Siemens Fonds Invest GmbH acquired a new stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 24,039 shares of the semiconductor company's stock, valued at approximately $1,681,000.
Several other institutional investors also recently bought and sold shares of QRVO. Rakuten Securities Inc. acquired a new stake in Qorvo in the fourth quarter valued at approximately $28,000. Huntington National Bank grew its holdings in Qorvo by 47.1% in the fourth quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 145 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Qorvo in the fourth quarter valued at approximately $37,000. Venturi Wealth Management LLC boosted its stake in shares of Qorvo by 67.4% in the fourth quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company's stock worth $43,000 after acquiring an additional 250 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its stake in shares of Qorvo by 2,621.4% in the fourth quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company's stock worth $53,000 after acquiring an additional 734 shares during the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.
Qorvo Trading Down 1.6%
NASDAQ:QRVO traded down $1.25 on Friday, reaching $75.16. The company's stock had a trading volume of 2,665,475 shares, compared to its average volume of 2,213,322. Qorvo, Inc. has a 12-month low of $49.46 and a 12-month high of $130.99. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of 268.43, a price-to-earnings-growth ratio of 15.57 and a beta of 1.38. The stock has a 50 day moving average price of $67.94 and a 200 day moving average price of $71.76.
Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.42. The firm had revenue of $869.47 million for the quarter, compared to the consensus estimate of $850.13 million. Qorvo had a return on equity of 12.41% and a net margin of 0.71%. The company's quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.39 EPS. On average, equities analysts anticipate that Qorvo, Inc. will post 4.09 EPS for the current fiscal year.
Insider Activity at Qorvo
In related news, Director John R. Harding sold 1,450 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $70.09, for a total value of $101,630.50. Following the sale, the director now owns 7,597 shares in the company, valued at approximately $532,473.73. The trade was a 16.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.46% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently issued reports on QRVO. Wall Street Zen raised Qorvo from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Loop Capital lowered their price target on Qorvo from $90.00 to $75.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Benchmark raised Qorvo from a "hold" rating to a "buy" rating and set a $95.00 price target on the stock in a research note on Wednesday, April 30th. TD Cowen lowered their price target on Qorvo from $90.00 to $80.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Finally, Barclays lifted their price target on Qorvo from $60.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $91.21.
View Our Latest Report on Qorvo
Qorvo 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.
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