Gulf International Bank UK Ltd Has $815,000 Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

Gulf International Bank UK Ltd lessened its stake in Qorvo, Inc. (NASDAQ:QRVO) by 3.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,898 shares of the semiconductor company’s stock after selling 286 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Qorvo were worth $815,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. QRG Capital Management Inc. lifted its position in Qorvo by 8.3% in the 3rd quarter. QRG Capital Management Inc. now owns 9,022 shares of the semiconductor company’s stock valued at $932,000 after acquiring an additional 695 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Qorvo by 78.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company’s stock valued at $55,548,000 after purchasing an additional 236,590 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Qorvo by 23.9% in the third quarter. Van ECK Associates Corp now owns 832,292 shares of the semiconductor company’s stock valued at $83,429,000 after purchasing an additional 160,534 shares in the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of Qorvo by 7.5% during the third quarter. Chicago Partners Investment Group LLC now owns 2,789 shares of the semiconductor company’s stock worth $280,000 after buying an additional 194 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in shares of Qorvo by 33.7% during the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after buying an additional 104 shares in the last quarter. Institutional investors own 88.57% of the company’s stock.

Qorvo Price Performance

Qorvo stock opened at $70.35 on Friday. The stock’s 50 day moving average is $98.21 and its 200-day moving average is $105.95. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of -48.18, a PEG ratio of 5.84 and a beta of 1.49. Qorvo, Inc. has a 12 month low of $70.19 and a 12 month high of $130.99. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.03. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the firm earned $1.99 earnings per share. The company’s revenue was down 5.2% on a year-over-year basis. Equities research analysts expect that Qorvo, Inc. will post 3.37 EPS for the current year.

Insider Buying and Selling at Qorvo

In other news, VP Gina Harrison sold 689 shares of the firm’s stock in a transaction that occurred 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 directly owns 21,601 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on QRVO shares. Benchmark lowered shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. StockNews.com downgraded Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. TD Cowen cut their price objective on Qorvo from $125.00 to $85.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Susquehanna decreased their target price on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Finally, Morgan Stanley lowered shares of Qorvo from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $130.00 to $120.00 in a research report on Friday, October 11th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $104.75.

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.