7,042 Shares in Qorvo, Inc. (NASDAQ:QRVO) Acquired by MBB Public Markets I LLC

MBB Public Markets I LLC bought a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,042 shares of the semiconductor company’s stock, valued at approximately $817,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QRVO. Pacer Advisors Inc. grew its stake in shares of Qorvo by 17,255.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company’s stock valued at $165,590,000 after acquiring an additional 1,418,784 shares during the period. Balyasny Asset Management L.P. increased its stake in Qorvo by 161.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 857,596 shares of the semiconductor company’s stock worth $96,574,000 after acquiring an additional 529,309 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Qorvo by 1,507.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 347,715 shares of the semiconductor company’s stock valued at $40,349,000 after purchasing an additional 326,087 shares during the last quarter. Caxton Associates LP bought a new position in Qorvo during the second quarter valued at $34,812,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Qorvo by 177.4% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 426,678 shares of the semiconductor company’s stock worth $48,995,000 after purchasing an additional 272,872 shares during the period. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Insider Buying and Selling

In other news, VP Gina Harrison sold 689 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $107.67, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Qorvo from $100.00 to $115.00 and gave the company an “underweight” rating in a report on Wednesday, July 31st. Susquehanna reduced their target price on shares of Qorvo from $145.00 to $135.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Needham & Company LLC increased their price objective on Qorvo from $110.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Craig Hallum boosted their target price on shares of Qorvo from $124.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Raymond James increased their price objective on Qorvo from $115.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Two 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 data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $121.00.

Qorvo Price Performance

Qorvo stock opened at $99.78 on Wednesday. The firm has a market capitalization of $9.48 billion, a price-to-earnings ratio of -136.68, a PEG ratio of 1.24 and a beta of 1.46. Qorvo, Inc. has a 52-week low of $80.62 and a 52-week high of $130.99. The company has a fifty day simple moving average of $109.39 and a 200-day simple moving average of $109.78. The company has a quick ratio of 1.36, a current ratio of 1.95 and a debt-to-equity ratio of 0.44.

Qorvo (NASDAQ:QRVO) last released 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 during the quarter, compared to analysts’ expectations of $851.95 million. Qorvo had a negative net margin of 0.66% and a positive return on equity of 14.92%. Qorvo’s revenue was up 36.2% compared to the same quarter last year. During the same period last year, the business earned $0.03 earnings per share. On average, equities analysts anticipate that Qorvo, Inc. will post 4.84 EPS 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.