International Assets Investment Management LLC Purchases 10,639 Shares of Qorvo, Inc. (NASDAQ:QRVO)

International Assets Investment Management LLC grew its position in Qorvo, Inc. (NASDAQ:QRVO) by 10,229.8% in the third quarter, Holdings Channel reports. The fund owned 10,743 shares of the semiconductor company’s stock after acquiring an additional 10,639 shares during the quarter. International Assets Investment Management LLC’s holdings in Qorvo were worth $1,110,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of 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. Vulcan Value Partners LLC grew its holdings in Qorvo by 35.0% in the second quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company’s stock worth $246,665,000 after purchasing an additional 550,111 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Qorvo by 17,255.9% during the second quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company’s stock valued at $165,590,000 after purchasing an additional 1,418,784 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Qorvo by 0.3% during the 2nd 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 in the last quarter. Finally, Panagora Asset Management Inc. increased its position in Qorvo by 20.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 780,203 shares of the semiconductor company’s stock valued at $90,535,000 after buying an additional 132,866 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors.

Insider Transactions at Qorvo

In other news, VP Gina Harrison sold 689 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $107.67, for a total value of $74,184.63. Following the sale, the vice president now directly owns 21,601 shares in the company, valued at approximately $2,325,779.67. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.46% of the company’s stock.

Qorvo Stock Down 0.7 %

QRVO stock opened at $71.37 on Tuesday. The business’s 50-day moving average is $102.41 and its two-hundred day moving average is $107.17. Qorvo, Inc. has a fifty-two week low of $70.39 and a fifty-two week high of $130.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.36 and a current ratio of 1.90. The company has a market cap of $6.75 billion, a price-to-earnings ratio of -48.88, a P/E/G ratio of 3.98 and a beta of 1.49.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company earned $1.99 earnings per share. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, analysts forecast that Qorvo, Inc. will post 4.84 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on QRVO shares. Bank of America cut their target price on Qorvo from $115.00 to $80.00 and set an “underperform” rating on the stock in a report on Wednesday, October 30th. Benchmark cut Qorvo from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lowered their target price on shares of Qorvo from $115.00 to $95.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Barclays dropped their target price on shares of Qorvo from $120.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 30th. Finally, Morgan Stanley lowered shares of Qorvo from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $130.00 to $120.00 in a research report on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.