Capital Analysts LLC Buys 4,657 Shares of Qorvo Inc (QRVO)

Capital Analysts LLC boosted its stake in shares of Qorvo Inc (NASDAQ:QRVO) by 469.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,650 shares of the semiconductor company’s stock after acquiring an additional 4,657 shares during the quarter. Capital Analysts LLC’s holdings in Qorvo were worth $1,073,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. raised its position in Qorvo by 1.4% during the fourth quarter. BlackRock Inc. now owns 8,601,788 shares of the semiconductor company’s stock valued at $572,880,000 after acquiring an additional 120,708 shares in the last quarter. Ameriprise Financial Inc. raised its position in Qorvo by 4.3% during the third quarter. Ameriprise Financial Inc. now owns 4,657,995 shares of the semiconductor company’s stock valued at $329,228,000 after acquiring an additional 194,106 shares in the last quarter. Boston Partners raised its position in Qorvo by 47.5% during the fourth quarter. Boston Partners now owns 2,869,210 shares of the semiconductor company’s stock valued at $191,089,000 after acquiring an additional 924,017 shares in the last quarter. Manning & Napier Advisors LLC raised its position in Qorvo by 52.5% during the third quarter. Manning & Napier Advisors LLC now owns 2,443,052 shares of the semiconductor company’s stock valued at $172,674,000 after acquiring an additional 840,755 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in Qorvo during the third quarter valued at approximately $118,506,000. Institutional investors own 96.61% of the company’s stock.

Shares of Qorvo Inc (NASDAQ:QRVO) opened at $80.13 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.62 and a current ratio of 4.72. Qorvo Inc has a 12-month low of $62.68 and a 12-month high of $85.24. The company has a market capitalization of $10,350.00, a P/E ratio of 82.61, a P/E/G ratio of 1.38 and a beta of 1.05.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $1.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.60 by $0.09. Qorvo had a return on equity of 11.72% and a net margin of 0.95%. The firm had revenue of $845.70 million during the quarter, compared to analysts’ expectations of $841.09 million. During the same period in the previous year, the business earned $1.35 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. analysts predict that Qorvo Inc will post 4.49 EPS for the current fiscal year.

In related news, VP Gina Harrison sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $71.53, for a total transaction of $71,530.00. Following the completion of the sale, the vice president now directly owns 15,954 shares in the company, valued at $1,141,189.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Walter H. Wilkinson sold 15,925 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $80.02, for a total value of $1,274,318.50. Following the sale, the director now owns 62,480 shares of the company’s stock, valued at $4,999,649.60. The disclosure for this sale can be found here. Insiders have sold 42,996 shares of company stock valued at $3,193,399 over the last quarter. 0.91% of the stock is owned by company insiders.

QRVO has been the subject of several recent research reports. Northland Securities cut Qorvo from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 2nd. Instinet upgraded Qorvo from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Thursday, February 1st. BidaskClub cut Qorvo from a “hold” rating to a “sell” rating in a research report on Wednesday, December 6th. JPMorgan Chase & Co. set a $88.00 price target on Qorvo and gave the company a “buy” rating in a research report on Wednesday, November 15th. Finally, Zacks Investment Research cut Qorvo from a “hold” rating to a “sell” rating in a research report on Monday, January 22nd. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have assigned a buy rating to the company. Qorvo has an average rating of “Hold” and a consensus target price of $80.42.

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About Qorvo

Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).

Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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