Headlands Technologies LLC Raises Stake in Qorvo, Inc. (NASDAQ:QRVO)

Key Points

• Headlands Technologies LLC significantly increased its stake in Qorvo, Inc. by 174.7% during the first quarter, holding 37,726 shares valued at approximately $2.73 million.
• Analysts have varying opinions on Qorvo's stock, with a recent price target raised to $125.00 by Benchmark, while others maintain "sell" and "hold" ratings.
• Qorvo reported earnings of $0.92 per share for the recent quarter, exceeding expectations, with total revenue of $818.8 million, reflecting a 7.7% year-over-year decline.

Headlands Technologies LLC increased its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 174.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,726 shares of the semiconductor company's stock after acquiring an additional 23,992 shares during the period. Headlands Technologies LLC's holdings in Qorvo were worth $2,732,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. City Holding Co. purchased a new position in shares of Qorvo in the 1st quarter worth about $25,000. Larson Financial Group LLC increased its stake in Qorvo by 222.6% during the 1st quarter. Larson Financial Group LLC now owns 429 shares of the semiconductor company's stock valued at $31,000 after purchasing an additional 296 shares in the last quarter. Curat Global LLC purchased a new position in Qorvo in the first quarter worth about $34,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Qorvo in the first quarter worth approximately $34,000. Finally, Signaturefd LLC grew its holdings in shares of Qorvo by 34.6% during the first quarter. Signaturefd LLC now owns 662 shares of the semiconductor company's stock valued at $48,000 after buying an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barclays boosted their price objective on shares of Qorvo from $70.00 to $90.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Craig Hallum restated a "buy" rating on shares of Qorvo in a research note on Wednesday, July 30th. Citigroup reaffirmed a "sell" rating on shares of Qorvo in a research report on Tuesday, June 10th. Susquehanna reissued a "neutral" rating and issued a $95.00 target price (up previously from $90.00) on shares of Qorvo in a research report on Wednesday, July 30th. Finally, Benchmark upped their target price on shares of Qorvo from $95.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $95.35.

Qorvo Trading Down 0.9%

Shares of QRVO stock opened at $84.19 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.81 and a quick ratio of 2.01. The company has a market cap of $7.80 billion, a price-to-earnings ratio of 99.05, a PEG ratio of 1.66 and a beta of 1.35. Qorvo, Inc. has a 1 year low of $49.46 and a 1 year high of $117.90. The firm has a fifty day moving average price of $83.78 and a 200-day moving average price of $76.30.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, beating 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 business had revenue of $818.80 million during the quarter, compared to analyst estimates of $775.61 million. During the same quarter in the previous year, the company posted $0.87 earnings per share. Qorvo's revenue for the quarter was down 7.7% on a year-over-year basis. As a group, equities analysts predict that Qorvo, Inc. will post 4.09 earnings per share for the current year.

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.

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