Vanguard Personalized Indexing Management LLC Purchases 968 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Vanguard Personalized Indexing Management LLC lifted its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 11.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,258 shares of the semiconductor company’s stock after purchasing an additional 968 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Qorvo were worth $1,064,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its position in shares of Qorvo by 2.1% in the 1st quarter. Capital Research Global Investors now owns 4,591,985 shares of the semiconductor company’s stock worth $527,298,000 after purchasing an additional 93,068 shares in the last quarter. FIL Ltd boosted its holdings in Qorvo by 4.5% in the fourth quarter. FIL Ltd now owns 2,778,629 shares of the semiconductor company’s stock worth $312,901,000 after acquiring an additional 120,213 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Qorvo by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,323,463 shares of the semiconductor company’s stock worth $153,558,000 after acquiring an additional 4,386 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Qorvo by 161.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 857,596 shares of the semiconductor company’s stock valued at $96,574,000 after acquiring an additional 529,309 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its position in shares of Qorvo by 20.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 780,203 shares of the semiconductor company’s stock worth $90,535,000 after purchasing an additional 132,866 shares during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Price Performance

QRVO stock opened at $102.18 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.36 and a current ratio of 1.95. The company’s fifty day moving average price is $111.53 and its 200-day moving average price is $110.24. Qorvo, Inc. has a one year low of $80.62 and a one year high of $130.99. The company has a market capitalization of $9.71 billion, a PE ratio of -139.97, a price-to-earnings-growth ratio of 1.23 and a beta of 1.46.

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

Insider Buying and Selling at Qorvo

In other news, VP Gina Harrison sold 689 shares of the company’s stock in a transaction that occurred on 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 directly owns 21,601 shares of the company’s stock, valued at approximately $2,325,779.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on QRVO shares. TD Cowen raised shares of Qorvo to a “hold” rating in a research report on Monday, September 16th. Raymond James boosted their price target on Qorvo from $115.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Craig Hallum increased their price objective on Qorvo from $124.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Rosenblatt Securities boosted their target price on Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, StockNews.com downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Qorvo has a consensus rating of “Hold” and an average price target of $121.00.

About Qorvo

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.