Natixis Advisors LLC Acquires 34,632 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Key Points

• Natixis Advisors LLC has increased its stake in Qorvo, Inc. by 68.2%, now owning a total of 85,445 shares valued at approximately $6,187,000.
• Analysts have upgraded Qorvo's stock ratings, with Needham & Company raising the price target from $90.00 to $104.00 and giving it a "buy" rating.
• Qorvo's recent quarterly earnings reported $0.92 earnings per share, exceeding analysts' expectations of $0.62, although revenue decreased by 7.7% compared to the previous year.

Natixis Advisors LLC increased its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 68.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 85,445 shares of the semiconductor company's stock after purchasing an additional 34,632 shares during the quarter. Natixis Advisors LLC owned approximately 0.09% of Qorvo worth $6,187,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. raised its position in shares of Qorvo by 5.0% in the fourth quarter. American Century Companies Inc. now owns 30,467 shares of the semiconductor company's stock valued at $2,131,000 after purchasing an additional 1,443 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Qorvo by 10.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,561 shares of the semiconductor company's stock worth $547,000 after acquiring an additional 717 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Qorvo during the 1st quarter valued at about $963,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Qorvo by 36.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 38,576 shares of the semiconductor company's stock worth $2,786,000 after purchasing an additional 10,209 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of Qorvo by 22.3% during the fourth quarter. Cetera Investment Advisers now owns 10,364 shares of the semiconductor company's stock valued at $725,000 after buying an additional 1,892 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Needham & Company LLC raised their price target on Qorvo from $90.00 to $104.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Barclays upped their price objective on Qorvo from $70.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Mizuho set a $84.00 price objective on Qorvo and gave the company a "neutral" rating in a research report on Tuesday, July 1st. Piper Sandler upped their price target on shares of Qorvo from $110.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen raised Qorvo from a "hold" rating to a "strong-buy" rating in a report on Saturday. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $95.35.

Qorvo Trading Down 0.9%

Shares of Qorvo stock traded down $0.76 on Wednesday, reaching $84.19. The company had a trading volume of 1,243,914 shares, compared to its average volume of 1,949,223. The firm has a market cap of $7.80 billion, a price-to-earnings ratio of 99.05, a P/E/G ratio of 1.66 and a beta of 1.35. 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 firm's 50-day moving average price is $83.61 and its two-hundred day moving average price is $76.24. Qorvo, Inc. has a 1 year low of $49.46 and a 1 year high of $117.90.

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 for the quarter, beating analysts' consensus estimates of $0.62 by $0.30. The business had revenue of $818.80 million for the quarter, compared to analysts' expectations of $775.61 million. Qorvo had a net margin of 2.21% and a return on equity of 12.63%. The business's revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.87 earnings per share. As a group, research analysts predict that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

Qorvo Company 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.