Qorvo Inc (NASDAQ:QRVO) Shares Acquired by Tower Research Capital LLC TRC

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Tower Research Capital LLC TRC raised its stake in shares of Qorvo Inc (NASDAQ:QRVO) by 212.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 935 shares of the semiconductor company’s stock after purchasing an additional 636 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Qorvo were worth $75,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in QRVO. Norges Bank purchased a new stake in shares of Qorvo in the 4th quarter valued at $168,070,000. AQR Capital Management LLC boosted its holdings in shares of Qorvo by 93.4% in the 4th quarter. AQR Capital Management LLC now owns 2,342,296 shares of the semiconductor company’s stock valued at $272,245,000 after acquiring an additional 1,131,336 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Qorvo by 96.2% in the 4th quarter. Renaissance Technologies LLC now owns 1,951,754 shares of the semiconductor company’s stock valued at $226,852,000 after acquiring an additional 956,848 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Qorvo by 247.0% in the 1st quarter. Janus Henderson Group PLC now owns 696,202 shares of the semiconductor company’s stock valued at $56,134,000 after acquiring an additional 495,565 shares during the last quarter. Finally, Iridian Asset Management LLC CT boosted its holdings in shares of Qorvo by 50.2% in the 1st quarter. Iridian Asset Management LLC CT now owns 1,152,850 shares of the semiconductor company’s stock valued at $92,954,000 after acquiring an additional 385,249 shares during the last quarter. 87.88% of the stock is currently owned by institutional investors and hedge funds.

In related news, VP James L. Klein sold 1,440 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $106.56, for a total transaction of $153,446.40. Also, VP Steven E. Creviston sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $90.00, for a total transaction of $180,000.00. Following the sale, the vice president now owns 58,181 shares of the company’s stock, valued at $5,236,290. The disclosure for this sale can be found here. Insiders sold 31,437 shares of company stock valued at $3,205,970 over the last quarter. Company insiders own 0.66% of the company’s stock.

A number of brokerages recently issued reports on QRVO. BidaskClub raised shares of Qorvo from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 6th. Bank of America reissued a “buy” rating on shares of Qorvo in a report on Thursday, May 21st. Canaccord Genuity lowered their price target on shares of Qorvo from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Oppenheimer began coverage on shares of Qorvo in a report on Friday, May 8th. They set a “hold” rating on the stock. Finally, Morgan Stanley raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and set a $130.00 price target on the stock in a report on Tuesday, June 16th. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $112.05.

Shares of NASDAQ QRVO opened at $110.53 on Wednesday. The firm has a 50-day simple moving average of $106.67 and a 200-day simple moving average of $101.29. The stock has a market capitalization of $12.29 billion, a price-to-earnings ratio of 39.20, a price-to-earnings-growth ratio of 2.21 and a beta of 1.41. The company has a quick ratio of 2.18, a current ratio of 3.14 and a debt-to-equity ratio of 0.37. Qorvo Inc has a 52 week low of $67.54 and a 52 week high of $122.37.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Thursday, May 7th. The semiconductor company reported $1.57 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.24. The business had revenue of $787.80 million during the quarter, compared to analysts’ expectations of $769.38 million. Qorvo had a net margin of 10.32% and a return on equity of 15.74%. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.22 earnings per share. As a group, equities research analysts expect that Qorvo Inc will post 4.73 EPS for the current year.

Qorvo Company Profile

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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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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