Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools:
Mn Services Vermogensbeheer B.V. trimmed its position in shares of Qorvo, Inc. (NASDAQ:QRVO – Get Rating) by 5.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,300 shares of the semiconductor company’s stock after selling 3,500 shares during the quarter. Mn Services Vermogensbeheer B.V. owned 0.06% of Qorvo worth $4,788,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. J.W. Cole Advisors Inc. bought a new position in shares of Qorvo during the first quarter worth $26,000. Loomis Sayles & Co. L P raised its holdings in shares of Qorvo by 208.8% during the second quarter. Loomis Sayles & Co. L P now owns 281 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 190 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of Qorvo by 106.4% during the first quarter. Parkside Financial Bank & Trust now owns 225 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 116 shares during the period. New Millennium Group LLC acquired a new stake in shares of Qorvo during the second quarter worth $29,000. Finally, Spire Wealth Management raised its holdings in shares of Qorvo by 63.9% during the second quarter. Spire Wealth Management now owns 336 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 131 shares during the period. 86.47% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on QRVO shares. Benchmark dropped their price objective on shares of Qorvo from $152.00 to $120.00 in a report on Thursday, November 3rd. Rosenblatt Securities dropped their price objective on shares of Qorvo from $110.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, November 3rd. Needham & Company LLC raised their price objective on shares of Qorvo from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, November 3rd. Barclays lowered shares of Qorvo from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $120.00 to $90.00 in a research note on Monday, October 24th. Finally, Piper Sandler lowered their price target on shares of Qorvo from $115.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, November 3rd. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $107.00.
Qorvo Stock Performance
Shares of QRVO stock opened at $100.40 on Tuesday. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 3.07 and a beta of 1.39. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.20 and a current ratio of 3.30. The company has a 50-day simple moving average of $94.87 and a 200 day simple moving average of $93.62. Qorvo, Inc. has a 52 week low of $75.38 and a 52 week high of $148.86.
Qorvo (NASDAQ:QRVO – Get Rating) last announced its earnings results on Wednesday, November 2nd. The semiconductor company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.28 by $0.07. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Qorvo had a net margin of 15.34% and a return on equity of 24.47%. Qorvo’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.22 EPS. On average, sell-side analysts predict that Qorvo, Inc. will post 5.04 earnings per share for the current year.
Qorvo declared that its Board of Directors has approved a stock repurchase plan on Wednesday, November 2nd that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 22.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
Insider Buying and Selling at Qorvo
In other Qorvo news, VP Gina Harrison sold 3,559 shares of the business’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $104.00, for a total value of $370,136.00. Following the completion of the sale, the vice president now owns 16,257 shares of the company’s stock, valued at approximately $1,690,728. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.45% of the company’s stock.
About Qorvo
(Get Rating)
Qorvo, Inc develops and commercializes technologies and products for wireless, wired, and power markets worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. It offers mobile devices, such as smartphones, wearables, laptops, tablets and other devices; radio frequency power management integrated circuits, ultra-wideband (UWB) system-on-a-chip (SoC) and system-in-package (SiP) solutions, MEMS-based sensors, antenna tuners, and antennaplexers, as well as discrete multiplexers, duplexers, filters, and switches; and cellular base stations include switch-low noise amplifier (LNA) modules, variable gain amplifiers, integrated power amplifier (PA) Doherty modules, discrete LNAs, and high power GaN amplifiers.
Featured Articles
- Get a free copy of the StockNews.com research report on Qorvo (QRVO)
- $2,000 at Alphabet’s YouTube Purchase: You’d Be Up This Much.
- Michael Burry is Bearish on Stocks Again and Heres Why
- Is Macau a Sinking Ship for Wynn Resorts?
- Don’t Miss These 2 Mid-Cap Techs That Broke Out Last Week
- Pinterest is the Social Commerce Platform to Watch in 2023
Want to see what other hedge funds are holding QRVO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qorvo, Inc. (NASDAQ:QRVO – Get Rating).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Qorvo, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Qorvo wasn’t on the list.
While Qorvo currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we’ll send you MarketBeat’s list of seven stocks and why their long-term outlooks are very promising.
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools:
View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.
Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat’s trending stocks report.
Identify stocks that meet your criteria using seven unique stock screeners. See what’s happening in the market right now with MarketBeat’s real-time news feed. Export data to Excel for your own analysis.
As Featured By:
326 E 8th St #105, Sioux Falls, SD 57103
contact@marketbeat.com
(844) 978-6257
© American Consumer News, LLC dba MarketBeat® 2010-2023. All rights reserved.
© 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer.
