Livforsakringsbolaget Skandia Omsesidigt Invests $41,000 in Qorvo, Inc. (NASDAQ:QRVO)

Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 400 shares of the semiconductor company’s stock, valued at approximately $41,000.

Several other institutional investors also recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Qorvo during the 2nd quarter valued at about $29,000. Park Place Capital Corp boosted its holdings in Qorvo by 398.1% in the first quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 207 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Qorvo by 81.0% in the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 115 shares during the last quarter. Versant Capital Management Inc grew its position in Qorvo by 9,333.3% in the 2nd quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 280 shares during the period. Finally, New Millennium Group LLC purchased a new stake in Qorvo during the 2nd quarter valued at $34,000. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Stock Performance

NASDAQ:QRVO opened at $104.00 on Thursday. The stock has a 50-day moving average price of $106.38 and a 200 day moving average price of $108.84. The stock has a market capitalization of $9.88 billion, a P/E ratio of -142.47, a P/E/G ratio of 1.24 and a beta of 1.45. Qorvo, Inc. has a 12-month low of $80.62 and a 12-month high of $130.99. The company has a current ratio of 1.95, a quick ratio of 1.36 and a debt-to-equity ratio of 0.44.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share (EPS) 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 analysts’ expectations of $851.95 million. During the same quarter last year, the business posted $0.03 earnings per share. The company’s revenue for the quarter was up 36.2% compared to the same quarter last year. Equities research analysts forecast that Qorvo, Inc. will post 4.84 EPS for the current fiscal year.

Insider Buying and Selling at Qorvo

In other news, VP Gina Harrison sold 689 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $107.67, for a total transaction of $74,184.63. Following the completion of the transaction, the vice president now owns 21,601 shares in the company, valued at $2,325,779.67. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.46% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on QRVO shares. Barclays dropped their price target on Qorvo from $125.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 10th. TD Cowen raised shares of Qorvo to a “hold” rating in a research report on Monday, September 16th. Morgan Stanley downgraded shares of Qorvo from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $130.00 to $120.00 in a report on Friday, October 11th. The Goldman Sachs Group upped their target price on shares of Qorvo from $105.00 to $118.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Susquehanna dropped their price target on shares of Qorvo from $145.00 to $135.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Qorvo currently has an average rating of “Hold” and an average target price of $122.71.

Qorvo Company 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.