Qorvo, Inc. (NASDAQ:QRVO) Holdings Raised by Jackson Wealth Management LLC

Jackson Wealth Management LLC lifted its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 151.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,430 shares of the semiconductor company’s stock after purchasing an additional 10,511 shares during the quarter. Jackson Wealth Management LLC’s holdings in Qorvo were worth $1,801,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Bessemer Group Inc. increased its stake in shares of Qorvo by 1,361.9% during the 1st quarter. Bessemer Group Inc. now owns 13,596 shares of the semiconductor company’s stock worth $1,562,000 after purchasing an additional 12,666 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Qorvo by 44.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 13,247 shares of the semiconductor company’s stock worth $1,521,000 after purchasing an additional 4,072 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Qorvo by 23.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 370,200 shares of the semiconductor company’s stock worth $42,510,000 after purchasing an additional 71,200 shares during the last quarter. Leeward Investments LLC MA increased its stake in shares of Qorvo by 50.6% during the 1st quarter. Leeward Investments LLC MA now owns 154,346 shares of the semiconductor company’s stock worth $17,724,000 after purchasing an additional 51,850 shares during the last quarter. Finally, APG Asset Management N.V. increased its stake in shares of Qorvo by 21.9% during the 2nd quarter. APG Asset Management N.V. now owns 101,243 shares of the semiconductor company’s stock worth $10,962,000 after purchasing an additional 18,178 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Trading Down 0.8 %

NASDAQ QRVO traded down $0.80 during trading on Thursday, reaching $99.44. 178,752 shares of the stock traded hands, compared to its average volume of 1,340,839. The firm has a market cap of $9.43 billion, a price-to-earnings ratio of -345.66, a price-to-earnings-growth ratio of 1.26 and a beta of 1.45. The stock’s 50-day moving average price is $105.82 and its 200 day moving average price is $108.43. The company has a quick ratio of 1.36, a current ratio of 1.95 and a debt-to-equity ratio of 0.44. Qorvo, Inc. has a fifty-two week low of $80.62 and a fifty-two week high of $130.99.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.16. The firm had revenue of $886.70 million during the quarter, compared to analysts’ expectations of $851.95 million. Qorvo had a negative net margin of 0.66% and a positive return on equity of 14.92%. The business’s revenue for the quarter was up 36.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.03 earnings per share. Analysts predict that Qorvo, Inc. will post 4.84 EPS for the current year.

Insider Activity at Qorvo

In related news, VP Gina Harrison sold 689 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the completion of the transaction, the vice president now owns 21,601 shares in the company, valued at approximately $2,325,779.67. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on QRVO. Susquehanna lowered their target price on shares of Qorvo from $135.00 to $115.00 and set a “neutral” rating on the stock in a research note on Monday. Morgan Stanley lowered shares of Qorvo from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $130.00 to $120.00 in a research note on Friday, October 11th. Rosenblatt Securities raised their price objective on shares of Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Needham & Company LLC raised their price objective on shares of Qorvo from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Piper Sandler reissued a “neutral” rating and set a $120.00 price target (up from $105.00) on shares of Qorvo in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $121.29.

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.