Qorvo, Inc. $QRVO Stock Holdings Increased by US Bancorp DE

Key Points

• US Bancorp DE increased its position in Qorvo, Inc. by 184.0% in Q1, acquiring an additional 3,551 shares for a total of 5,481 shares valued at $397,000.
• Brokerages have recently revised their price targets for Qorvo, with Piper Sandler setting a new target of $125.00, while Barclays increased theirs to $90.00.
• In its latest quarterly earnings, Qorvo reported $0.92 EPS, exceeding expectations of $0.62 and recording $818.80 million in revenue, down 7.7% year-over-year.

US Bancorp DE lifted its position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 184.0% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 5,481 shares of the semiconductor company's stock after buying an additional 3,551 shares during the period. US Bancorp DE's holdings in Qorvo were worth $397,000 as of its most recent SEC filing.

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

Qorvo Price Performance

Shares of NASDAQ:QRVO traded down $0.53 during trading on Monday, reaching $88.83. The company had a trading volume of 182,631 shares, compared to its average volume of 2,396,604. The firm's fifty day moving average is $85.37 and its 200 day moving average is $76.25. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.01 and a current ratio of 2.81. The firm has a market capitalization of $8.23 billion, a PE ratio of 104.50, a price-to-earnings-growth ratio of 1.74 and a beta of 1.35. Qorvo, Inc. has a twelve month low of $49.46 and a twelve month high of $117.90.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.30. Qorvo had a return on equity of 12.63% and a net margin of 2.21%. The firm had revenue of $818.80 million during the quarter, compared to the consensus estimate of $775.61 million. During the same period in the prior year, the firm posted $0.87 earnings per share. The firm's revenue for the quarter was down 7.7% compared to the same quarter last year. On average, equities analysts forecast that Qorvo, Inc. will post 4.09 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on QRVO. Loop Capital increased their target price on Qorvo from $75.00 to $90.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Benchmark upped their price objective on shares of Qorvo from $95.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Wall Street Zen raised shares of Qorvo from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. The Goldman Sachs Group started coverage on shares of Qorvo in a research report on Thursday, July 10th. They issued a "neutral" rating and a $90.00 target price for the company. Finally, Citigroup reaffirmed a "sell" rating on shares of Qorvo in a research report on Tuesday, June 10th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has given 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 target price of $95.35.

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.