Federated Hermes Inc. Grows Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Federated Hermes Inc. increased its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 9.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 237,251 shares of the semiconductor company's stock after purchasing an additional 21,093 shares during the period. Federated Hermes Inc. owned approximately 0.24% of Qorvo worth $26,717,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Barclays PLC boosted its holdings in shares of Qorvo by 646.2% in the 3rd quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company's stock worth $369,091,000 after purchasing an additional 3,347,972 shares in the last quarter. Norges Bank bought a new stake in Qorvo in the 4th quarter worth approximately $101,478,000. UBS Group AG boosted its stake in Qorvo by 491.9% in the third quarter. UBS Group AG now owns 1,267,273 shares of the semiconductor company's stock worth $120,987,000 after buying an additional 1,053,157 shares in the last quarter. JPMorgan Chase & Co. grew its position in Qorvo by 142.1% during the first quarter. JPMorgan Chase & Co. now owns 1,271,221 shares of the semiconductor company's stock valued at $129,119,000 after acquiring an additional 746,216 shares during the last quarter. Finally, Baupost Group LLC MA raised its stake in shares of Qorvo by 11.8% during the first quarter. Baupost Group LLC MA now owns 6,645,712 shares of the semiconductor company's stock worth $824,733,000 after acquiring an additional 699,968 shares in the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on QRVO shares. StockNews.com lowered shares of Qorvo from a "buy" rating to a "hold" rating in a report on Thursday, February 8th. Piper Sandler decreased their price objective on Qorvo from $120.00 to $105.00 and set a "neutral" rating on the stock in a report on Thursday, February 1st. Needham & Company LLC restated a "buy" rating and set a $125.00 target price on shares of Qorvo in a report on Thursday, February 1st. Craig Hallum raised their price target on Qorvo from $110.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, February 1st. Finally, Barclays boosted their price objective on Qorvo from $95.00 to $100.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $111.53.

Insider Transactions at Qorvo

In related news, SVP Steven E. Creviston sold 3,000 shares of Qorvo stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the transaction, the senior vice president now directly owns 77,552 shares of the company's stock, valued at approximately $9,306,240. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Steven E. Creviston sold 3,000 shares of the company's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $120.00, for a total value of $360,000.00. Following the sale, the senior vice president now owns 77,552 shares in the company, valued at approximately $9,306,240. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Paul J. Fego sold 3,027 shares of Qorvo stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $345,078.00. Following the transaction, the senior vice president now owns 29,705 shares of the company's stock, valued at approximately $3,386,370. The disclosure for this sale can be found here. Insiders have sold 6,381 shares of company stock valued at $745,434 in the last three months. 0.43% of the stock is currently owned by company insiders.

Qorvo Stock Down 2.7 %

Shares of QRVO stock traded down $2.96 during midday trading on Friday, reaching $104.88. 1,236,125 shares of the stock were exchanged, compared to its average volume of 919,757. Qorvo, Inc. has a 1 year low of $80.62 and a 1 year high of $121.65. The firm has a market cap of $10.13 billion, a PE ratio of -48.78, a price-to-earnings-growth ratio of 0.81 and a beta of 1.56. The company's 50 day moving average is $113.74 and its two-hundred day moving average is $104.61. The company has a current ratio of 1.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.43.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.47. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1 billion. Qorvo had a positive return on equity of 10.41% and a negative net margin of 6.11%. On average, equities research analysts predict that Qorvo, Inc. will post 4.95 EPS for the current year.

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.