Qorvo, Inc. (NASDAQ:QRVO) Shares Acquired by Acadian Asset Management LLC

Acadian Asset Management LLC grew its stake in Qorvo, Inc. (NASDAQ:QRVO) by 1,531.6% during the 1st quarter, Holdings Channel reports. The firm owned 116,760 shares of the semiconductor company’s stock after purchasing an additional 109,604 shares during the quarter. Acadian Asset Management LLC’s holdings in Qorvo were worth $13,404,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Highland Capital Management LLC grew its position in shares of Qorvo by 48.9% in the fourth quarter. Highland Capital Management LLC now owns 42,790 shares of the semiconductor company’s stock valued at $4,819,000 after purchasing an additional 14,060 shares during the period. SG Americas Securities LLC lifted its stake in shares of Qorvo by 298.9% in the fourth quarter. SG Americas Securities LLC now owns 17,803 shares of the semiconductor company’s stock worth $2,005,000 after buying an additional 13,340 shares in the last quarter. FIL Ltd lifted its stake in shares of Qorvo by 4.5% in the fourth quarter. FIL Ltd now owns 2,778,629 shares of the semiconductor company’s stock worth $312,901,000 after buying an additional 120,213 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Qorvo by 44.4% in the first quarter. Daiwa Securities Group Inc. now owns 13,247 shares of the semiconductor company’s stock worth $1,521,000 after buying an additional 4,072 shares in the last quarter. Finally, Leeward Investments LLC MA lifted its stake in shares of Qorvo by 50.6% in the first quarter. Leeward Investments LLC MA now owns 154,346 shares of the semiconductor company’s stock worth $17,724,000 after buying an additional 51,850 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Trading Down 2.2 %

Shares of Qorvo stock traded down $2.79 on Friday, reaching $121.80. The company had a trading volume of 1,178,199 shares, compared to its average volume of 1,308,977. The firm’s 50 day moving average price is $109.55 and its two-hundred day moving average price is $109.72. The firm has a market cap of $11.57 billion, a PE ratio of -166.85, a PEG ratio of 1.18 and a beta of 1.46. Qorvo, Inc. has a 52-week low of $80.62 and a 52-week high of $130.99. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.41 and a current ratio of 1.99.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. The business had revenue of $941.00 million for the quarter, compared to the consensus estimate of $927.24 million. Qorvo had a negative net margin of 1.86% and a positive return on equity of 13.43%. The business’s revenue was up 48.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 EPS. Sell-side analysts predict that Qorvo, Inc. will post 5.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

QRVO has been the topic of several research reports. Barclays decreased their price target on shares of Qorvo from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. StockNews.com raised shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Monday, July 15th. Needham & Company LLC reissued a “buy” rating and issued a $110.00 price target on shares of Qorvo in a research note on Wednesday, June 12th. Benchmark decreased their price target on shares of Qorvo from $136.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Finally, Mizuho reduced their target price on shares of Qorvo from $115.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $112.94.

Insider Activity

In related news, CEO Robert A. Bruggeworth sold 22,299 shares of Qorvo stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $99.31, for a total value of $2,214,513.69. Following the completion of the transaction, the chief executive officer now owns 154,714 shares in the company, valued at $15,364,647.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Robert A. Bruggeworth sold 22,299 shares of Qorvo stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $99.31, for a total value of $2,214,513.69. Following the completion of the transaction, the chief executive officer now owns 154,714 shares in the company, valued at $15,364,647.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert A. Bruggeworth sold 4,721 shares of Qorvo stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $100.00, for a total transaction of $472,100.00. Following the completion of the transaction, the chief executive officer now owns 205,440 shares of the company’s stock, valued at approximately $20,544,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,372 shares of company stock valued at $4,517,858. Company insiders own 0.46% of the company’s stock.

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.