Qorvo, Inc. (NASDAQ:QRVO) Shares Acquired by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Qorvo, Inc. by 19.6% to approximately 139,418 shares, bringing its total investment to about <$10.1 million.
• Various institutional investors have also made notable adjustments to their Qorvo holdings, with 88.57% of the stock now owned by institutional investors.
• Qorvo reported $1.42 EPS in its latest earnings, exceeding estimates significantly, despite experiencing a 7.6% revenue decline year-over-year.

Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 19.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 139,418 shares of the semiconductor company's stock after acquiring an additional 22,842 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned 0.15% of Qorvo worth $10,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in QRVO. Raymond James Financial Inc. purchased a new stake in Qorvo in the fourth quarter valued at $1,327,000. Commonwealth Equity Services LLC boosted its holdings in Qorvo by 10.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 8,635 shares of the semiconductor company's stock valued at $604,000 after purchasing an additional 827 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Qorvo by 5.0% during the 4th quarter. American Century Companies Inc. now owns 30,467 shares of the semiconductor company's stock worth $2,131,000 after acquiring an additional 1,443 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Qorvo during the 4th quarter worth about $2,081,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Qorvo during the 4th quarter worth about $286,000. 88.57% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on QRVO shares. Susquehanna increased their target price on shares of Qorvo from $75.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Loop Capital lowered their target price on shares of Qorvo from $90.00 to $75.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Wall Street Zen lowered shares of Qorvo from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Needham & Company LLC lowered their target price on shares of Qorvo from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Finally, Mizuho set a $84.00 target price on shares of Qorvo and gave the stock a "neutral" rating in a research note on Tuesday, July 1st. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $91.79.

Insider Buying and Selling at Qorvo

In other Qorvo news, Director John R. Harding sold 1,450 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total transaction of $101,630.50. Following the transaction, the director directly owned 7,597 shares in the company, valued at $532,473.73. This represents a 16.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.41% of the company's stock.

Qorvo Trading Down 0.3%

QRVO stock traded down $0.24 on Tuesday, hitting $84.09. 534,539 shares of the company were exchanged, compared to its average volume of 2,421,660. Qorvo, Inc. has a twelve month low of $49.46 and a twelve month high of $123.41. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.77 and a quick ratio of 1.95. The business's fifty day moving average is $82.59 and its two-hundred day moving average is $75.85. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of 145.04, a price-to-earnings-growth ratio of 2.27 and a beta of 1.39.

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

About Qorvo

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.