Meeder Asset Management Inc. increased its position in Qorvo Inc (NASDAQ:QRVO) by 8.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 11,911 shares of the semiconductor company’s stock after purchasing an additional 943 shares during the period. Meeder Asset Management Inc.’s holdings in Qorvo were worth $794,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Arlington Partners LLC purchased a new stake in Qorvo in the 2nd quarter worth approximately $29,000. NEXT Financial Group Inc raised its holdings in shares of Qorvo by 63.5% during the 2nd quarter. NEXT Financial Group Inc now owns 868 shares of the semiconductor company’s stock valued at $58,000 after purchasing an additional 337 shares in the last quarter. Penserra Capital Management LLC bought a new position in shares of Qorvo during the 1st quarter valued at $107,000. Winslow Evans & Crocker Inc. raised its holdings in shares of Qorvo by 865.9% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 1,700 shares of the semiconductor company’s stock valued at $122,000 after purchasing an additional 1,524 shares in the last quarter. Finally, ETF Managers Group LLC raised its holdings in shares of Qorvo by 7.9% during the 1st quarter. ETF Managers Group LLC now owns 2,031 shares of the semiconductor company’s stock valued at $146,000 after purchasing an additional 149 shares in the last quarter. 93.17% of the stock is owned by hedge funds and other institutional investors.
Shares of Qorvo stock opened at $75.37 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.30 and a current ratio of 3.44. The firm’s 50-day simple moving average is $71.37 and its 200-day simple moving average is $69.57. Qorvo Inc has a twelve month low of $54.74 and a twelve month high of $81.21. The firm has a market cap of $8.48 billion, a P/E ratio of 14.36, a price-to-earnings-growth ratio of 1.77 and a beta of 1.09.
In other news, Director Roderick Nelson sold 500 shares of Qorvo stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $69.03, for a total transaction of $34,515.00. Following the sale, the director now directly owns 4,782 shares in the company, valued at approximately $330,101.46. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP James L. Klein sold 1,914 shares of Qorvo stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $61.71, for a total transaction of $118,112.94. Following the sale, the vice president now owns 51,945 shares in the company, valued at $3,205,525.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,958 shares of company stock worth $1,819,662. 0.71% of the stock is owned by company insiders.
QRVO has been the topic of a number of research analyst reports. Cowen reiterated a “market perform” rating and issued a $75.00 target price (up from $65.00) on shares of Qorvo in a research note on Friday, August 2nd. UBS Group raised their price target on shares of Qorvo from $68.00 to $74.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Craig Hallum restated a “buy” rating and issued a $85.00 price target (up from $75.00) on shares of Qorvo in a research report on Friday, August 2nd. Morgan Stanley raised their price target on shares of Qorvo from $67.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, Barclays lowered shares of Qorvo from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $70.00 to $60.00 in a research report on Thursday, June 6th. Fourteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $76.86.
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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