Fiduciary Group LLC Acquires Shares of 1,385 Qorvo, Inc. (NASDAQ:QRVO)

Fiduciary Group LLC purchased a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO) in the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 1,385 shares of the semiconductor company’s stock, valued at approximately $261,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Baupost Group LLC MA grew its holdings in Qorvo by 49.9% during the fourth quarter. Baupost Group LLC MA now owns 4,440,095 shares of the semiconductor company’s stock valued at $738,255,000 after purchasing an additional 1,477,209 shares during the period. Norges Bank acquired a new position in Qorvo during the fourth quarter worth $223,801,000. Select Equity Group L.P. lifted its position in shares of Qorvo by 132.3% in the fourth quarter. Select Equity Group L.P. now owns 629,283 shares of the semiconductor company’s stock valued at $104,631,000 after acquiring an additional 358,447 shares in the last quarter. Morgan Stanley grew its holdings in shares of Qorvo by 84.8% during the fourth quarter. Morgan Stanley now owns 578,566 shares of the semiconductor company’s stock worth $96,199,000 after buying an additional 265,523 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in Qorvo by 10.9% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,387,366 shares of the semiconductor company’s stock valued at $230,677,000 after acquiring an additional 136,634 shares during the last quarter. 84.57% of the stock is currently owned by institutional investors.

Several brokerages recently issued reports on QRVO. Citigroup reduced their price objective on shares of Qorvo from $188.00 to $170.00 and set a “neutral” rating on the stock in a report on Thursday, February 11th. Oppenheimer reiterated a “buy” rating and issued a $220.00 target price (up from $200.00) on shares of Qorvo in a report on Thursday, January 28th. Wells Fargo & Company boosted their price target on shares of Qorvo from $205.00 to $230.00 and gave the stock an “overweight” rating in a report on Wednesday. Needham & Company LLC increased their price objective on Qorvo from $220.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Benchmark lifted their price target on shares of Qorvo from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, February 4th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $197.70.

QRVO opened at $172.01 on Wednesday. Qorvo, Inc. has a 12-month low of $93.31 and a 12-month high of $201.68. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 1.75. The stock has a market capitalization of $19.48 billion, a PE ratio of 45.27, a P/E/G ratio of 1.47 and a beta of 1.51. The firm’s fifty day moving average price is $188.19 and its 200 day moving average price is $170.05.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Wednesday, May 5th. The semiconductor company reported $2.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.23 by $0.51. Qorvo had a net margin of 12.71% and a return on equity of 18.08%. On average, equities research analysts forecast that Qorvo, Inc. will post 7.79 earnings per share for the current fiscal year.

Qorvo Company Profile

Qorvo, Inc develops and commercializes technologies and products for wireless and wired connectivity worldwide. The company operates in two segments, Mobile Products, and Infrastructure and Defense Products. The company offers integrated modules incorporating switches, power amplifiers, filters and duplexers, antenna tuners, RF power management integrated circuits, multimode/multi-band PAs and transmit modules, antenna-plexers, discrete filters and duplexers, discrete switches, and UWB system solutions, as well as envelope tracking power management solutions, antenna control solutions, and UWB system solutions supporting secure, low power, location, and communication services.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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