Stanley Laman Group Ltd. purchased a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 45,368 shares of the semiconductor company’s stock, valued at approximately $7,543,000. Qorvo makes up about 1.3% of Stanley Laman Group Ltd.’s investment portfolio, making the stock its 19th biggest position.
Several other institutional investors have also added to or reduced their stakes in QRVO. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Qorvo by 46.6% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 87,061 shares of the semiconductor company’s stock valued at $6,244,000 after purchasing an additional 27,692 shares in the last quarter. Avantax Advisory Services Inc. bought a new position in shares of Qorvo during the 3rd quarter valued at $213,000. Louisiana State Employees Retirement System raised its holdings in shares of Qorvo by 18.4% during the 3rd quarter. Louisiana State Employees Retirement System now owns 5,800 shares of the semiconductor company’s stock valued at $748,000 after purchasing an additional 900 shares in the last quarter. CWM LLC raised its holdings in shares of Qorvo by 35.1% during the 3rd quarter. CWM LLC now owns 373 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 97 shares in the last quarter. Finally, NEXT Financial Group Inc bought a new position in Qorvo in the 3rd quarter worth $243,000. Institutional investors and hedge funds own 84.57% of the company’s stock.
QRVO has been the topic of several recent analyst reports. Barclays lifted their target price on shares of Qorvo from $160.00 to $185.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 26th. They noted that the move was a valuation call. Rosenblatt Securities initiated coverage on shares of Qorvo in a report on Tuesday, December 8th. They issued a “neutral” rating and a $175.00 target price on the stock. The Goldman Sachs Group lifted their target price on shares of Qorvo from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, December 14th. UBS Group lifted their target price on shares of Qorvo from $125.00 to $133.00 and gave the stock a “neutral” rating in a report on Thursday, November 5th. Finally, Mizuho lifted their target price on shares of Qorvo from $180.00 to $183.00 and gave the stock a “buy” rating in a report on Thursday, February 4th. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $177.41.
Shares of Qorvo stock traded down $2.90 during trading on Tuesday, hitting $169.38. 29,717 shares of the company’s stock traded hands, compared to its average volume of 1,519,766. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 1.75. The firm’s fifty day moving average price is $176.01 and its 200 day moving average price is $149.24. Qorvo, Inc. has a twelve month low of $67.54 and a twelve month high of $191.82. The company has a market cap of $19.18 billion, a PE ratio of 45.34, a PEG ratio of 1.47 and a beta of 1.51.
Qorvo (NASDAQ:QRVO) last issued its earnings results on Wednesday, February 3rd. The semiconductor company reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.60. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. Qorvo had a net margin of 12.71% and a return on equity of 18.08%. The firm’s revenue was up 26.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.86 EPS. As a group, equities research analysts anticipate that Qorvo, Inc. will post 7.79 earnings per share for the current year.
Qorvo, Inc develops and commercializes technologies and products for wireless and wired connectivity worldwide. The company operates in two segments, Mobile Products, and Infrastructure and Defense Products. The company offers integrated modules incorporating switches, power amplifiers, filters and duplexers, antenna tuners, RF power management integrated circuits, multimode/multi-band PAs and transmit modules, antenna-plexers, discrete filters and duplexers, discrete switches, and UWB system solutions, as well as envelope tracking power management solutions, antenna control solutions, and UWB system solutions supporting secure, low power, location, and communication services.
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