Thrivent Financial for Lutherans boosted its position in shares of Qorvo, Inc. (NASDAQ:QRVO – Free Report) by 1,507.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 347,715 shares of the semiconductor company’s stock after acquiring an additional 326,087 shares during the period. Thrivent Financial for Lutherans’ holdings in Qorvo were worth $40,349,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boston Research & Management Inc. boosted its stake in Qorvo by 0.8% during the second quarter. Boston Research & Management Inc. now owns 36,995 shares of the semiconductor company’s stock valued at $4,292,000 after buying an additional 295 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Qorvo by 17,255.9% during the second quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company’s stock valued at $165,590,000 after buying an additional 1,418,784 shares during the last quarter. AE Wealth Management LLC boosted its stake in Qorvo by 9.3% during the second quarter. AE Wealth Management LLC now owns 150,450 shares of the semiconductor company’s stock valued at $17,458,000 after buying an additional 12,740 shares during the last quarter. Intech Investment Management LLC boosted its stake in Qorvo by 39.8% during the second quarter. Intech Investment Management LLC now owns 49,912 shares of the semiconductor company’s stock valued at $5,792,000 after buying an additional 14,199 shares during the last quarter. Finally, XTX Topco Ltd boosted its stake in Qorvo by 163.9% during the second quarter. XTX Topco Ltd now owns 8,810 shares of the semiconductor company’s stock valued at $1,022,000 after buying an additional 5,471 shares during the last quarter. 88.57% of the stock is owned by institutional investors.
Qorvo Stock Down 0.9 %
Shares of NASDAQ:QRVO opened at $102.26 on Monday. Qorvo, Inc. has a 52-week low of $80.62 and a 52-week high of $130.99. The stock has a market cap of $9.72 billion, a P/E ratio of -140.08, a price-to-earnings-growth ratio of 1.23 and a beta of 1.46. The business’s 50 day moving average is $112.02 and its 200 day moving average is $110.36. The company has a quick ratio of 1.36, a current ratio of 1.95 and a debt-to-equity ratio of 0.44.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on QRVO. Piper Sandler restated a “neutral” rating and set a $120.00 price objective (up from $105.00) on shares of Qorvo in a research report on Wednesday, July 31st. StockNews.com downgraded Qorvo from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Raymond James upped their price objective on Qorvo from $115.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Craig Hallum upped their price objective on Qorvo from $124.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their price objective on Qorvo from $100.00 to $115.00 and gave the company an “underweight” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Qorvo presently has a consensus rating of “Hold” and a consensus target price of $121.00.
Get Our Latest Research Report on Qorvo
Insider Buying and Selling
In related news, VP Gina Harrison sold 689 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $107.67, for a total value of $74,184.63. Following the transaction, the vice president now owns 21,601 shares of the company’s stock, valued at $2,325,779.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.46% of the stock is owned by insiders.
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.
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