Qorvo, Inc. (NASDAQ:QRVO) Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. raised its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 17,255.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,427,006 shares of the semiconductor company’s stock after acquiring an additional 1,418,784 shares during the quarter. Pacer Advisors Inc. owned 1.50% of Qorvo worth $165,590,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Capital Research Global Investors raised its holdings 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 grew its position 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 buying an additional 120,213 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings 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 valued at $153,558,000 after buying an additional 4,386 shares in the last quarter. Norges Bank acquired a new stake in shares of Qorvo during the 4th quarter valued at $118,120,000. Finally, Balyasny Asset Management L.P. boosted its stake in shares of Qorvo by 161.2% during the 4th 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 in the last quarter. Institutional investors own 88.57% of the company’s stock.

Insider Activity

In related news, VP Gina Harrison sold 689 shares of the business’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 value of $74,184.63. Following the completion of the sale, the vice president now directly owns 21,601 shares in the company, valued at approximately $2,325,779.67. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.46% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Needham & Company LLC upped 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. The Goldman Sachs Group raised their target price on shares of Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Barclays boosted their price target on shares of Qorvo from $100.00 to $125.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. increased their target price on Qorvo from $100.00 to $115.00 and gave the company an “underweight” rating in a report on Wednesday, July 31st. Finally, Susquehanna lowered their price target on Qorvo from $145.00 to $135.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $121.00.

Qorvo Trading Down 0.9 %

Shares of NASDAQ QRVO opened at $102.26 on Friday. The stock has a market cap of $9.70 billion, a price-to-earnings ratio of -140.08, a PEG ratio of 1.23 and a beta of 1.46. The business has a 50 day simple moving average of $112.02 and a 200 day simple moving average of $110.42. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.36 and a current ratio of 1.95. Qorvo, Inc. has a 52 week low of $80.62 and a 52 week high of $130.99.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 EPS for the quarter, topping 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 company had revenue of $886.70 million during the quarter, compared to the consensus estimate of $851.95 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The company’s revenue for the quarter was up 36.2% compared to the same quarter last year. On average, research analysts predict that Qorvo, Inc. will post 4.8 earnings per share 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.