FORA Capital LLC Takes $582,000 Position in Qorvo, Inc. (NASDAQ:QRVO)

FORA Capital LLC bought a new stake in Qorvo, Inc. (NASDAQ:QRVO) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 8,323 shares of the semiconductor company’s stock, valued at approximately $582,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of QRVO. Ameriprise Financial Inc. boosted its stake in shares of Qorvo by 102.0% during the 4th quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company’s stock worth $251,577,000 after acquiring an additional 1,816,811 shares during the period. FIL Ltd raised its position in shares of Qorvo by 5.3% in the fourth quarter. FIL Ltd now owns 3,324,241 shares of the semiconductor company’s stock valued at $232,464,000 after purchasing an additional 166,461 shares during the period. Vulcan Value Partners LLC boosted its holdings in shares of Qorvo by 53.7% during the 4th quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company’s stock worth $180,487,000 after buying an additional 902,353 shares during the period. Amundi grew its stake in Qorvo by 84.4% in the 4th quarter. Amundi now owns 2,143,858 shares of the semiconductor company’s stock valued at $156,673,000 after buying an additional 981,519 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Qorvo by 22.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,419,698 shares of the semiconductor company’s stock valued at $99,280,000 after acquiring an additional 264,167 shares during the period. Institutional investors own 88.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on QRVO shares. Stifel Nicolaus set a $75.00 target price on Qorvo in a research note on Monday, April 28th. Benchmark upgraded shares of Qorvo from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research note on Wednesday, April 30th. Loop Capital cut their price objective on shares of Qorvo from $90.00 to $75.00 and set a “hold” rating for the company in a report on Wednesday, April 30th. The Goldman Sachs Group lowered their target price on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Finally, Barclays raised their price objective on Qorvo from $60.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $91.21.

Qorvo Stock Up 1.1 %

Shares of QRVO opened at $73.19 on Friday. The stock’s 50-day moving average price is $66.45 and its two-hundred day moving average price is $72.04. Qorvo, Inc. has a 12 month low of $49.46 and a 12 month high of $130.99. The company has a market capitalization of $6.84 billion, a PE ratio of 261.39, a PEG ratio of 15.57 and a beta of 1.38. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.42. Qorvo had a return on equity of 12.41% and a net margin of 0.71%. The company had revenue of $869.47 million for the quarter, compared to analyst estimates of $850.13 million. During the same period in the previous year, the firm earned $1.39 earnings per share. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. On average, analysts anticipate that Qorvo, Inc. will post 4.09 EPS for the current year.

Insider Activity at Qorvo

In other news, Director John R. Harding sold 1,450 shares of Qorvo stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $70.09, for a total value of $101,630.50. Following the completion of the transaction, the director now directly owns 7,597 shares of the company’s stock, valued at approximately $532,473.73. This trade represents a 16.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.46% of the stock is owned by company insiders.

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.