Simon Quick Advisors LLC Purchases New Stake in Qorvo, Inc. (NASDAQ:QRVO)

Simon Quick Advisors LLC acquired a new position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,606 shares of the semiconductor company's stock, valued at approximately $261,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Ameriprise Financial Inc. boosted its holdings in shares of Qorvo by 102.0% in the 4th quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company's stock valued at $251,577,000 after buying an additional 1,816,811 shares during the period. FIL Ltd boosted its stake in Qorvo by 5.3% in the fourth quarter. FIL Ltd now owns 3,324,241 shares of the semiconductor company's stock valued at $232,464,000 after acquiring an additional 166,461 shares during the period. Vulcan Value Partners LLC boosted its stake in Qorvo by 53.7% in the fourth quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company's stock valued at $180,487,000 after acquiring an additional 902,353 shares during the period. Amundi grew its holdings in shares of Qorvo by 84.4% during the fourth quarter. Amundi now owns 2,143,858 shares of the semiconductor company's stock valued at $156,673,000 after purchasing an additional 981,519 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Qorvo by 22.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,419,698 shares of the semiconductor company's stock worth $99,280,000 after purchasing an additional 264,167 shares during the period. Institutional investors own 88.57% of the company's stock.

Insider Buying and Selling at Qorvo

In other Qorvo news, Director John R. Harding sold 1,450 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total transaction of $101,630.50. Following the sale, the director now owns 7,597 shares of the company's stock, valued at $532,473.73. This represents a 16.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.46% of the company's stock.

Qorvo Stock Performance

Shares of NASDAQ:QRVO traded up $0.12 on Thursday, hitting $80.30. 846,899 shares of the company were exchanged, compared to its average volume of 2,222,170. The company's 50 day moving average price is $72.01 and its two-hundred day moving average price is $72.82. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.95 and a current ratio of 2.77. The firm has a market capitalization of $7.47 billion, a price-to-earnings ratio of 138.45, a PEG ratio of 2.14 and a beta of 1.37. Qorvo, Inc. has a one year low of $49.46 and a one year high of $130.99.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.42. The company had revenue of $869.47 million during the quarter, compared to the consensus estimate of $850.13 million. Qorvo had a net margin of 1.50% and a return on equity of 12.48%. The firm's revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period last year, the firm earned $1.39 EPS. Research analysts expect that Qorvo, Inc. will post 4.09 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Loop Capital lowered their price objective on Qorvo from $90.00 to $75.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Barclays increased their price target on Qorvo from $60.00 to $70.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Needham & Company LLC dropped their target price on shares of Qorvo from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Stifel Nicolaus set a $75.00 price target on Qorvo in a research note on Monday, April 28th. Finally, Benchmark upgraded shares of Qorvo from a "hold" rating to a "buy" rating and set a $95.00 price objective on the stock in a research report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $91.21.

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.