NorthCrest Asset Manangement LLC Buys 1,984 Shares of Qorvo, Inc. (NASDAQ:QRVO)

NorthCrest Asset Manangement LLC increased its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 3.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 61,061 shares of the semiconductor company’s stock after acquiring an additional 1,984 shares during the quarter. NorthCrest Asset Manangement LLC owned about 0.06% of Qorvo worth $6,308,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of QRVO. Pacer Advisors Inc. lifted its position in Qorvo by 17,255.9% during the second quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company’s stock valued at $165,590,000 after purchasing an additional 1,418,784 shares during the last quarter. Vulcan Value Partners LLC lifted its position in Qorvo by 35.0% during the second quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company’s stock valued at $246,665,000 after purchasing an additional 550,111 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Qorvo by 1,507.7% during the second quarter. Thrivent Financial for Lutherans now owns 347,715 shares of the semiconductor company’s stock valued at $40,349,000 after purchasing an additional 326,087 shares during the last quarter. Caxton Associates LP bought a new position in Qorvo during the second quarter valued at $34,812,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Qorvo by 177.4% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 426,678 shares of the semiconductor company’s stock valued at $48,995,000 after purchasing an additional 272,872 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. TD Cowen upgraded shares of Qorvo to a “hold” rating in a research report on Monday, September 16th. Piper Sandler lowered their target price on shares of Qorvo from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Friday. The Goldman Sachs Group raised their target price on shares of Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Barclays lowered their target price on shares of Qorvo from $125.00 to $120.00 and set an “equal weight” rating for the company in a report on Thursday, October 10th. Finally, Raymond James raised their target price on shares of Qorvo from $115.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Qorvo has an average rating of “Hold” and an average price target of $119.86.

Qorvo Trading Down 0.5 %

NASDAQ QRVO opened at $99.01 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.36 and a current ratio of 1.95. The company has a market capitalization of $9.41 billion, a price-to-earnings ratio of -135.63, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45. The company’s 50-day simple moving average is $105.32 and its two-hundred day simple moving average is $108.20. Qorvo, Inc. has a one year low of $80.62 and a one year high of $130.99.

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

Insider Activity

In other news, VP Gina Harrison sold 689 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $107.67, for a total value of $74,184.63. Following the sale, the vice president now directly owns 21,601 shares in the company, valued at approximately $2,325,779.67. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.46% of the company’s stock.

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.