Qorvo, Inc. (NASDAQ:QRVO) Shares Acquired by Lbp Am Sa

Lbp Am Sa boosted its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 172.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,417 shares of the semiconductor company’s stock after acquiring an additional 19,271 shares during the period. Lbp Am Sa’s holdings in Qorvo were worth $3,493,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of QRVO. Zhang Financial LLC boosted its stake in shares of Qorvo by 2.7% during the 4th quarter. Zhang Financial LLC now owns 3,852 shares of the semiconductor company’s stock valued at $434,000 after buying an additional 102 shares during the last quarter. Quadrature Capital Ltd grew its holdings in Qorvo by 0.4% during the 4th quarter. Quadrature Capital Ltd now owns 25,092 shares of the semiconductor company’s stock worth $2,825,000 after acquiring an additional 103 shares in the last quarter. Empirical Finance LLC increased its position in shares of Qorvo by 3.2% in the 1st quarter. Empirical Finance LLC now owns 3,768 shares of the semiconductor company’s stock worth $433,000 after purchasing an additional 117 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Qorvo by 12.9% in the 1st quarter. GAMMA Investing LLC now owns 1,040 shares of the semiconductor company’s stock valued at $119,000 after purchasing an additional 119 shares in the last quarter. Finally, William Blair Investment Management LLC grew its stake in Qorvo by 6.5% in the first quarter. William Blair Investment Management LLC now owns 2,239 shares of the semiconductor company’s stock worth $257,000 after purchasing an additional 136 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Qorvo

In other Qorvo news, CEO Robert A. Bruggeworth sold 15,279 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $100.00, for a total value of $1,527,900.00. Following the completion of the transaction, the chief executive officer now directly owns 190,161 shares in the company, valued at $19,016,100. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Robert A. Bruggeworth sold 15,279 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $100.00, for a total value of $1,527,900.00. Following the completion of the sale, the chief executive officer now owns 190,161 shares of the company’s stock, valued at $19,016,100. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert A. Bruggeworth sold 22,299 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 154,714 shares in the company, valued at $15,364,647.34. The disclosure for this sale can be found here. Insiders sold 45,372 shares of company stock worth $4,517,858 in the last quarter. 0.46% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on QRVO shares. Piper Sandler reaffirmed a “neutral” rating and set a $120.00 target price (up previously from $105.00) on shares of Qorvo in a report on Wednesday. Susquehanna decreased their price objective on shares of Qorvo from $145.00 to $135.00 and set a “neutral” rating for the company in a report on Wednesday. The Goldman Sachs Group increased 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. Barclays boosted their price objective on shares of Qorvo from $100.00 to $125.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Needham & Company LLC raised their target price on shares of Qorvo from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $120.83.

Qorvo Price Performance

Shares of NASDAQ:QRVO traded down $9.15 during trading hours on Thursday, hitting $110.65. 2,674,451 shares of the company’s stock traded hands, compared to its average volume of 1,373,371. The company’s fifty day simple moving average is $113.19 and its two-hundred day simple moving average is $110.68. The company has a market cap of $10.52 billion, a price-to-earnings ratio of -155.30, a price-to-earnings-growth ratio of 1.17 and a beta of 1.46. 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, Inc. has a 52 week low of $80.62 and a 52 week high of $130.99.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.16. The company had revenue of $886.70 million for the quarter, compared to analysts’ expectations of $851.95 million. Qorvo had a positive return on equity of 14.73% and a negative net margin of 0.66%. The firm’s revenue was up 36.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 earnings per share. As a group, equities analysts anticipate that Qorvo, Inc. will post 5.07 EPS for the current fiscal year.

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.