Atria Investments Inc Has $267,000 Position in Qorvo, Inc. (NASDAQ:QRVO)

Atria Investments Inc lifted its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 12.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,584 shares of the semiconductor company’s stock after purchasing an additional 293 shares during the period. Atria Investments Inc’s holdings in Qorvo were worth $267,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Robeco Institutional Asset Management B.V. raised its stake in Qorvo by 78.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company’s stock valued at $55,548,000 after buying an additional 236,590 shares during the period. Bessemer Group Inc. raised its stake in Qorvo by 1,361.9% in the 1st quarter. Bessemer Group Inc. now owns 13,596 shares of the semiconductor company’s stock valued at $1,562,000 after acquiring an additional 12,666 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Qorvo by 23.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 370,200 shares of the semiconductor company’s stock valued at $42,510,000 after purchasing an additional 71,200 shares during the last quarter. APG Asset Management N.V. boosted its position in Qorvo by 21.9% during the second quarter. APG Asset Management N.V. now owns 101,243 shares of the semiconductor company’s stock worth $10,962,000 after purchasing an additional 18,178 shares during the period. Finally, Lazard Asset Management LLC boosted its position in Qorvo by 23,191.0% during the first quarter. Lazard Asset Management LLC now owns 20,729 shares of the semiconductor company’s stock worth $2,380,000 after purchasing an additional 20,640 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Qorvo

In related news, VP Gina Harrison sold 689 shares of the business’s stock in a transaction 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 owns 21,601 shares in the company, valued at $2,325,779.67. The trade was a 3.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.46% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

QRVO has been the subject of a number of research reports. Barclays cut their target price on shares of Qorvo from $120.00 to $90.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th. Rosenblatt Securities raised their price objective on shares of Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. StockNews.com lowered Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Benchmark downgraded Qorvo from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group increased their price objective on Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $102.88.

Qorvo Stock Up 2.0 %

Shares of QRVO opened at $69.25 on Friday. The firm has a 50 day simple moving average of $90.84 and a two-hundred day simple moving average of $103.23. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38. Qorvo, Inc. has a one year low of $64.98 and a one year high of $130.99. The company has a market cap of $6.55 billion, a P/E ratio of -47.43, a P/E/G ratio of 5.31 and a beta of 1.49.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.03. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. Qorvo’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.99 EPS. Research analysts forecast that Qorvo, Inc. will post 3.37 EPS for the current fiscal year.

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.