Qorvo, Inc. (NASDAQ:QRVO) Shares Bought by DNB Asset Management AS

DNB Asset Management AS lifted its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 17.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,145 shares of the semiconductor company’s stock after purchasing an additional 2,445 shares during the period. DNB Asset Management AS’s holdings in Qorvo were worth $1,873,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in QRVO. Park Place Capital Corp boosted its position in Qorvo by 398.1% in the 1st quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 207 shares during the last quarter. 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 valued at $30,000 after purchasing an additional 115 shares in the last quarter. Riverview Trust Co acquired a new stake in Qorvo during the 1st quarter valued at approximately $40,000. Fidelis Capital Partners LLC purchased a new stake in Qorvo during the 1st quarter worth approximately $58,000. Finally, GAMMA Investing LLC acquired a new position in shares of Qorvo in the 4th quarter valued at approximately $104,000. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Qorvo Price Performance

Shares of QRVO opened at $105.30 on Wednesday. Qorvo, Inc. has a one year low of $80.62 and a one year high of $130.99. The stock’s fifty day moving average is $113.88 and its 200-day moving average is $110.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.41 and a current ratio of 1.95. The firm has a market capitalization of $9.99 billion, a price-to-earnings ratio of -141.12, a price-to-earnings-growth ratio of 1.26 and a beta of 1.46.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.71 by $0.16. The firm had revenue of $886.70 million for 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%. Qorvo’s quarterly revenue was up 36.2% on a year-over-year basis. During the same quarter last year, the company earned $0.03 EPS. Equities analysts anticipate that Qorvo, Inc. will post 4.84 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Robert A. Bruggeworth sold 15,279 shares of the business’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 sale, the chief executive officer now owns 190,161 shares of the company’s stock, valued at approximately $19,016,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Paul J. Fego sold 2,132 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total transaction of $211,728.92. Following the completion of the sale, the senior vice president now owns 25,201 shares in the company, valued at approximately $2,502,711.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert A. Bruggeworth sold 15,279 shares of Qorvo 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 transaction, the chief executive officer now owns 190,161 shares in the company, valued at $19,016,100. The disclosure for this sale can be found here. Insiders sold 44,431 shares of company stock worth $4,426,243 over the last ninety days. Company insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Barclays lifted their target price on Qorvo from $100.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. raised their price objective on Qorvo from $100.00 to $115.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 31st. Susquehanna lowered their target price on shares of Qorvo from $145.00 to $135.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Finally, Mizuho decreased their price target on shares of Qorvo from $115.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $121.00.

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.