Nisa Investment Advisors LLC boosted its stake in shares of Qorvo Inc (NASDAQ:QRVO) by 93.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 24,443 shares of the semiconductor company’s stock after buying an additional 11,783 shares during the period. Nisa Investment Advisors LLC’s holdings in Qorvo were worth $2,702,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in QRVO. Amundi Pioneer Asset Management Inc. boosted its position in Qorvo by 46.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 87,061 shares of the semiconductor company’s stock valued at $6,244,000 after purchasing an additional 27,692 shares in the last quarter. Guggenheim Capital LLC raised its stake in shares of Qorvo by 115.5% in the fourth quarter. Guggenheim Capital LLC now owns 132,281 shares of the semiconductor company’s stock worth $15,375,000 after purchasing an additional 70,911 shares during the last quarter. Verus Capital Partners LLC purchased a new position in Qorvo during the fourth quarter valued at approximately $66,000. Macquarie Group Ltd. raised its position in Qorvo by 173.5% during the fourth quarter. Macquarie Group Ltd. now owns 140,300 shares of the semiconductor company’s stock valued at $16,307,000 after acquiring an additional 89,000 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its position in Qorvo by 48.6% during the fourth quarter. Nuveen Asset Management LLC now owns 626,945 shares of the semiconductor company’s stock valued at $72,869,000 after acquiring an additional 205,027 shares in the last quarter. Institutional investors own 88.02% of the company’s stock.
In other news, CEO Robert A. Bruggeworth sold 15,933 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $102.96, for a total transaction of $1,640,461.68. Following the sale, the chief executive officer now owns 159,993 shares in the company, valued at $16,472,879.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gina Harrison sold 1,328 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $115.53, for a total value of $153,423.84. Insiders have sold 32,877 shares of company stock worth $3,409,446 in the last 90 days. Insiders own 0.66% of the company’s stock.
A number of analysts have recently commented on QRVO shares. Cowen boosted their price objective on Qorvo from $120.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on Qorvo from $108.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Raymond James lifted their target price on Qorvo from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday. Loop Capital started coverage on Qorvo in a report on Friday, May 8th. They issued a “buy” rating and a $120.00 price objective on the stock. Finally, Goldman Sachs Group boosted their price objective on Qorvo from $115.00 to $137.00 and gave the company a “buy” rating in a report on Monday, July 6th. Six research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $121.36.
Shares of NASDAQ:QRVO opened at $128.15 on Friday. The business’s fifty day moving average price is $112.02 and its two-hundred day moving average price is $101.04. The stock has a market cap of $14.66 billion, a PE ratio of 38.60, a price-to-earnings-growth ratio of 2.64 and a beta of 1.41. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.18 and a current ratio of 4.08. Qorvo Inc has a one year low of $67.54 and a one year high of $130.86.
Qorvo (NASDAQ:QRVO) last announced its earnings results on Wednesday, July 29th. The semiconductor company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.37. Qorvo had a return on equity of 16.10% and a net margin of 12.05%. The firm had revenue of $787.50 million for the quarter, compared to analysts’ expectations of $729.91 million. During the same quarter in the prior year, the firm earned $1.36 EPS. Qorvo’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, equities research analysts predict that Qorvo Inc will post 4.73 earnings per share for the current fiscal year.
Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.
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