Clarius Group LLC acquired a new position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,310 shares of the semiconductor company's stock, valued at approximately $240,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in QRVO. City Holding Co. bought a new stake in shares of Qorvo in the 1st quarter valued at $25,000. Rakuten Securities Inc. acquired a new position in Qorvo in the fourth quarter valued at about $28,000. Huntington National Bank increased its holdings in shares of Qorvo by 47.1% in the fourth quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock worth $32,000 after acquiring an additional 145 shares in the last quarter. Curat Global LLC acquired a new stake in shares of Qorvo during the first quarter worth about $34,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Qorvo during the 4th quarter valued at about $37,000. Institutional investors own 88.57% of the company's stock.
Qorvo Stock Performance
Shares of QRVO traded down $0.39 during midday trading on Friday, reaching $79.91. The stock had a trading volume of 5,447,976 shares, compared to its average volume of 2,235,022. The firm has a 50 day simple moving average of $72.52 and a 200-day simple moving average of $72.88. Qorvo, Inc. has a one year low of $49.46 and a one year high of $130.99. The firm has a market cap of $7.43 billion, a PE ratio of 137.78, a P/E/G ratio of 2.14 and a beta of 1.37. The company has a current ratio of 2.77, a quick ratio of 1.95 and a debt-to-equity ratio of 0.46.
Qorvo (NASDAQ:QRVO - Get Free Report) last issued its earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.42. Qorvo had a net margin of 1.50% and a return on equity of 12.48%. The business had revenue of $869.47 million during the quarter, compared to the consensus estimate of $850.13 million. During the same period last year, the business posted $1.39 EPS. Qorvo's revenue was down 7.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Qorvo, Inc. will post 4.09 EPS for the current year.
Analyst Upgrades and Downgrades
Several analysts have commented on the stock. Benchmark upgraded shares of Qorvo from a "hold" rating to a "buy" rating and set a $95.00 target price on the stock in a report on Wednesday, April 30th. Stifel Nicolaus set a $75.00 price objective on shares of Qorvo in a research report on Monday, April 28th. TD Cowen lowered their target price on Qorvo from $90.00 to $80.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Barclays lifted their price target on Qorvo from $60.00 to $70.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Finally, Loop Capital reduced their price objective on Qorvo from $90.00 to $75.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $91.21.
Read Our Latest Analysis on Qorvo
Insider Buying and Selling at Qorvo
In other news, Director John R. Harding sold 1,450 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total transaction of $101,630.50. Following the completion of the sale, the director now owns 7,597 shares in the company, valued at approximately $532,473.73. This trade represents a 16.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.46% of the company's stock.
Qorvo Profile
(
Free Report)
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.
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