BDF Gestion Invests $1.56 Million in Qorvo, Inc. (NASDAQ:QRVO)

BDF Gestion acquired a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,405 shares of the semiconductor company’s stock, valued at approximately $1,556,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QRVO. Bessemer Group Inc. lifted its stake in shares of Qorvo by 1,361.9% in the 1st quarter. Bessemer Group Inc. now owns 13,596 shares of the semiconductor company’s stock worth $1,562,000 after purchasing an additional 12,666 shares during the period. FIL Ltd boosted its stake in shares of Qorvo by 4.5% during the 4th quarter. FIL Ltd now owns 2,778,629 shares of the semiconductor company’s stock worth $312,901,000 after acquiring an additional 120,213 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Qorvo by 44.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 13,247 shares of the semiconductor company’s stock valued at $1,521,000 after acquiring an additional 4,072 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Qorvo by 23.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 370,200 shares of the semiconductor company’s stock worth $42,510,000 after purchasing an additional 71,200 shares in the last quarter. Finally, Leeward Investments LLC MA raised its holdings in Qorvo by 50.6% in the 1st quarter. Leeward Investments LLC MA now owns 154,346 shares of the semiconductor company’s stock worth $17,724,000 after purchasing an additional 51,850 shares during the period. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Craig Hallum upped their price target on Qorvo from $124.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Barclays increased their target price on shares of Qorvo from $100.00 to $125.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. The Goldman Sachs Group lifted their price target on shares of Qorvo from $105.00 to $118.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Benchmark reduced their price objective on shares of Qorvo from $136.00 to $128.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Finally, StockNews.com downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $121.00.

Qorvo Stock Performance

Shares of Qorvo stock traded down $0.88 during trading on Friday, reaching $106.20. 854,451 shares of the stock traded hands, compared to its average volume of 1,654,440. The company has a current ratio of 1.95, a quick ratio of 1.36 and a debt-to-equity ratio of 0.44. Qorvo, Inc. has a 52-week low of $80.62 and a 52-week high of $130.99. The business has a fifty day simple moving average of $114.32 and a two-hundred day simple moving average of $110.75.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.16. The business had revenue of $886.70 million during the quarter, compared to analysts’ expectations of $851.95 million. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. The firm’s revenue for the quarter was up 36.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 EPS. On average, equities research analysts anticipate that Qorvo, Inc. will post 4.84 EPS for the current fiscal year.

Insider Buying and Selling

In other Qorvo news, SVP Paul J. Fego sold 2,132 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $99.31, for a total transaction of $211,728.92. Following the completion of the transaction, the senior vice president now owns 25,201 shares in the company, valued at $2,502,711.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Robert A. Bruggeworth sold 4,721 shares of Qorvo stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $100.00, for a total value of $472,100.00. Following the completion of the transaction, the chief executive officer now owns 205,440 shares in the company, valued at $20,544,000. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Paul J. Fego sold 2,132 shares of the company’s 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 $211,728.92. Following the sale, the senior vice president now owns 25,201 shares in the company, valued at $2,502,711.31. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,431 shares of company stock worth $4,426,243. Insiders own 0.46% of the company’s stock.

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.