7,042 Shares in Qorvo, Inc. (NASDAQ:QRVO) Acquired by MBB Public Markets I LLC

MBB Public Markets I LLC purchased a new stake in Qorvo, Inc. (NASDAQ:QRVO) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 7,042 shares of the semiconductor company’s stock, valued at approximately $817,000.

Several other institutional investors have also modified their holdings of the business. APG Asset Management N.V. raised its holdings in Qorvo by 21.9% in the second quarter. APG Asset Management N.V. now owns 101,243 shares of the semiconductor company’s stock valued at $10,962,000 after acquiring an additional 18,178 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Qorvo by 78.2% in the 2nd quarter. AQR Capital Management LLC now owns 287,596 shares of the semiconductor company’s stock valued at $32,737,000 after purchasing an additional 126,170 shares in the last quarter. Caxton Associates LP acquired a new stake in shares of Qorvo in the 2nd quarter valued at $34,812,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Qorvo by 59.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 18,492 shares of the semiconductor company’s stock worth $2,146,000 after purchasing an additional 6,881 shares in the last quarter. Finally, Distillate Capital Partners LLC purchased a new position in Qorvo in the second quarter valued at $14,363,000. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Trading Down 3.4 %

Shares of QRVO stock opened at $99.78 on Wednesday. The company has a market capitalization of $9.48 billion, a P/E ratio of -136.68, a price-to-earnings-growth ratio of 1.24 and a beta of 1.46. The company has a current ratio of 1.95, a quick ratio of 1.36 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average is $109.39 and its two-hundred day moving average is $109.78. Qorvo, Inc. has a twelve month low of $80.62 and a twelve month high of $130.99.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate 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 previous year, the company posted $0.03 EPS. Qorvo’s revenue was up 36.2% compared to the same quarter last year. Equities analysts forecast that Qorvo, Inc. will post 4.84 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on QRVO. Needham & Company LLC upped their price objective on Qorvo from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price target on Qorvo from $100.00 to $115.00 and gave the company an “underweight” rating in a report on Wednesday, July 31st. Raymond James raised their price objective on shares of Qorvo from $115.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. TD Cowen upgraded shares of Qorvo to a “hold” rating in a report on Monday, September 16th. Finally, The Goldman Sachs Group lifted their price target on shares of Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $121.00.

Insider Activity at Qorvo

In other Qorvo news, VP Gina Harrison sold 689 shares of the business’s stock in a transaction that occurred on 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 owns 21,601 shares in the company, valued at approximately $2,325,779.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is owned by insiders.

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.