PGGM Investments Has $761,000 Position in Qorvo, Inc. (NASDAQ:QRVO)

PGGM Investments increased its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 8.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,628 shares of the semiconductor company’s stock after purchasing an additional 520 shares during the quarter. PGGM Investments’ holdings in Qorvo were worth $761,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Virtu Financial LLC acquired a new stake in shares of Qorvo in the 1st quarter valued at about $575,000. Wahed Invest LLC lifted its stake in Qorvo by 15.7% in the 1st quarter. Wahed Invest LLC now owns 1,765 shares of the semiconductor company’s stock valued at $203,000 after acquiring an additional 240 shares in the last quarter. Plato Investment Management Ltd lifted its stake in Qorvo by 3,653.0% in the 1st quarter. Plato Investment Management Ltd now owns 9,345 shares of the semiconductor company’s stock valued at $1,073,000 after acquiring an additional 9,096 shares in the last quarter. Garner Asset Management Corp acquired a new position in Qorvo during the 1st quarter worth approximately $524,000. Finally, LBP AM SA grew its stake in shares of Qorvo by 172.9% during the 1st quarter. LBP AM SA now owns 30,417 shares of the semiconductor company’s stock worth $3,493,000 after acquiring an additional 19,271 shares in the last quarter. 88.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on QRVO. Rosenblatt Securities boosted their price objective on shares of Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday. Raymond James increased their price objective on shares of Qorvo from $115.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday. StockNews.com downgraded Qorvo from a “buy” rating to a “hold” rating in a research report on Thursday. TD Cowen upped their target price on Qorvo from $110.00 to $125.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Susquehanna decreased their price target on Qorvo from $145.00 to $135.00 and set a “neutral” rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $121.00.

Qorvo Stock Performance

NASDAQ QRVO opened at $107.93 on Friday. The stock has a market cap of $10.24 billion, a PE ratio of -147.85, a P/E/G ratio of 1.29 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 1.95. The firm has a 50-day moving average of $113.66 and a 200-day moving average of $110.79. Qorvo, Inc. has a 52-week low of $80.62 and a 52-week high of $130.99.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.16. Qorvo had a negative net margin of 0.66% and a positive return on equity of 14.92%. The firm had revenue of $886.70 million during the quarter, compared to the consensus estimate of $851.95 million. During the same period last year, the business posted $0.03 earnings per share. The business’s revenue for the quarter was up 36.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Qorvo, Inc. will post 5.02 EPS for the current year.

Insider Activity at Qorvo

In related news, CEO Robert A. Bruggeworth sold 22,299 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Robert A. Bruggeworth sold 22,299 shares of Qorvo stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 154,714 shares in the company, valued at $15,364,647.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John R. Harding sold 941 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $97.36, for a total value of $91,615.76. Following the sale, the director now directly owns 6,950 shares in the company, valued at approximately $676,652. The disclosure for this sale can be found here. Insiders sold 45,372 shares of company stock worth $4,517,858 in the last ninety days. 0.46% of the stock is owned by company insiders.

Qorvo 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.