Stephens Inc. AR Grows Position in Qorvo, Inc. (NASDAQ:QRVO)

Stephens Inc. AR lifted its stake in shares of Qorvo, Inc. (NASDAQ:QRVOGet Rating) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,108 shares of the semiconductor company’s stock after buying an additional 359 shares during the quarter. Stephens Inc. AR’s holdings in Qorvo were worth $1,268,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Point72 Asset Management L.P. grew its stake in Qorvo by 71.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 236,149 shares of the semiconductor company’s stock valued at $39,482,000 after purchasing an additional 98,377 shares in the last quarter. Franklin Resources Inc. grew its stake in Qorvo by 151.0% during the 3rd quarter. Franklin Resources Inc. now owns 42,486 shares of the semiconductor company’s stock valued at $7,103,000 after purchasing an additional 25,560 shares in the last quarter. Geode Capital Management LLC grew its stake in Qorvo by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,124,349 shares of the semiconductor company’s stock valued at $354,281,000 after purchasing an additional 53,922 shares in the last quarter. Cornercap Investment Counsel Inc. grew its stake in Qorvo by 35.9% during the 3rd quarter. Cornercap Investment Counsel Inc. now owns 10,681 shares of the semiconductor company’s stock valued at $1,786,000 after purchasing an additional 2,822 shares in the last quarter. Finally, Panview Asian Equity Master Fund grew its stake in Qorvo by 103.0% during the 4th quarter. Panview Asian Equity Master Fund now owns 67,000 shares of the semiconductor company’s stock valued at $10,478,000 after purchasing an additional 34,000 shares in the last quarter. Institutional investors and hedge funds own 85.87% of the company’s stock.

Qorvo stock traded up $3.71 during mid-day trading on Friday, hitting $112.19. 1,186,961 shares of the company’s stock traded hands, compared to its average volume of 1,417,167. The firm has a 50 day moving average price of $114.56 and a 200 day moving average price of $133.43. The company has a quick ratio of 2.51, a current ratio of 3.63 and a debt-to-equity ratio of 0.45. The company has a market cap of $11.90 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.70 and a beta of 1.34. Qorvo, Inc. has a one year low of $98.23 and a one year high of $201.46.

Qorvo (NASDAQ:QRVOGet Rating) last announced its earnings results on Wednesday, May 4th. The semiconductor company reported $3.12 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.41. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. Qorvo had a return on equity of 28.07% and a net margin of 22.24%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.59 EPS. On average, analysts expect that Qorvo, Inc. will post 9.65 earnings per share for the current fiscal year.

A number of equities research analysts have weighed in on QRVO shares. Raymond James lowered their price objective on Qorvo from $180.00 to $155.00 in a research note on Thursday, May 5th. Benchmark decreased their target price on Qorvo from $225.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, February 3rd. TheStreet lowered Qorvo from a “b-” rating to a “c+” rating in a research report on Tuesday. Cowen decreased their target price on Qorvo from $230.00 to $195.00 and set an “outperform” rating for the company in a research report on Thursday, February 3rd. Finally, UBS Group decreased their target price on Qorvo from $145.00 to $135.00 in a research report on Thursday, May 5th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $162.09.

In other news, VP Paul J. Fego sold 1,145 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $104.45, for a total value of $119,595.25. Following the sale, the vice president now owns 37,190 shares of the company’s stock, valued at approximately $3,884,495.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roderick Nelson sold 4,761 shares of Qorvo stock in a transaction on Monday, May 16th. The stock was sold at an average price of $104.45, for a total value of $497,286.45. Following the completion of the transaction, the director now owns 5,595 shares in the company, valued at $584,397.75. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by insiders.

Qorvo Profile (Get Rating)

Qorvo, Inc develops and commercializes technologies and products for wireless and wired connectivity worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. The company offers integrated modules incorporating switches, power amplifiers, filters, multiplexers and other components, radio frequency (RF) power management integrated circuits, antenna tuners, antenna-plexers, discrete filters and duplexers, discrete switches, and ultra-wideband (UWB) system solutions.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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