Mackenzie Financial Corp Has $3.22 Million Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

Mackenzie Financial Corp boosted its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 94.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,101 shares of the semiconductor company's stock after purchasing an additional 22,398 shares during the period. Mackenzie Financial Corp's holdings in Qorvo were worth $3,224,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Neo Ivy Capital Management bought a new stake in Qorvo in the fourth quarter valued at approximately $1,435,000. GTS Securities LLC increased its stake in shares of Qorvo by 7.5% during the fourth quarter. GTS Securities LLC now owns 11,016 shares of the semiconductor company's stock worth $770,000 after purchasing an additional 772 shares during the period. CSS LLC IL increased its stake in shares of Qorvo by 11.9% during the fourth quarter. CSS LLC IL now owns 4,714 shares of the semiconductor company's stock worth $330,000 after purchasing an additional 500 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Qorvo by 20.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 682,076 shares of the semiconductor company's stock worth $47,698,000 after purchasing an additional 117,053 shares during the period. Finally, Voloridge Investment Management LLC bought a new position in shares of Qorvo during the fourth quarter worth approximately $29,650,000. 88.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on QRVO shares. Benchmark upgraded Qorvo from a "hold" rating to a "buy" rating and set a $95.00 target price on the stock in a research note on Wednesday, April 30th. Loop Capital lowered their target price on Qorvo from $90.00 to $75.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Needham & Company LLC lowered their target price on Qorvo from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Barclays increased their target price on Qorvo from $60.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Finally, Wall Street Zen upgraded Qorvo from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $91.21.

Qorvo Price Performance

QRVO stock traded down $1.25 during midday trading on Friday, reaching $75.16. 2,665,475 shares of the stock were exchanged, compared to its average volume of 2,213,322. The stock has a market capitalization of $6.99 billion, a PE ratio of 268.43, a P/E/G ratio of 15.57 and a beta of 1.38. Qorvo, Inc. has a 52 week low of $49.46 and a 52 week high of $130.99. 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 company has a fifty day moving average price of $67.94 and a 200 day moving average price of $71.73.

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

Insiders Place Their Bets

In other news, Director John R. Harding sold 1,450 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $70.09, for a total value of $101,630.50. Following the transaction, the director now directly owns 7,597 shares of the company's stock, valued at $532,473.73. The trade was a 16.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.46% of the company's stock.

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.