Atria Investments Inc Has $267,000 Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

Atria Investments Inc lifted its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 12.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,584 shares of the semiconductor company’s stock after purchasing an additional 293 shares during the period. Atria Investments Inc’s holdings in Qorvo were worth $267,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. O Shaughnessy Asset Management LLC increased its stake in shares of Qorvo by 15.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,272 shares of the semiconductor company’s stock valued at $376,000 after buying an additional 443 shares during the period. Bessemer Group Inc. increased its position in Qorvo by 1,361.9% during the 1st quarter. Bessemer Group Inc. now owns 13,596 shares of the semiconductor company’s stock valued at $1,562,000 after purchasing an additional 12,666 shares during the period. Pitcairn Co. bought a new position in Qorvo during the 1st quarter worth approximately $201,000. Canada Pension Plan Investment Board lifted its position in shares of Qorvo by 23.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 370,200 shares of the semiconductor company’s stock worth $42,510,000 after purchasing an additional 71,200 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in shares of Qorvo by 23,191.0% in the 1st quarter. Lazard Asset Management LLC now owns 20,729 shares of the semiconductor company’s stock valued at $2,380,000 after purchasing an additional 20,640 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on QRVO. StockNews.com downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Needham & Company LLC began coverage on Qorvo in a research report on Monday, October 28th. They issued a “buy” rating and a $135.00 price objective for the company. Loop Capital assumed coverage on Qorvo in a research report on Monday, November 11th. They set a “hold” rating and a $73.00 target price on the stock. Rosenblatt Securities raised their target price on Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Raymond James cut Qorvo from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $102.88.

Insiders Place Their Bets

In other Qorvo 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 completion of the transaction, the vice president now 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 through this link. Insiders own 0.46% of the company’s stock.

Qorvo Price Performance

Shares of NASDAQ QRVO opened at $69.25 on Friday. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of -47.43, a PEG ratio of 5.31 and a beta of 1.49. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90. Qorvo, Inc. has a fifty-two week low of $64.98 and a fifty-two week high of $130.99. The firm’s 50-day simple moving average is $90.84 and its 200 day simple moving average is $103.23.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the company earned $1.99 earnings per share. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, research analysts anticipate that Qorvo, Inc. will post 3.37 earnings per share for the current fiscal year.

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.