Natixis Advisors LLC Grows Position in Qorvo, Inc. (NASDAQ:QRVO)

Natixis Advisors LLC lifted its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,128 shares of the semiconductor company’s stock after purchasing an additional 2,319 shares during the quarter. Natixis Advisors LLC owned 0.07% of Qorvo worth $6,831,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Mizuho Securities USA LLC raised its position in Qorvo by 871.8% during the third quarter. Mizuho Securities USA LLC now owns 72,237 shares of the semiconductor company’s stock valued at $7,462,000 after purchasing an additional 64,804 shares in the last quarter. Empowered Funds LLC lifted its position in Qorvo by 33.3% in the 3rd quarter. Empowered Funds LLC now owns 11,387 shares of the semiconductor company’s stock worth $1,176,000 after buying an additional 2,843 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Qorvo by 6.9% in the third quarter. CIBC Asset Management Inc now owns 13,923 shares of the semiconductor company’s stock worth $1,438,000 after buying an additional 897 shares in the last quarter. MQS Management LLC bought a new position in Qorvo during the third quarter valued at approximately $246,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Qorvo by 4.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 219,484 shares of the semiconductor company’s stock worth $22,673,000 after acquiring an additional 8,371 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors.

Qorvo Stock Performance

Shares of QRVO opened at $69.25 on Friday. Qorvo, Inc. has a one year low of $64.98 and a one year high of $130.99. The business has a fifty day moving average of $90.84 and a 200 day moving average of $103.23. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38. The firm has a market capitalization of $6.55 billion, a P/E ratio of -47.43, a PEG ratio of 5.31 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 for the quarter, topping the consensus estimate of $1.85 by $0.03. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The business’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.99 EPS. As a group, sell-side analysts anticipate that Qorvo, Inc. will post 3.37 EPS for the current year.

Insider Activity

In other news, VP Gina Harrison sold 689 shares of Qorvo 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 transaction, the vice president now directly owns 21,601 shares of the company’s stock, valued at $2,325,779.67. The trade was a 3.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. reduced their target price 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. Craig Hallum decreased their price objective on Qorvo from $142.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Benchmark cut Qorvo from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Piper Sandler decreased their price target on Qorvo from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, Raymond James cut shares of Qorvo from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Qorvo currently has a consensus rating of “Hold” and an average price target of $102.88.

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.