Bank of Montreal Can Increases Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Bank of Montreal Can lifted its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 36.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 124,514 shares of the semiconductor company’s stock after buying an additional 33,281 shares during the quarter. Bank of Montreal Can’s holdings in Qorvo were worth $12,900,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Qorvo in the second quarter valued at $29,000. EverSource Wealth Advisors LLC increased its position in shares of Qorvo by 81.0% during the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 115 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Qorvo by 9,333.3% during the second 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. New Millennium Group LLC purchased a new stake in shares of Qorvo in the 2nd quarter valued at about $34,000. Finally, Larson Financial Group LLC boosted its position in shares of Qorvo by 163.4% in the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 201 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Insider Buying and Selling at Qorvo

In other news, VP Gina Harrison sold 689 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $107.67, for a total value of $74,184.63. Following the sale, the vice president now directly owns 21,601 shares in the company, valued at $2,325,779.67. This represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is currently owned by insiders.

Qorvo Price Performance

QRVO stock opened at $69.05 on Friday. The company has a market cap of $6.53 billion, a price-to-earnings ratio of -47.29, a PEG ratio of 5.48 and a beta of 1.49. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average of $86.84 and a 200-day moving average of $102.06. Qorvo, Inc. has a 12-month low of $64.98 and a 12-month high of $130.99.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.03. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the business earned $1.99 earnings per share. Qorvo’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, equities analysts expect that Qorvo, Inc. will post 3.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

QRVO has been the subject of a number of research reports. Needham & Company LLC began coverage on Qorvo in a research note on Monday, October 28th. They issued a “buy” rating and a $135.00 price objective for the company. UBS Group lowered their price objective on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Loop Capital started coverage on shares of Qorvo in a report on Monday, November 11th. They issued a “hold” rating and a $73.00 target price for the company. BNP Paribas lowered Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price target on the stock. in a report on Wednesday, October 30th. Finally, Barclays reduced their price objective on Qorvo from $120.00 to $90.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Qorvo presently has an average rating of “Hold” and a consensus price target of $102.88.

Qorvo Company Profile

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.