Connor Clark & Lunn Investment Management Ltd. Takes $1.84 Million Position in Qorvo, Inc. (NASDAQ:QRVO)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Qorvo, Inc. (NASDAQ:QRVOGet Rating) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,769 shares of the semiconductor company’s stock, valued at approximately $1,841,000.

Other institutional investors also recently bought and sold shares of the company. Point72 Asset Management L.P. boosted its holdings in shares of Qorvo by 71.4% in the third quarter. Point72 Asset Management L.P. now owns 236,149 shares of the semiconductor company’s stock valued at $39,482,000 after acquiring an additional 98,377 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Qorvo by 151.0% during the third quarter. Franklin Resources Inc. now owns 42,486 shares of the semiconductor company’s stock worth $7,103,000 after buying an additional 25,560 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Qorvo by 2.6% during the third quarter. Geode Capital Management LLC now owns 2,124,349 shares of the semiconductor company’s stock worth $354,281,000 after buying an additional 53,922 shares in the last quarter. Cornercap Investment Counsel Inc. boosted its holdings in Qorvo by 35.9% during the third quarter. Cornercap Investment Counsel Inc. now owns 10,681 shares of the semiconductor company’s stock worth $1,786,000 after buying an additional 2,822 shares in the last quarter. Finally, Panview Asian Equity Master Fund boosted its holdings in Qorvo by 103.0% during the fourth quarter. Panview Asian Equity Master Fund now owns 67,000 shares of the semiconductor company’s stock worth $10,478,000 after buying an additional 34,000 shares in the last quarter. Institutional investors and hedge funds own 85.87% of the company’s stock.

In related news, VP Paul J. Fego sold 861 shares of the firm’s stock in a transaction on Tuesday, February 15th. The shares were sold at an average price of $131.78, for a total value of $113,462.58. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.52% of the company’s stock.

Shares of QRVO opened at $104.81 on Friday. The company’s fifty day moving average is $118.63 and its 200-day moving average is $137.53. Qorvo, Inc. has a 12 month low of $98.23 and a 12 month high of $201.46. The firm has a market cap of $11.36 billion, a price-to-earnings ratio of 11.33, a price-to-earnings-growth ratio of 1.70 and a beta of 1.34. The company has a quick ratio of 2.51, a current ratio of 3.63 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVOGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The semiconductor company reported $3.12 EPS for the quarter, topping the consensus estimate of $2.71 by $0.41. Qorvo had a net margin of 22.24% and a return on equity of 28.07%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business posted $2.59 EPS. Qorvo’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, research analysts predict that Qorvo, Inc. will post 9.65 earnings per share for the current fiscal year.

QRVO has been the subject of a number of research reports. Raymond James reduced their target price on shares of Qorvo from $180.00 to $155.00 in a report on Thursday, May 5th. Bank of America reduced their target price on shares of Qorvo from $180.00 to $165.00 and set a “neutral” rating for the company in a report on Thursday, February 3rd. Wells Fargo & Company reduced their target price on shares of Qorvo from $185.00 to $175.00 in a report on Thursday, May 5th. Susquehanna reduced their price target on shares of Qorvo from $150.00 to $120.00 in a research report on Thursday, May 5th. Finally, Susquehanna Bancshares reduced their price target on shares of Qorvo from $150.00 to $120.00 in a research report on Thursday, May 5th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $162.09.

About Qorvo (Get Rating)

Qorvo, Inc develops and commercializes technologies and products for wireless and wired connectivity worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. The company offers integrated modules incorporating switches, power amplifiers, filters, multiplexers and other components, radio frequency (RF) power management integrated circuits, antenna tuners, antenna-plexers, discrete filters and duplexers, discrete switches, and ultra-wideband (UWB) system solutions.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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