Qorvo, Inc. (NASDAQ:QRVO) Shares Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC raised its position in Qorvo, Inc. (NASDAQ:QRVO) by 10,229.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,743 shares of the semiconductor company’s stock after purchasing an additional 10,639 shares during the period. International Assets Investment Management LLC’s holdings in Qorvo were worth $1,110,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of QRVO. Pacer Advisors Inc. increased its holdings 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 worth $165,590,000 after buying an additional 1,418,784 shares during the last quarter. Vulcan Value Partners LLC raised its holdings in shares of Qorvo by 35.0% during the 2nd quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company’s stock valued at $246,665,000 after buying an additional 550,111 shares during the period. Thrivent Financial for Lutherans increased its stake in Qorvo by 1,507.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 347,715 shares of the semiconductor company’s stock worth $40,349,000 after buying an additional 326,087 shares during the period. Caxton Associates LP purchased a new position in Qorvo in the second quarter valued at about $34,812,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Qorvo by 177.4% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 426,678 shares of the semiconductor company’s stock worth $48,995,000 after buying an additional 272,872 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Insider Buying and Selling

In other news, VP Gina Harrison sold 689 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the completion of the sale, the vice president now owns 21,601 shares of the company’s stock, valued at $2,325,779.67. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is currently owned by company insiders.

Qorvo Trading Down 0.7 %

Shares of NASDAQ QRVO opened at $71.37 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.36 and a debt-to-equity ratio of 0.45. The company has a market cap of $6.75 billion, a PE ratio of -48.88, a P/E/G ratio of 3.98 and a beta of 1.49. The company has a 50-day moving average of $102.41 and a two-hundred day moving average of $107.17. Qorvo, Inc. has a 1-year low of $70.39 and a 1-year high of $130.99.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.99 EPS. As a group, equities analysts expect that Qorvo, Inc. will post 4.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on QRVO shares. Piper Sandler decreased their price objective on shares of Qorvo from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Bank of America cut their price target on Qorvo from $115.00 to $80.00 and set an “underperform” rating on the stock in a report on Wednesday, October 30th. Craig Hallum cut their price objective on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. StockNews.com cut Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their target price on Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $104.75.

Qorvo 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.