Advisor Partners LLC boosted its stake in Qorvo, Inc. (NASDAQ:QRVO) by 9.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,836 shares of the semiconductor company’s stock after buying an additional 407 shares during the period. Advisor Partners LLC’s holdings in Qorvo were worth $306,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in QRVO. Benjamin F. Edwards & Company Inc. increased its stake in shares of Qorvo by 49.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,664 shares of the semiconductor company’s stock valued at $114,000 after buying an additional 552 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Qorvo by 46.7% in the first quarter. IFP Advisors Inc now owns 2,105 shares of the semiconductor company’s stock valued at $144,000 after buying an additional 670 shares during the last quarter. NEXT Financial Group Inc increased its stake in shares of Qorvo by 2.1% in the second quarter. NEXT Financial Group Inc now owns 2,370 shares of the semiconductor company’s stock valued at $150,000 after buying an additional 49 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in shares of Qorvo during the first quarter valued at about $191,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in shares of Qorvo by 180.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,800 shares of the semiconductor company’s stock valued at $192,000 after buying an additional 1,800 shares during the last quarter. 97.39% of the stock is owned by institutional investors and hedge funds.
Qorvo, Inc. (NASDAQ QRVO) opened at 67.77 on Friday. Qorvo, Inc. has a 52 week low of $48.28 and a 52 week high of $79.34. The company has a 50-day moving average of $67.24 and a 200-day moving average of $68.88. The company’s market cap is $8.62 billion.
Qorvo (NASDAQ:QRVO) last released its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.07. The company had revenue of $640.80 million for the quarter, compared to analyst estimates of $632.18 million. Qorvo had a negative net margin of 1.40% and a positive return on equity of 10.10%. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.08 EPS. On average, equities research analysts predict that Qorvo, Inc. will post $5.54 EPS for the current year.
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Several analysts have issued reports on QRVO shares. TheStreet raised shares of Qorvo from a “c+” rating to a “b” rating in a research note on Wednesday, May 3rd. Needham & Company LLC raised their price objective on shares of Qorvo from $70.00 to $86.00 and gave the stock a “buy” rating in a research note on Friday, May 26th. Charter Equity reissued a “buy” rating on shares of Qorvo in a research note on Monday, May 15th. Craig Hallum raised their price objective on shares of Qorvo from $68.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, May 4th. Finally, Benchmark Co. started coverage on shares of Qorvo in a research note on Tuesday, April 25th. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $73.28.
In other Qorvo news, VP James L. Klein sold 4,120 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $68.41, for a total transaction of $281,849.20. Following the sale, the vice president now directly owns 36,358 shares in the company, valued at approximately $2,487,250.78. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Robert A. Bruggeworth sold 4,320 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $68.19, for a total transaction of $294,580.80. Following the sale, the insider now owns 206,925 shares in the company, valued at $14,110,215.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,426 shares of company stock worth $10,440,193. 0.91% of the stock is owned by company insiders.
Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).
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