APG Asset Management N.V. Has $10.96 Million Position in Qorvo, Inc. (NASDAQ:QRVO)

APG Asset Management N.V. boosted its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 21.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 101,243 shares of the semiconductor company’s stock after acquiring an additional 18,178 shares during the period. APG Asset Management N.V. owned 0.11% of Qorvo worth $10,962,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Qorvo in the second quarter valued at about $29,000. Park Place Capital Corp increased its stake in shares of Qorvo by 398.1% in the 1st quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 207 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Qorvo by 81.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 115 shares during the period. Versant Capital Management Inc boosted its stake in Qorvo by 9,333.3% during the 2nd quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 280 shares during the last quarter. Finally, New Millennium Group LLC acquired a new position in Qorvo during the second quarter valued at approximately $34,000. Institutional investors own 88.57% of the company’s stock.

Insider Transactions at Qorvo

In related news, VP Gina Harrison sold 689 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $107.67, for a total value of $74,184.63. Following the completion of the transaction, the vice president now directly owns 21,601 shares of the company’s stock, valued at $2,325,779.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on QRVO shares. Rosenblatt Securities lifted their price target on shares of Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Piper Sandler reissued a “neutral” rating and issued a $120.00 target price (up from $105.00) on shares of Qorvo in a research note on Wednesday, July 31st. Craig Hallum raised their price target on Qorvo from $124.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group boosted their price objective on Qorvo from $105.00 to $118.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of Qorvo from $100.00 to $115.00 and gave the stock an “underweight” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Qorvo currently has an average rating of “Hold” and a consensus target price of $121.00.

Qorvo Stock Down 1.3 %

Qorvo stock opened at $103.60 on Friday. 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, Inc. has a 1-year low of $80.62 and a 1-year high of $130.99. The company has a fifty day simple moving average of $109.83 and a 200 day simple moving average of $109.89. The company has a market cap of $9.83 billion, a P/E ratio of -141.92, a price-to-earnings-growth ratio of 1.24 and a beta of 1.46.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.16. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. The business had revenue of $886.70 million for the quarter, compared to the consensus estimate of $851.95 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. Qorvo’s quarterly revenue was up 36.2% on a year-over-year basis. Research analysts anticipate that Qorvo, Inc. will post 4.84 earnings per share for the current fiscal year.

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.