Ninety One UK Ltd Has $59.85 Million Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

Ninety One UK Ltd cut its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 531,443 shares of the semiconductor company’s stock after selling 25,161 shares during the period. Ninety One UK Ltd owned 0.55% of Qorvo worth $59,846,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Barclays PLC increased its position in Qorvo by 646.2% during the third quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company’s stock worth $369,091,000 after acquiring an additional 3,347,972 shares during the period. Norges Bank acquired a new position in shares of Qorvo during the 4th quarter worth approximately $101,478,000. UBS Group AG raised its position in shares of Qorvo by 491.9% in the third quarter. UBS Group AG now owns 1,267,273 shares of the semiconductor company’s stock valued at $120,987,000 after buying an additional 1,053,157 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Qorvo by 142.1% in the first quarter. JPMorgan Chase & Co. now owns 1,271,221 shares of the semiconductor company’s stock valued at $129,119,000 after buying an additional 746,216 shares in the last quarter. Finally, Baupost Group LLC MA boosted its stake in shares of Qorvo by 11.8% in the first quarter. Baupost Group LLC MA now owns 6,645,712 shares of the semiconductor company’s stock valued at $824,733,000 after buying an additional 699,968 shares during the period. Institutional investors own 88.57% of the company’s stock.

Qorvo Trading Down 1.0 %

NASDAQ QRVO traded down $1.10 during trading hours on Thursday, reaching $108.85. The company’s stock had a trading volume of 374,352 shares, compared to its average volume of 1,249,405. The firm has a fifty day simple moving average of $113.98 and a 200-day simple moving average of $104.37. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.90 and a quick ratio of 1.33. Qorvo, Inc. has a 52 week low of $80.62 and a 52 week high of $121.65. The stock has a market cap of $10.51 billion, a P/E ratio of -50.93, a P/E/G ratio of 0.85 and a beta of 1.56.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.47. Qorvo had a negative net margin of 6.11% and a positive return on equity of 10.41%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1 billion. Equities analysts forecast that Qorvo, Inc. will post 4.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Gina Harrison sold 354 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $40,356.00. Following the completion of the transaction, the vice president now directly owns 18,442 shares in the company, valued at $2,102,388. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Gina Harrison sold 354 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $40,356.00. Following the completion of the sale, the vice president now directly owns 18,442 shares in the company, valued at $2,102,388. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Paul J. Fego sold 3,027 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $345,078.00. Following the completion of the transaction, the senior vice president now owns 29,705 shares in the company, valued at approximately $3,386,370. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,381 shares of company stock valued at $745,434. 0.43% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Qorvo from $95.00 to $105.00 and gave the company an “underweight” rating in a report on Thursday, February 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $125.00 price objective on shares of Qorvo in a research report on Thursday, February 1st. StockNews.com downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Craig Hallum boosted their target price on shares of Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, Barclays increased their price target on shares of Qorvo from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Qorvo currently has a consensus rating of “Hold” and an average target price of $111.53.

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.