Systematic Financial Management LP Purchases 4,019 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Systematic Financial Management LP lifted its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 2.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 174,874 shares of the semiconductor company’s stock after buying an additional 4,019 shares during the period. Systematic Financial Management LP’s holdings in Qorvo were worth $20,292,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Research Global Investors increased its holdings in Qorvo by 2.1% in the first quarter. Capital Research Global Investors now owns 4,591,985 shares of the semiconductor company’s stock worth $527,298,000 after purchasing an additional 93,068 shares in the last quarter. FIL Ltd increased its stake in shares of Qorvo by 4.5% in the 4th quarter. FIL Ltd now owns 2,778,629 shares of the semiconductor company’s stock valued at $312,901,000 after acquiring an additional 120,213 shares in the last quarter. Vulcan Value Partners LLC lifted its position in shares of Qorvo by 35.0% during the 2nd quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company’s stock valued at $246,665,000 after acquiring an additional 550,111 shares during the period. 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 worth $165,590,000 after acquiring an additional 1,418,784 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Qorvo by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,323,463 shares of the semiconductor company’s stock worth $153,558,000 after purchasing an additional 4,386 shares during the period. Institutional investors own 88.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on QRVO shares. Piper Sandler reiterated a “neutral” rating and set a $120.00 price objective (up previously from $105.00) on shares of Qorvo in a report on Wednesday, July 31st. Craig Hallum increased their price target on Qorvo from $124.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on Qorvo from $100.00 to $115.00 and gave the company an “underweight” rating in a research note on Wednesday, July 31st. Barclays increased their target price on Qorvo from $100.00 to $125.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Finally, Raymond James lifted their price target on shares of Qorvo from $115.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $121.00.

Qorvo Stock Performance

Shares of QRVO opened at $103.60 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.95 and a quick ratio of 1.36. The firm has a market cap of $9.83 billion, a PE ratio of -141.92, a PEG ratio of 1.24 and a beta of 1.46. Qorvo, Inc. has a 1 year low of $80.62 and a 1 year high of $130.99. The stock’s fifty day moving average price is $109.83 and its two-hundred day moving average price is $109.89.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $886.70 million for the quarter, compared to analysts’ expectations of $851.95 million. During the same period in the prior year, the company posted $0.03 EPS. Qorvo’s revenue was up 36.2% compared to the same quarter last year. On average, equities research analysts forecast that Qorvo, Inc. will post 4.84 EPS for the current year.

Insider Buying and Selling

In related news, VP Gina Harrison sold 689 shares of the business’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 completion of 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 filing with the SEC, which is available through this hyperlink. 0.46% of the stock is currently 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.