International Assets Investment Management LLC Acquires Shares of 11,711 Qorvo, Inc. (NASDAQ:QRVO)

International Assets Investment Management LLC acquired a new position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,711 shares of the semiconductor company's stock, valued at approximately $1,319,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. increased its position in shares of Qorvo by 1.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 22,435 shares of the semiconductor company's stock worth $2,142,000 after purchasing an additional 299 shares during the last quarter. Advisor Partners II LLC boosted its position in Qorvo by 5.5% during the third quarter. Advisor Partners II LLC now owns 5,659 shares of the semiconductor company's stock worth $540,000 after purchasing an additional 297 shares during the period. Park Avenue Securities LLC bought a new position in Qorvo during the third quarter worth $421,000. Allspring Global Investments Holdings LLC boosted its position in Qorvo by 15.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 11,282 shares of the semiconductor company's stock worth $1,077,000 after purchasing an additional 1,511 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Qorvo by 23.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,186 shares of the semiconductor company's stock worth $877,000 after buying an additional 1,740 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

QRVO has been the subject of a number of research reports. Benchmark dropped their target price on Qorvo from $136.00 to $128.00 and set a "buy" rating for the company in a report on Thursday, May 2nd. The Goldman Sachs Group lowered their target price on Qorvo from $117.00 to $105.00 and set a "neutral" rating for the company in a research note on Friday, May 3rd. Mizuho reduced their price target on Qorvo from $115.00 to $105.00 and set a "neutral" rating on the stock in a report on Thursday, May 2nd. Rosenblatt Securities boosted their price target on Qorvo from $95.00 to $105.00 and gave the stock a "neutral" rating in a report on Thursday, February 1st. Finally, Raymond James upped their target price on Qorvo from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $110.83.

Qorvo Stock Up 0.9 %

Shares of NASDAQ:QRVO traded up $0.86 during trading on Wednesday, reaching $99.91. 1,195,542 shares of the stock were exchanged, compared to its average volume of 1,339,626. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.99 and a quick ratio of 1.41. Qorvo, Inc. has a 1-year low of $80.62 and a 1-year high of $121.65. The stock has a fifty day moving average of $110.63 and a two-hundred day moving average of $106.23. The firm has a market cap of $9.65 billion, a price-to-earnings ratio of -135.68, a price-to-earnings-growth ratio of 1.19 and a beta of 1.53.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.21 by $0.18. Qorvo had a positive return on equity of 13.43% and a negative net margin of 1.86%. The company had revenue of $941.00 million for the quarter, compared to analyst estimates of $927.24 million. During the same period in the prior year, the firm earned $0.11 earnings per share. Qorvo's revenue for the quarter was up 48.7% on a year-over-year basis. Research analysts anticipate that Qorvo, Inc. will post 5.16 earnings per share for the current fiscal year.

Insider Activity at Qorvo

In related news, SVP Steven E. Creviston sold 3,000 shares of the stock in a transaction 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 completion of the sale, the senior vice president now directly owns 77,552 shares of the company's stock, valued at approximately $9,306,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Steven E. Creviston sold 3,000 shares of the stock in a transaction 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 completion of the sale, the senior vice president now directly owns 77,552 shares of the company's stock, valued at approximately $9,306,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Gina Harrison sold 354 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $40,356.00. Following the completion of the sale, the vice president now directly owns 18,442 shares of the company's stock, valued at $2,102,388. The disclosure for this sale can be found here. In the last three months, insiders sold 7,322 shares of company stock valued at $837,050. 0.43% of the stock is owned by insiders.

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.