First Trust Direct Indexing L.P. Has $352,000 Stake in Qorvo, Inc. (NASDAQ:QRVO)

First Trust Direct Indexing L.P. lifted its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 17.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,403 shares of the semiconductor company’s stock after purchasing an additional 503 shares during the period. First Trust Direct Indexing L.P.’s holdings in Qorvo were worth $352,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Qorvo during the second quarter worth approximately $29,000. EverSource Wealth Advisors LLC lifted 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 valued at $30,000 after buying an additional 115 shares during the period. Versant Capital Management Inc lifted its holdings in Qorvo by 9,333.3% in the second quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 280 shares during the period. New Millennium Group LLC acquired a new position in Qorvo in the second quarter valued at approximately $34,000. Finally, Blue Trust Inc. lifted its holdings in Qorvo by 241.6% in the second quarter. Blue Trust Inc. now owns 345 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 244 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 completion of the transaction, the vice president now owns 21,601 shares in the company, valued at approximately $2,325,779.67. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

QRVO has been the topic of several analyst reports. Raymond James lowered shares of Qorvo from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Craig Hallum cut their price objective on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. cut their price objective on shares of Qorvo from $115.00 to $95.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Susquehanna cut their price objective on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Finally, Bank of America lowered their target price on shares of Qorvo from $115.00 to $80.00 and set an “underperform” rating for the company in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Qorvo has a consensus rating of “Hold” and a consensus target price of $104.75.

Qorvo Stock Up 0.8 %

Shares of QRVO stock opened at $71.86 on Monday. The firm has a fifty day moving average of $102.41 and a 200-day moving average of $107.19. The company has a quick ratio of 1.36, a current ratio of 1.90 and a debt-to-equity ratio of 0.45. Qorvo, Inc. has a 12-month low of $70.39 and a 12-month high of $130.99. The company has a market capitalization of $6.79 billion, a price-to-earnings ratio of -49.22, a P/E/G ratio of 3.98 and a beta of 1.49.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.03. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $1.99 earnings per share. The firm’s revenue was down 5.2% compared to the same quarter last year. As a group, equities research analysts predict that Qorvo, Inc. will post 4.84 earnings per share for the current fiscal year.

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.