Sei Investments Co. Buys 11,058 Shares of Qorvo Inc (NASDAQ:QRVO)

Sei Investments Co. lifted its stake in Qorvo Inc (NASDAQ:QRVO) by 9.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 122,220 shares of the semiconductor company’s stock after purchasing an additional 11,058 shares during the period. Sei Investments Co. owned 0.11% of Qorvo worth $13,508,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Ameritas Investment Company LLC acquired a new stake in Qorvo in the first quarter valued at $31,000. CSat Investment Advisory L.P. raised its stake in shares of Qorvo by 32.5% in the first quarter. CSat Investment Advisory L.P. now owns 620 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 152 shares during the period. Private Advisor Group LLC bought a new position in Qorvo during the 2nd quarter valued at about $52,000. Royal Fund Management LLC purchased a new position in Qorvo during the 1st quarter worth approximately $69,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Qorvo by 212.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 935 shares of the semiconductor company’s stock valued at $75,000 after purchasing an additional 636 shares in the last quarter. Institutional investors own 85.94% of the company’s stock.

In other news, CEO Robert A. Bruggeworth sold 4,555 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $131.40, for a total value of $598,527.00. Following the transaction, the chief executive officer now owns 179,547 shares of the company’s stock, valued at approximately $23,592,475.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Steven E. Creviston sold 2,000 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $123.59, for a total transaction of $247,180.00. Following the sale, the vice president now owns 61,944 shares of the company’s stock, valued at approximately $7,655,658.96. The disclosure for this sale can be found here. Insiders have sold 26,658 shares of company stock worth $3,353,439 over the last three months. 0.66% of the stock is owned by insiders.

Several brokerages recently commented on QRVO. Wells Fargo & Company boosted their price target on shares of Qorvo from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, September 9th. Oppenheimer raised Qorvo from a “market perform” rating to an “outperform” rating and set a $150.00 target price for the company in a research note on Thursday, July 30th. Bank of America restated a “buy” rating on shares of Qorvo in a research report on Thursday, May 21st. Goldman Sachs Group raised their price target on shares of Qorvo from $115.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Finally, Loop Capital lifted their target price on shares of Qorvo from $147.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, September 9th. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $129.33.

Shares of Qorvo stock opened at $130.50 on Wednesday. The firm has a market cap of $14.85 billion, a PE ratio of 39.15, a price-to-earnings-growth ratio of 1.76 and a beta of 1.44. The company has a quick ratio of 3.05, a current ratio of 4.08 and a debt-to-equity ratio of 0.43. The business’s fifty day simple moving average is $127.36 and its 200-day simple moving average is $105.49. Qorvo Inc has a 52 week low of $67.54 and a 52 week high of $136.06.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported $1.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.37. Qorvo had a net margin of 12.05% and a return on equity of 16.10%. The company had revenue of $787.50 million for the quarter, compared to the consensus estimate of $729.91 million. During the same period last year, the firm posted $1.36 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities analysts expect that Qorvo Inc will post 6.12 earnings per share for the current year.

Qorvo Profile

Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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