Brandes Investment Partners LP Purchases 42,571 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Brandes Investment Partners LP raised its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 24.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 217,669 shares of the semiconductor company's stock after buying an additional 42,571 shares during the period. Brandes Investment Partners LP owned about 0.23% of Qorvo worth $24,512,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Barclays PLC raised its stake in Qorvo by 646.2% during the 3rd quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company's stock worth $369,091,000 after buying an additional 3,347,972 shares during the period. Invesco Ltd. raised its stake in shares of Qorvo by 18.9% in the 3rd quarter. Invesco Ltd. now owns 1,989,776 shares of the semiconductor company's stock valued at $189,964,000 after purchasing an additional 316,328 shares during the period. Boston Partners raised its stake in shares of Qorvo by 0.5% in the 4th quarter. Boston Partners now owns 1,436,328 shares of the semiconductor company's stock valued at $161,726,000 after purchasing an additional 6,558 shares during the period. UBS Group AG raised its stake in shares of Qorvo by 491.9% in the 3rd quarter. UBS Group AG now owns 1,267,273 shares of the semiconductor company's stock valued at $120,987,000 after purchasing an additional 1,053,157 shares during the period. Finally, Norges Bank acquired a new stake in shares of Qorvo in the 4th quarter valued at about $118,120,000. Institutional investors and hedge funds own 88.57% of the company's stock.

Insider Activity

In other news, CEO Robert A. Bruggeworth sold 22,299 shares of the company's stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $99.31, for a total transaction of $2,214,513.69. Following the transaction, the chief executive officer now owns 154,714 shares in the company, valued at $15,364,647.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director John R. Harding sold 941 shares of the firm's stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $97.36, for a total transaction of $91,615.76. Following the completion of the sale, the director now owns 6,950 shares in the company, valued at approximately $676,652. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert A. Bruggeworth sold 22,299 shares of the firm's stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total transaction of $2,214,513.69. Following the sale, the chief executive officer now owns 154,714 shares of the company's stock, valued at approximately $15,364,647.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,372 shares of company stock worth $2,877,858. Company insiders own 0.43% of the company's stock.

Wall Street Analysts Forecast Growth

QRVO has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price target on Qorvo from $105.00 to $100.00 and set an "underweight" rating on the stock in a research note on Thursday, May 2nd. Rosenblatt Securities raised their price objective on Qorvo from $95.00 to $105.00 and gave the company a "neutral" rating in a report on Thursday, February 1st. Benchmark cut their price objective on shares of Qorvo from $136.00 to $128.00 and set a "buy" rating for the company in a research report on Thursday, May 2nd. Mizuho cut their price objective on shares of Qorvo from $115.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, May 2nd. Finally, Raymond James raised their price objective on shares of Qorvo from $115.00 to $120.00 and gave the stock an "outperform" rating in a research 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $110.83.

Qorvo Price Performance

QRVO traded up $0.25 during trading on Monday, hitting $98.68. 865,139 shares of the stock traded hands, compared to its average volume of 1,330,268. Qorvo, Inc. has a twelve month low of $80.62 and a twelve month high of $121.65. The company has a market cap of $9.53 billion, a price-to-earnings ratio of -135.92, a PEG ratio of 1.19 and a beta of 1.53. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.99 and a quick ratio of 1.41. The business has a 50 day moving average price of $109.57 and a 200 day moving average price of $106.49.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.21 by $0.18. The business had revenue of $941.00 million during the quarter, compared to the consensus estimate of $927.24 million. Qorvo had a negative net margin of 1.86% and a positive return on equity of 13.43%. The company's revenue was up 48.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.11 earnings per share. Equities research analysts forecast that Qorvo, Inc. will post 5.16 earnings per share for the current fiscal year.

Qorvo Company 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.

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