Brandywine Global Investment Management LLC boosted its position in shares of Qorvo (NASDAQ:QRVO) by 2.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 114,995 shares of the semiconductor company’s stock after purchasing an additional 3,270 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.09% of Qorvo worth $7,659,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in the business. Profund Advisors LLC raised its holdings in Qorvo by 25.4% during the 4th quarter. Profund Advisors LLC now owns 31,595 shares of the semiconductor company’s stock worth $2,104,000 after purchasing an additional 6,394 shares during the last quarter. MANA Advisors LLC bought a new stake in Qorvo during the 4th quarter worth about $774,000. MD Sass Investors Services Inc. raised its holdings in Qorvo by 33.9% during the 4th quarter. MD Sass Investors Services Inc. now owns 361,790 shares of the semiconductor company’s stock worth $24,097,000 after purchasing an additional 91,665 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in Qorvo during the 4th quarter worth about $1,930,000. Finally, Lombard Odier Asset Management Switzerland SA bought a new stake in Qorvo during the 4th quarter worth about $972,000. 97.55% of the stock is owned by hedge funds and other institutional investors.
In other Qorvo news, VP Gina Harrison sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $82.83, for a total transaction of $82,830.00. Following the completion of the transaction, the vice president now owns 14,954 shares of the company’s stock, valued at approximately $1,238,639.82. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel A. Dileo sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $83.97, for a total value of $209,925.00. Following the transaction, the director now directly owns 27,282 shares of the company’s stock, valued at approximately $2,290,869.54. The disclosure for this sale can be found here. Insiders sold a total of 21,500 shares of company stock valued at $1,671,675 over the last quarter. 0.91% of the stock is owned by insiders.
Shares of QRVO traded down $1.69 on Friday, hitting $69.72. The company’s stock had a trading volume of 1,263,149 shares, compared to its average volume of 2,097,199. 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 has a fifty-two week low of $62.68 and a fifty-two week high of $86.84. The firm has a market capitalization of $9,032.91, a PE ratio of 17.21, a P/E/G ratio of 0.99 and a beta of 0.92.
Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, beating 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 business had revenue of $845.70 million during the quarter, compared to analyst estimates of $841.09 million. During the same period in the previous year, the firm earned $1.35 EPS. Qorvo’s quarterly revenue was up 2.3% compared to the same quarter last year. equities research analysts predict that Qorvo will post 4.49 EPS for the current fiscal year.
Several brokerages have weighed in on QRVO. Barclays boosted their price objective on Qorvo from $75.00 to $87.00 and gave the stock an “equal weight” rating in a report on Thursday, February 1st. BidaskClub lowered Qorvo from a “hold” rating to a “sell” rating in a research report on Friday, March 23rd. Morgan Stanley boosted their target price on Qorvo from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. Piper Jaffray initiated coverage on Qorvo in a research report on Monday, February 26th. They set an “overweight” rating and a $90.00 target price for the company. Finally, Summit Redstone lowered Qorvo from a “hold” rating to a “sell” rating in a research report on Thursday, February 1st. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $81.47.
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Qorvo Company Profile
Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PA), low noise amplifiers, switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.
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