Clal Insurance Enterprises Holdings Ltd Buys New Stake in Qorvo, Inc. (NASDAQ:QRVO)

Clal Insurance Enterprises Holdings Ltd purchased a new stake in Qorvo, Inc. (NASDAQ:QRVO) in the third quarter, HoldingsChannel reports. The institutional investor purchased 220,000 shares of the semiconductor company’s stock, valued at approximately $22,726,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of QRVO. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Qorvo during the second quarter worth about $29,000. EverSource Wealth Advisors LLC grew its stake in Qorvo by 81.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after buying an additional 115 shares during the last quarter. Versant Capital Management Inc increased its position in Qorvo by 9,333.3% during the second quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock worth $33,000 after buying an additional 280 shares during the period. New Millennium Group LLC purchased a new stake in Qorvo in the second quarter valued at approximately $34,000. Finally, Blue Trust Inc. lifted its stake in Qorvo by 241.6% in the second quarter. Blue Trust Inc. now owns 345 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 244 shares during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Qorvo

In related news, VP Gina Harrison sold 689 shares of the 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 of the company’s stock, valued at approximately $2,325,779.67. This represents a 3.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on QRVO. Loop Capital initiated coverage on shares of Qorvo in a research report on Monday, November 11th. They set a “hold” rating and a $73.00 target price on the stock. Craig Hallum lowered their price objective on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Barclays reduced their target price on shares of Qorvo from $120.00 to $90.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th. Raymond James downgraded shares of Qorvo from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Finally, Benchmark cut Qorvo from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $102.88.

Qorvo Stock Up 2.0 %

Shares of NASDAQ QRVO opened at $69.25 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90. Qorvo, Inc. has a one year low of $64.98 and a one year high of $130.99. The company’s fifty day moving average is $90.84 and its two-hundred day moving average is $103.23.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.03. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business posted $1.99 earnings per share. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, equities analysts forecast that Qorvo, Inc. will post 3.37 EPS for the current year.

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.