Lombard Odier Asset Management Switzerland SA bought a new position in Qorvo Inc (NASDAQ:QRVO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 14,596 shares of the semiconductor company’s stock, valued at approximately $972,000.
Other large investors also recently added to or reduced their stakes in the company. F&V Capital Management LLC grew its stake in shares of Qorvo by 34.4% during the 4th quarter. F&V Capital Management LLC now owns 68,200 shares of the semiconductor company’s stock valued at $4,542,000 after purchasing an additional 17,460 shares during the period. Teacher Retirement System of Texas bought a new position in Qorvo in the 4th quarter worth approximately $2,328,000. LS Investment Advisors LLC boosted its stake in Qorvo by 28.9% in the 4th quarter. LS Investment Advisors LLC now owns 6,894 shares of the semiconductor company’s stock worth $459,000 after purchasing an additional 1,544 shares during the period. Clear Harbor Asset Management LLC raised its holdings in shares of Qorvo by 39.8% during the 4th quarter. Clear Harbor Asset Management LLC now owns 84,212 shares of the semiconductor company’s stock worth $5,609,000 after acquiring an additional 23,996 shares in the last quarter. Finally, Kalos Management Inc. purchased a new stake in Qorvo during the 3rd quarter valued at $525,000. Institutional investors and hedge funds own 97.58% of the company’s stock.
In related news, VP Steven E. Creviston sold 6,000 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $65.50, for a total value of $393,000.00. Following the transaction, the vice president now directly owns 88,725 shares of the company’s stock, valued at approximately $5,811,487.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel A. Dileo sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $83.97, for a total value of $209,925.00. Following the completion of the transaction, the director now directly owns 27,282 shares in the company, valued at $2,290,869.54. The disclosure for this sale can be found here. Insiders have sold 26,500 shares of company stock worth $1,915,645 in the last 90 days. Insiders own 0.91% of the company’s stock.
QRVO has been the topic of several recent research reports. Instinet upgraded Qorvo from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Thursday, February 1st. Needham & Company LLC increased their price target on Qorvo from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. set a $88.00 price target on Qorvo and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Drexel Hamilton reaffirmed a “buy” rating and set a $95.00 price objective on shares of Qorvo in a research report on Wednesday, January 31st. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $81.00 price target (down from $87.00) on shares of Qorvo in a research note on Wednesday, January 24th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the company. Qorvo has an average rating of “Hold” and a consensus target price of $81.47.
Shares of Qorvo Inc (NASDAQ QRVO) traded down $1.20 during mid-day trading on Wednesday, hitting $82.22. The stock had a trading volume of 1,390,000 shares, compared to its average volume of 2,490,000. The stock has a market cap of $10,400.00, a P/E ratio of 84.76, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. The company has a current ratio of 4.72, a quick ratio of 3.62 and a debt-to-equity ratio of 0.23. Qorvo Inc has a fifty-two week low of $62.68 and a fifty-two week high of $86.84.
Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.09. The business had revenue of $845.70 million for the quarter, compared to analysts’ expectations of $841.09 million. Qorvo had a return on equity of 11.72% and a net margin of 0.95%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.35 EPS. analysts expect that Qorvo Inc will post 4.49 earnings per share for the current year.
Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).
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