iSAM Funds UK Ltd Grows Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

iSAM Funds UK Ltd lifted its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 78.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,321 shares of the semiconductor company’s stock after acquiring an additional 1,905 shares during the period. iSAM Funds UK Ltd’s holdings in Qorvo were worth $446,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of QRVO. GDS Wealth Management purchased a new stake in Qorvo during the third quarter valued at $2,171,000. Robeco Institutional Asset Management B.V. grew its stake in shares of Qorvo by 78.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company’s stock valued at $55,548,000 after purchasing an additional 236,590 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Qorvo during the 3rd quarter valued at about $2,507,000. Quest Partners LLC lifted its stake in shares of Qorvo by 504.6% in the 3rd quarter. Quest Partners LLC now owns 11,596 shares of the semiconductor company’s stock worth $1,198,000 after purchasing an additional 9,678 shares during the period. Finally, APG Asset Management N.V. boosted its holdings in shares of Qorvo by 21.9% in the second quarter. APG Asset Management N.V. now owns 101,243 shares of the semiconductor company’s stock worth $10,962,000 after buying an additional 18,178 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Price Performance

Shares of QRVO stock opened at $68.33 on Friday. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99. The stock has a fifty day simple moving average of $83.48 and a two-hundred day simple moving average of $101.06. The stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of -46.80, a P/E/G ratio of 5.62 and a beta of 1.42. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.03. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. Qorvo’s revenue was down 5.2% compared to the same quarter last year. During the same period last year, the firm earned $1.99 earnings per share. On average, analysts predict that Qorvo, Inc. will post 3.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Philip Chesley sold 4,045 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total value of $283,756.75. Following the sale, the senior vice president now directly owns 30,261 shares of the company’s stock, valued at $2,122,809.15. This represents a 11.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Susquehanna lowered their target price on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. UBS Group lowered their price objective on Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Bank of America cut their target price on Qorvo from $115.00 to $80.00 and set an “underperform” rating for the company in a research report on Wednesday, October 30th. Barclays decreased their target price on Qorvo from $120.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 30th. Finally, Benchmark downgraded Qorvo from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $102.88.

About Qorvo

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.