Mutual of America Capital Management LLC boosted its position in Qorvo, Inc. (NASDAQ:QRVO – Get Rating) by 1.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,260 shares of the semiconductor company’s stock after purchasing an additional 263 shares during the period. Mutual of America Capital Management LLC’s holdings in Qorvo were worth $3,135,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Standard Family Office LLC purchased a new position in Qorvo during the fourth quarter worth $25,000. Johnson Financial Group Inc. purchased a new position in Qorvo during the fourth quarter worth $26,000. Clearstead Advisors LLC increased its position in Qorvo by 66.7% during the fourth quarter. Clearstead Advisors LLC now owns 250 shares of the semiconductor company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in Qorvo during the fourth quarter worth $42,000. Finally, AdvisorNet Financial Inc increased its position in Qorvo by 211.3% during the first quarter. AdvisorNet Financial Inc now owns 302 shares of the semiconductor company’s stock worth $37,000 after buying an additional 205 shares in the last quarter. 85.87% of the stock is owned by hedge funds and other institutional investors.
Qorvo Trading Up 4.3 %
NASDAQ:QRVO opened at $104.10 on Thursday. The business’s 50-day moving average is $101.60 and its two-hundred day moving average is $117.46. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.63 and a quick ratio of 2.51. Qorvo, Inc. has a 12 month low of $90.16 and a 12 month high of $201.46. The firm has a market capitalization of $10.80 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 1.08 and a beta of 1.36.
Qorvo (NASDAQ:QRVO – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The semiconductor company reported $3.03 EPS for the quarter, beating the consensus estimate of $2.71 by $0.32. Qorvo had a return on equity of 28.07% and a net margin of 22.24%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the company posted $2.59 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. Research analysts predict that Qorvo, Inc. will post 9.65 earnings per share for the current fiscal year.
Analyst Ratings Changes
QRVO has been the subject of several recent research reports. Piper Sandler dropped their price target on Qorvo from $190.00 to $135.00 in a research report on Thursday, May 5th. Raymond James decreased their price objective on Qorvo from $180.00 to $155.00 in a report on Thursday, May 5th. Craig Hallum decreased their price objective on Qorvo from $225.00 to $180.00 in a report on Thursday, May 5th. KGI Securities cut Qorvo from an “outperform” rating to a “neutral” rating and set a $140.00 price objective on the stock. in a report on Friday, April 1st. Finally, Cowen cut Qorvo from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $150.00 to $108.00 in a report on Monday, July 11th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $141.19.
Insider Transactions at Qorvo
In other news, Director Roderick Nelson sold 4,761 shares of Qorvo stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $104.45, for a total transaction of $497,286.45. Following the sale, the director now directly owns 5,595 shares of the company’s stock, valued at $584,397.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP Paul J. Fego sold 1,145 shares of Qorvo stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $104.45, for a total transaction of $119,595.25. Following the sale, the vice president now directly owns 37,190 shares of the company’s stock, valued at $3,884,495.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Roderick Nelson sold 4,761 shares of the business’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $104.45, for a total value of $497,286.45. Following the completion of the sale, the director now directly owns 5,595 shares of the company’s stock, valued at $584,397.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,070 shares of company stock valued at $2,055,769. 0.45% of the stock is currently owned by insiders.
Qorvo, Inc develops and commercializes technologies and products for wireless, wired, and power markets worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. It offers mobile devices, such as smartphones, wearables, laptops, tablets and other devices; radio frequency power management integrated circuits, ultra-wideband (UWB) system-on-a-chip (SoC) and system-in-package (SiP) solutions, MEMS-based sensors, antenna tuners, and antennaplexers, as well as discrete multiplexers, duplexers, filters, and switches; and cellular base stations include switch-low noise amplifier (LNA) modules, variable gain amplifiers, integrated power amplifier (PA) Doherty modules, discrete LNAs, and high power GaN amplifiers.
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