Boston Partners Grows Stock Holdings in Qorvo, Inc. $QRVO

Boston Partners boosted its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 190.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 332,626 shares of the semiconductor company’s stock after purchasing an additional 218,251 shares during the quarter. Boston Partners’ holdings in Qorvo were worth $28,245,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Banque Transatlantique SA purchased a new stake in shares of Qorvo during the 1st quarter worth approximately $27,000. Larson Financial Group LLC boosted its position in Qorvo by 222.6% during the first quarter. Larson Financial Group LLC now owns 429 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 296 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Qorvo in the first quarter valued at $34,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Qorvo by 166.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 485 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 303 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Qorvo during the 2nd quarter worth $43,000. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Qorvo

In other news, SVP Paul J. Fego sold 13,612 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $95.00, for a total transaction of $1,293,140.00. Following the transaction, the senior vice president directly owned 54,558 shares in the company, valued at $5,183,010. This represents a 19.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.41% of the stock is currently owned by insiders.

Qorvo Trading Up 1.5%

Shares of Qorvo stock opened at $87.84 on Thursday. Qorvo, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $106.30. The business’s fifty day moving average is $90.80 and its two-hundred day moving average is $85.56. The company has a quick ratio of 2.20, a current ratio of 2.95 and a debt-to-equity ratio of 0.44. The firm has a market cap of $8.12 billion, a PE ratio of 38.03, a P/E/G ratio of 1.57 and a beta of 1.44.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, November 4th. The semiconductor company reported $2.22 EPS for the quarter, beating the consensus estimate of $2.03 by $0.19. Qorvo had a return on equity of 13.30% and a net margin of 5.95%.During the same period last year, the company earned $1.88 earnings per share. Qorvo’s revenue was up 1.1% on a year-over-year basis. Analysts anticipate that Qorvo, Inc. will post 4.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

QRVO has been the subject of several recent research reports. Needham & Company LLC raised their target price on shares of Qorvo from $90.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. raised shares of Qorvo from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $92.00 to $105.00 in a research note on Tuesday, November 4th. Craig Hallum reaffirmed a “buy” rating on shares of Qorvo in a research note on Wednesday, July 30th. UBS Group increased their target price on Qorvo from $100.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Finally, Weiss Ratings raised Qorvo from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, November 7th. Three research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $102.00.

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.