Hsbc Holdings PLC Has $31.89 Million Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

Hsbc Holdings PLC decreased its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 2.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 275,763 shares of the semiconductor company’s stock after selling 6,973 shares during the quarter. Hsbc Holdings PLC owned about 0.29% of Qorvo worth $31,892,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Bessemer Group Inc. increased its holdings in shares of Qorvo by 1,361.9% during the 1st quarter. Bessemer Group Inc. now owns 13,596 shares of the semiconductor company’s stock worth $1,562,000 after acquiring an additional 12,666 shares during the last quarter. FIL Ltd increased its holdings in shares of Qorvo by 4.5% during the 4th quarter. FIL Ltd now owns 2,778,629 shares of the semiconductor company’s stock worth $312,901,000 after acquiring an additional 120,213 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Qorvo by 44.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 13,247 shares of the semiconductor company’s stock worth $1,521,000 after acquiring an additional 4,072 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Qorvo by 23.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 370,200 shares of the semiconductor company’s stock worth $42,510,000 after acquiring an additional 71,200 shares during the last quarter. Finally, Leeward Investments LLC MA increased its holdings in shares of Qorvo by 50.6% during the 1st quarter. Leeward Investments LLC MA now owns 154,346 shares of the semiconductor company’s stock worth $17,724,000 after acquiring an additional 51,850 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Insiders Place Their Bets

In other Qorvo news, VP Gina Harrison sold 689 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 21,601 shares of the company’s stock, valued at approximately $2,325,779.67. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.46% of the company’s stock.

Qorvo Price Performance

Shares of QRVO stock opened at $102.26 on Friday. 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, Inc. has a twelve month low of $80.62 and a twelve month high of $130.99. The company has a market cap of $9.70 billion, a P/E ratio of -140.08, a P/E/G ratio of 1.23 and a beta of 1.46. The business has a fifty day simple moving average of $112.02 and a 200 day simple moving average of $110.40.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share 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 business had revenue of $886.70 million during the quarter, compared to the consensus estimate of $851.95 million. During the same period in the prior year, the company earned $0.03 EPS. Qorvo’s revenue for the quarter was up 36.2% on a year-over-year basis. On average, sell-side analysts forecast that Qorvo, Inc. will post 4.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Susquehanna reduced their price target on Qorvo from $145.00 to $135.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. TD Cowen upgraded Qorvo to a “hold” rating in a research report on Monday, September 16th. Craig Hallum upped their target price on Qorvo from $124.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Rosenblatt Securities upped their target price on Qorvo from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their target price on Qorvo from $100.00 to $115.00 and gave the company an “underweight” rating in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Qorvo currently has a consensus rating of “Hold” and an average target price of $121.00.

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.