Aperio Group LLC grew its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,810 shares of the semiconductor company’s stock after buying an additional 668 shares during the quarter. Aperio Group LLC’s holdings in Qorvo were worth $5,523,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in QRVO. Assenagon Asset Management S.A. increased its stake in shares of Qorvo by 994.3% in the third quarter. Assenagon Asset Management S.A. now owns 743,680 shares of the semiconductor company’s stock valued at $95,942,000 after buying an additional 675,719 shares in the last quarter. FMR LLC increased its position in Qorvo by 285.2% in the second quarter. FMR LLC now owns 804,723 shares of the semiconductor company’s stock worth $88,946,000 after purchasing an additional 595,827 shares during the period. Alyeska Investment Group L.P. increased its position in Qorvo by 1,103.6% in the second quarter. Alyeska Investment Group L.P. now owns 541,555 shares of the semiconductor company’s stock worth $59,858,000 after purchasing an additional 496,561 shares during the period. Balyasny Asset Management LLC acquired a new stake in Qorvo in the second quarter worth about $53,712,000. Finally, Bank of Nova Scotia increased its position in Qorvo by 2,702.3% in the second quarter. Bank of Nova Scotia now owns 335,132 shares of the semiconductor company’s stock worth $37,042,000 after purchasing an additional 323,173 shares during the period. Institutional investors own 85.94% of the company’s stock.
A number of analysts recently commented on the company. BMO Capital Markets lifted their price objective on Qorvo from $125.00 to $135.00 and gave the stock a “market perform” rating in a research report on Thursday, November 5th. Benchmark lifted their price objective on Qorvo from $135.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, November 5th. Morgan Stanley lifted their price objective on Qorvo from $155.00 to $175.00 and gave the stock an “overweight” rating in a research report on Thursday, November 5th. JPMorgan Chase & Co. lifted their price objective on Qorvo from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 9th. Finally, Barclays lifted their price objective on Qorvo from $150.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 5th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $154.63.
NASDAQ:QRVO opened at $147.39 on Friday. Qorvo, Inc. has a fifty-two week low of $67.54 and a fifty-two week high of $154.43. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.08 and a quick ratio of 3.05. The stock has a market capitalization of $16.81 billion, a PE ratio of 44.39, a price-to-earnings-growth ratio of 1.74 and a beta of 1.36. The business’s 50-day simple moving average is $137.44 and its 200-day simple moving average is $121.80.
Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, November 4th. The semiconductor company reported $2.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.49. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Qorvo had a return on equity of 16.10% and a net margin of 12.05%. Qorvo’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.52 EPS. On average, research analysts expect that Qorvo, Inc. will post 6.27 earnings per share for the current 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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