V Square Quantitative Management LLC Acquires 107 Shares of Qorvo, Inc. (NASDAQ:QRVO)

V Square Quantitative Management LLC boosted its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,233 shares of the semiconductor company’s stock after purchasing an additional 107 shares during the period. V Square Quantitative Management LLC’s holdings in Qorvo were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Qorvo during the 2nd quarter worth about $29,000. Park Place Capital Corp boosted its position in Qorvo by 398.1% during the first quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 207 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Qorvo by 81.0% in the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 115 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Qorvo by 9,333.3% during the 2nd quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 280 shares in the last quarter. Finally, New Millennium Group LLC acquired a new stake in shares of Qorvo in the 2nd quarter valued at approximately $34,000. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on QRVO. Morgan Stanley downgraded shares of Qorvo from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $130.00 to $120.00 in a report on Friday, October 11th. The Goldman Sachs Group upped their target price on shares of Qorvo from $105.00 to $118.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. StockNews.com downgraded Qorvo from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Barclays cut their price objective on Qorvo from $125.00 to $120.00 and set an “equal weight” rating for the company in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. boosted their target price on Qorvo from $100.00 to $115.00 and gave the stock an “underweight” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $122.71.

Qorvo Price Performance

NASDAQ:QRVO opened at $104.50 on Monday. Qorvo, Inc. has a 52 week low of $80.62 and a 52 week high of $130.99. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.36 and a current ratio of 1.95. The firm’s 50-day simple moving average is $106.29 and its 200 day simple moving average is $108.71. The firm has a market cap of $9.93 billion, a price-to-earnings ratio of -143.15, a P/E/G ratio of 1.26 and a beta of 1.45.

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

Insiders Place Their Bets

In other news, VP Gina Harrison sold 689 shares of the company’s stock in a transaction on 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 sale, the vice president now directly owns 21,601 shares in the company, valued at approximately $2,325,779.67. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

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.