Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Versor Investments LP

Versor Investments LP lessened its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 75.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,227 shares of the semiconductor company’s stock after selling 6,994 shares during the quarter. Versor Investments LP’s holdings in Qorvo were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its stake in shares of Qorvo by 2.1% during the 1st 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 during the last quarter. FIL Ltd boosted its position in Qorvo by 4.5% during the fourth quarter. FIL Ltd now owns 2,778,629 shares of the semiconductor company’s stock worth $312,901,000 after acquiring an additional 120,213 shares during the last quarter. Boston Partners grew its stake in Qorvo by 0.5% in the 4th quarter. Boston Partners now owns 1,436,328 shares of the semiconductor company’s stock worth $161,726,000 after acquiring an additional 6,558 shares during the period. Norges Bank acquired a new position in Qorvo in the 4th quarter valued at $118,120,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Qorvo by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 916,073 shares of the semiconductor company’s stock worth $103,159,000 after purchasing an additional 22,951 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on QRVO. Piper Sandler reaffirmed a “neutral” rating and issued a $120.00 price objective (up previously from $105.00) on shares of Qorvo in a research report on Wednesday, July 31st. Susquehanna lowered their price target on Qorvo from $145.00 to $135.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. The Goldman Sachs Group increased their price objective on shares of Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Raymond James boosted their target price on shares of Qorvo from $115.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, StockNews.com lowered shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Qorvo currently has an average rating of “Hold” and a consensus target price of $121.00.

Qorvo Stock Down 3.5 %

Shares of NASDAQ QRVO opened at $104.35 on Friday. The stock has a fifty day moving average price of $115.31 and a 200 day moving average price of $111.17. The company has a current ratio of 1.95, a quick ratio of 1.36 and a debt-to-equity ratio of 0.44. Qorvo, Inc. has a 12-month low of $80.62 and a 12-month high of $130.99. The company has a market cap of $9.90 billion, a P/E ratio of -142.95, a P/E/G ratio of 1.40 and a beta of 1.46.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.16. The business had revenue of $886.70 million during the quarter, compared to analyst estimates of $851.95 million. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. The company’s revenue for the quarter was up 36.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.03 earnings per share. Research analysts anticipate that Qorvo, Inc. will post 4.84 EPS for the current fiscal year.

About Qorvo

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.