Siemens Fonds Invest GmbH acquired a new stake 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 firm acquired 24,039 shares of the semiconductor company's stock, valued at approximately $1,681,000.
Several other large investors also recently added to or reduced their stakes in QRVO. Mediolanum International Funds Ltd purchased a new stake in Qorvo during the fourth quarter valued at about $1,177,000. Janney Montgomery Scott LLC raised its position in Qorvo by 245.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company's stock valued at $1,024,000 after purchasing an additional 10,405 shares in the last quarter. JPMorgan Chase & Co. raised its position in Qorvo by 16.3% during the fourth quarter. JPMorgan Chase & Co. now owns 649,631 shares of the semiconductor company's stock valued at $45,429,000 after purchasing an additional 91,120 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Qorvo in the fourth quarter worth about $1,327,000. Finally, F&V Capital Management LLC increased its holdings in shares of Qorvo by 3.7% in the fourth quarter. F&V Capital Management LLC now owns 93,538 shares of the semiconductor company's stock worth $6,541,000 after buying an additional 3,335 shares during the period. Institutional investors own 88.57% of the company's stock.
Analysts Set New Price Targets
Several research analysts have recently commented on QRVO shares. Morgan Stanley upgraded Qorvo from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $90.00 to $106.00 in a report on Tuesday, January 21st. Mizuho lifted their price objective on Qorvo from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Citigroup decreased their price objective on Qorvo from $72.00 to $69.00 and set a "sell" rating on the stock in a report on Wednesday, January 29th. StockNews.com upgraded Qorvo from a "hold" rating to a "buy" rating in a report on Wednesday, January 29th. Finally, Barclays lifted their price objective on Qorvo from $60.00 to $70.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Qorvo currently has a consensus rating of "Hold" and a consensus target price of $91.21.
Read Our Latest Analysis on Qorvo
Insider Transactions at Qorvo
In other news, Director John R. Harding sold 1,450 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was 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 of the company's stock, valued at $532,473.73. The trade was a 16.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.46% of the company's stock.
Qorvo Stock Performance
Qorvo stock opened at $79.64 on Friday. The stock's 50 day simple moving average is $67.06 and its two-hundred day simple moving average is $71.32. 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 stock has a market cap of $7.44 billion, a price-to-earnings ratio of 284.43, a PEG ratio of 15.57 and a beta of 1.38. Qorvo, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $130.99.
Qorvo (NASDAQ:QRVO - Get Free Report) last issued its quarterly earnings results 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 return on equity of 12.41% and a net margin of 0.71%. The firm had revenue of $869.47 million for the quarter, compared to analysts' expectations of $850.13 million. During the same period in the previous year, the firm posted $1.39 EPS. The business's revenue for the quarter was down 7.6% compared to the same quarter last year. As a group, analysts expect that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.
Qorvo Profile
(
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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