UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 20.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 682,076 shares of the semiconductor company's stock after purchasing an additional 117,053 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.73% of Qorvo worth $47,698,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Mediolanum International Funds Ltd bought a new stake in Qorvo during the fourth quarter worth approximately $1,177,000. Janney Montgomery Scott LLC lifted its stake in shares of Qorvo by 245.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company's stock worth $1,024,000 after buying an additional 10,405 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Qorvo by 16.3% during the 4th quarter. JPMorgan Chase & Co. now owns 649,631 shares of the semiconductor company's stock worth $45,429,000 after buying an additional 91,120 shares during the period. Raymond James Financial Inc. acquired a new position in Qorvo in the 4th quarter valued at $1,327,000. Finally, F&V Capital Management LLC raised its holdings in Qorvo by 3.7% in the 4th quarter. F&V Capital Management LLC now owns 93,538 shares of the semiconductor company's stock worth $6,541,000 after acquiring an additional 3,335 shares during the period. 88.57% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the stock. TD Cowen lowered their price objective on shares of Qorvo from $90.00 to $80.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Needham & Company LLC dropped their price objective 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. Wall Street Zen upgraded shares of Qorvo from a "hold" rating to a "buy" rating in a research note on Saturday. Barclays lifted their target price on Qorvo from $60.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Finally, Citigroup reduced their price objective on Qorvo from $72.00 to $69.00 and set a "sell" rating for the company in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $91.21.
Check Out Our Latest Report on Qorvo
Insiders Place Their Bets
In other Qorvo news, Director John R. Harding sold 1,450 shares of Qorvo stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total value of $101,630.50. Following the sale, the director now directly owns 7,597 shares in the company, valued at approximately $532,473.73. The trade was a 16.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.46% of the company's stock.
Qorvo Price Performance
Qorvo stock traded down $1.04 on Wednesday, reaching $75.91. The company's stock had a trading volume of 1,505,918 shares, compared to its average volume of 2,201,609. Qorvo, Inc. has a twelve month low of $49.46 and a twelve month high of $130.99. The company has a market cap of $7.06 billion, a price-to-earnings ratio of 271.11, a PEG ratio of 15.57 and a beta of 1.38. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. The business's fifty day moving average price is $67.80 and its 200 day moving average price is $71.55.
Qorvo (NASDAQ:QRVO - Get Free Report) last issued 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. Qorvo had a net margin of 0.71% and a return on equity of 12.41%. The firm had revenue of $869.47 million for the quarter, compared to analyst estimates of $850.13 million. During the same quarter in the prior year, the firm earned $1.39 EPS. The company's revenue was down 7.6% on a year-over-year basis. Equities analysts expect that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.
Qorvo Company Profile
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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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