Qorvo, Inc. (NASDAQ:QRVO) Stock Holdings Boosted by Intech Investment Management LLC

Intech Investment Management LLC lifted its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 39.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 49,912 shares of the semiconductor company’s stock after acquiring an additional 14,199 shares during the period. Intech Investment Management LLC owned 0.05% of Qorvo worth $5,792,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Qorvo during the second quarter worth about $29,000. EverSource Wealth Advisors LLC grew its position in shares of Qorvo by 81.0% during the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 115 shares during the last quarter. Park Place Capital Corp grew its position in shares of Qorvo by 398.1% during the first quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 207 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Qorvo by 9,333.3% during the second quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 280 shares during the last quarter. Finally, New Millennium Group LLC bought a new position in shares of Qorvo during the second quarter worth about $34,000. Institutional investors own 88.57% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Qorvo from $100.00 to $115.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. TD Cowen raised shares of Qorvo to a “hold” rating in a report on Monday, September 16th. Craig Hallum upped their price objective on shares of Qorvo from $124.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Raymond James upped their price objective on shares of Qorvo from $115.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $120.00 price objective (up previously from $105.00) on shares of Qorvo in a report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $121.00.

Insiders Place Their Bets

In other Qorvo news, VP Gina Harrison sold 689 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $107.67, for a total transaction of $74,184.63. Following the sale, the vice president now owns 21,601 shares in the company, valued at approximately $2,325,779.67. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.46% of the company’s stock.

Qorvo Price Performance

NASDAQ QRVO opened at $102.26 on Friday. The stock’s 50-day moving average price is $112.02 and its two-hundred day moving average price is $110.40. The company has a current ratio of 1.95, a quick ratio of 1.36 and a debt-to-equity ratio of 0.44. The company has a market cap of $9.70 billion, a PE ratio of -140.08, a PEG ratio of 1.23 and a beta of 1.46. Qorvo, Inc. has a 1 year low of $80.62 and a 1 year high of $130.99.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.16. The firm had revenue of $886.70 million for the quarter, compared to the consensus estimate of $851.95 million. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. The business’s revenue for the quarter was up 36.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.03 EPS. On average, analysts predict that Qorvo, Inc. will post 4.8 EPS for the current 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.