including Envestnet Asset Management and Dimensional Fund Advisors, have recently boosted their holdings in Qorvo, indicating strong institutional interest in the company.
• Analysts have raised price targets for Qorvo, with ratings ranging from "sell" to "strong buy", reflecting varying confidence in the company's future performance.

Boston Partners boosted its position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 3.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 114,375 shares of the semiconductor company's stock after acquiring an additional 3,666 shares during the period. Boston Partners owned approximately 0.12% of Qorvo worth $8,272,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its stake in shares of Qorvo by 25.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 37,651 shares of the semiconductor company's stock valued at $2,633,000 after purchasing an additional 7,536 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Qorvo in the 4th quarter valued at approximately $1,327,000. Mariner LLC grew its stake in shares of Qorvo by 8.7% in the 4th quarter. Mariner LLC now owns 16,296 shares of the semiconductor company's stock valued at $1,140,000 after purchasing an additional 1,298 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in shares of Qorvo by 107.4% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 134,809 shares of the semiconductor company's stock valued at $9,426,000 after purchasing an additional 69,823 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Qorvo by 22.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,419,698 shares of the semiconductor company's stock valued at $99,280,000 after purchasing an additional 264,167 shares during the period. 88.57% of the stock is currently owned by institutional investors.

Qorvo Trading Down 0.1%

NASDAQ:QRVO traded down $0.10 during trading hours on Monday, hitting $89.25. 1,149,012 shares of the stock were exchanged, compared to its average volume of 1,991,531. The company's 50 day moving average is $85.53 and its two-hundred day moving average is $76.30. Qorvo, Inc. has a twelve month low of $49.46 and a twelve month high of $117.90. The company has a quick ratio of 2.01, a current ratio of 2.81 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $8.27 billion, a P/E ratio of 105.00, a price-to-earnings-growth ratio of 1.74 and a beta of 1.35.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.30. Qorvo had a return on equity of 12.63% and a net margin of 2.21%. The firm had revenue of $818.80 million for the quarter, compared to the consensus estimate of $775.61 million. During the same quarter in the prior year, the business earned $0.87 EPS. The business's revenue for the quarter was down 7.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on QRVO shares. Craig Hallum reiterated a "buy" rating on shares of Qorvo in a research note on Wednesday, July 30th. Needham & Company LLC boosted their target price on Qorvo from $90.00 to $104.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Wall Street Zen raised Qorvo from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Loop Capital boosted their target price on Qorvo from $75.00 to $90.00 and gave the stock a "hold" rating in a report on Wednesday, July 30th. Finally, Barclays boosted their target price on Qorvo from $70.00 to $90.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $95.35.

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.