Qorvo, Inc. (NASDAQ:QRVO) Holdings Increased by National Bank of Canada FI

National Bank of Canada FI grew its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 24.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,466 shares of the semiconductor company’s stock after buying an additional 5,150 shares during the quarter. National Bank of Canada FI’s holdings in Qorvo were worth $3,118,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QRVO. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Qorvo during the second quarter valued at approximately $29,000. EverSource Wealth Advisors LLC lifted its stake in Qorvo by 81.0% during the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 115 shares during the last quarter. Park Place Capital Corp lifted its stake in Qorvo by 398.1% during the first quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 207 shares during the last quarter. Versant Capital Management Inc lifted its stake in Qorvo by 9,333.3% during the second quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 280 shares during the last quarter. Finally, New Millennium Group LLC acquired a new stake in Qorvo during the second quarter valued at approximately $34,000. 88.57% of the stock is currently owned by institutional investors.

Insider Transactions at Qorvo

In other news, VP Gina Harrison sold 689 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the transaction, the vice president now owns 21,601 shares in the company, valued at approximately $2,325,779.67. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.46% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on QRVO shares. TD Cowen increased their target price on shares of Qorvo from $110.00 to $125.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on shares of Qorvo from $100.00 to $115.00 and gave the company an “underweight” rating in a report on Wednesday, July 31st. Piper Sandler restated a “neutral” rating and set a $120.00 price target (up previously from $105.00) on shares of Qorvo in a report on Wednesday, July 31st. Needham & Company LLC boosted their price target on shares of Qorvo from $110.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Susquehanna cut their price target on shares of Qorvo from $145.00 to $135.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $121.00.

Qorvo Stock Up 2.5 %

Qorvo stock opened at $107.17 on Thursday. The firm has a market cap of $10.17 billion, a PE ratio of -146.81, a P/E/G ratio of 1.26 and a beta of 1.46. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.36 and a current ratio of 1.95. The firm’s 50 day moving average price is $114.57 and its two-hundred day moving average price is $111.02. Qorvo, Inc. has a twelve month low of $80.62 and a twelve month high of $130.99.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.16. Qorvo had a negative net margin of 0.66% and a positive return on equity of 14.92%. The firm had revenue of $886.70 million for the quarter, compared to analyst estimates of $851.95 million. During the same quarter in the prior year, the business earned $0.03 EPS. The company’s revenue for the quarter was up 36.2% compared to the same quarter last year. On average, research analysts predict that Qorvo, Inc. will post 4.84 EPS for the current fiscal year.

Qorvo Profile

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.