Dimensional Fund Advisors LP Has $153.56 Million Stake in Qorvo, Inc. (NASDAQ:QRVO)

Dimensional Fund Advisors LP increased its stake in Qorvo, Inc. (NASDAQ:QRVO) by 0.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,323,463 shares of the semiconductor company’s stock after purchasing an additional 4,386 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.39% of Qorvo worth $153,558,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in QRVO. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Qorvo in the second quarter worth $29,000. Park Place Capital Corp lifted its position in Qorvo by 398.1% during the 1st 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. EverSource Wealth Advisors LLC boosted its holdings in Qorvo by 81.0% during the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 115 shares during the period. Versant Capital Management Inc grew its position in shares of Qorvo by 9,333.3% in the second quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 280 shares during the last quarter. Finally, New Millennium Group LLC bought a new position in shares of Qorvo in the second quarter worth about $34,000. Institutional investors own 88.57% of the company’s stock.

Qorvo Trading Down 0.9 %

Shares of QRVO opened at $102.26 on Friday. 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 stock has a market cap of $9.70 billion, a PE ratio of -137.95, 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. The stock has a 50 day simple moving average of $112.43 and a 200-day simple moving average of $110.54.

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. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. The firm had revenue of $886.70 million during the quarter, compared to analyst estimates of $851.95 million. During the same period in the prior year, the company posted $0.03 earnings per share. The business’s revenue for the quarter was up 36.2% compared to the same quarter last year. On average, sell-side analysts predict that Qorvo, Inc. will post 4.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on QRVO shares. Needham & Company LLC raised their target price on Qorvo from $110.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price 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. Craig Hallum increased their price target on shares of Qorvo from $124.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Susquehanna dropped their price objective on shares of Qorvo from $145.00 to $135.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Finally, Barclays upped their price objective on shares of Qorvo from $100.00 to $125.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $121.00.

Insider Buying and Selling at Qorvo

In other news, VP Gina Harrison sold 689 shares of the firm’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 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. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.46% of the company’s stock.

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.