CWA Asset Management Group LLC Grows Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

CWA Asset Management Group LLC increased its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO – Get Rating) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,383 shares of the semiconductor company’s stock after buying an additional 214 shares during the quarter. CWA Asset Management Group LLC’s holdings in Qorvo were worth $2,301,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in QRVO. Renaissance Technologies LLC raised its holdings in shares of Qorvo by 1,610.0% in the 3rd quarter. Renaissance Technologies LLC now owns 993,706 shares of the semiconductor company’s stock worth $78,910,000 after purchasing an additional 935,593 shares during the period. Baupost Group LLC MA raised its holdings in shares of Qorvo by 11.8% in the 1st quarter. Baupost Group LLC MA now owns 6,645,712 shares of the semiconductor company’s stock worth $824,733,000 after purchasing an additional 699,968 shares during the period. Wellington Management Group LLP raised its holdings in shares of Qorvo by 52.6% in the 1st quarter. Wellington Management Group LLP now owns 1,990,306 shares of the semiconductor company’s stock worth $246,997,000 after purchasing an additional 686,046 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Qorvo by 183.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 690,361 shares of the semiconductor company’s stock worth $85,674,000 after purchasing an additional 447,129 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Qorvo by 2,915.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 410,572 shares of the semiconductor company’s stock worth $32,604,000 after purchasing an additional 396,957 shares during the period. 86.47% of the stock is currently owned by hedge funds and other institutional investors.

Qorvo Price Performance

Shares of NASDAQ:QRVO opened at $96.65 on Friday. The company has a quick ratio of 2.28, a current ratio of 3.68 and a debt-to-equity ratio of 0.49. The firm has a 50-day simple moving average of $102.47 and a 200 day simple moving average of $94.02. Qorvo, Inc. has a fifty-two week low of $75.38 and a fifty-two week high of $132.73. The company has a market cap of $9.65 billion, a PE ratio of 22.81, a P/E/G ratio of 3.03 and a beta of 1.48.

Qorvo (NASDAQ:QRVO – Get Rating) last announced its quarterly earnings results on Wednesday, February 1st. The semiconductor company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.12. Qorvo had a return on equity of 19.41% and a net margin of 11.06%. The business had revenue of $743.30 million for the quarter, compared to analysts’ expectations of $726.33 million. During the same period in the prior year, the firm earned $2.81 EPS. The business’s quarterly revenue was down 33.3% on a year-over-year basis. On average, sell-side analysts anticipate that Qorvo, Inc. will post 4.91 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on QRVO shares. Susquehanna raised their price objective on Qorvo from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, February 2nd. Citigroup raised their target price on Qorvo from $94.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, February 3rd. Needham & Company LLC raised their target price on Qorvo from $105.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, February 2nd. Cowen raised their target price on Qorvo from $80.00 to $100.00 and gave the company a “market perform” rating in a report on Thursday, February 2nd. Finally, Mizuho raised their target price on Qorvo from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, February 2nd. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $109.57.

About Qorvo

(Get Rating)

Qorvo, Inc engages in the provision of development and commercialization of technologies and products for wireless and wired connectivity. It operates through the following reportable segments: Mobile Products and Infrastructure & Defense Products. The Mobile Products segment is involved in supplying cellular, UWB, and Wi-Fi solutions for applications, including smartphones, wearables, laptops, tablets, and Internet of things.