Jefferies Financial Group Inc. acquired a new position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,565 shares of the semiconductor company's stock, valued at approximately $331,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in Qorvo by 10.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,561 shares of the semiconductor company's stock valued at $547,000 after buying an additional 717 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Qorvo in the 1st quarter valued at $963,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Qorvo by 36.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 38,576 shares of the semiconductor company's stock valued at $2,786,000 after purchasing an additional 10,209 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Qorvo by 22.3% during the 4th quarter. Cetera Investment Advisers now owns 10,364 shares of the semiconductor company's stock valued at $725,000 after purchasing an additional 1,892 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Qorvo by 99.1% during the first quarter. GAMMA Investing LLC now owns 3,665 shares of the semiconductor company's stock valued at $265,000 after purchasing an additional 1,824 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several analysts have recently issued reports on QRVO shares. Needham & Company LLC upped their price objective on Qorvo from $90.00 to $104.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Barclays lifted their price objective on shares of Qorvo from $70.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. TD Cowen upped their target price on shares of Qorvo from $80.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday, July 30th. Benchmark lifted their price target on Qorvo from $95.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Finally, Stifel Nicolaus set a $88.00 price objective on Qorvo and gave the company a "hold" rating in a research note on Wednesday, July 30th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $95.35.
Get Our Latest Research Report on QRVO
Qorvo Trading Up 4.0%
NASDAQ:QRVO opened at $87.55 on Friday. Qorvo, Inc. has a 52-week low of $49.46 and a 52-week 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 stock has a fifty day simple moving average of $84.00 and a 200-day simple moving average of $76.32. The company has a market capitalization of $8.11 billion, a PE ratio of 103.00, a price-to-earnings-growth ratio of 1.64 and a beta of 1.35.
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 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 company had revenue of $818.80 million during the quarter, compared to the consensus estimate of $775.61 million. Qorvo's revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.87 earnings per share. On average, equities research analysts expect that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.
Qorvo Company 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.
Further Reading
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