Baader Bank Aktiengesellschaft Buys Shares of 3,036 Qorvo, Inc. (NASDAQ:QRVO)

Baader Bank Aktiengesellschaft purchased a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,036 shares of the semiconductor company’s stock, valued at approximately $212,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in QRVO. Public Sector Pension Investment Board increased its position in shares of Qorvo by 65.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 3,645 shares of the semiconductor company’s stock worth $423,000 after purchasing an additional 1,443 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Qorvo by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 76,858 shares of the semiconductor company’s stock valued at $8,919,000 after buying an additional 308 shares during the last quarter. Algert Global LLC raised its stake in Qorvo by 17.3% during the second quarter. Algert Global LLC now owns 2,300 shares of the semiconductor company’s stock valued at $267,000 after buying an additional 340 shares in the last quarter. Creative Planning lifted its holdings in Qorvo by 27.1% during the 2nd quarter. Creative Planning now owns 9,751 shares of the semiconductor company’s stock worth $1,131,000 after buying an additional 2,079 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of Qorvo in the 2nd quarter worth approximately $535,000. Institutional investors own 88.57% of the company’s stock.

Qorvo Trading Down 0.9 %

Shares of NASDAQ:QRVO opened at $82.98 on Friday. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. The firm has a market cap of $7.84 billion, a P/E ratio of 296.36, a P/E/G ratio of 6.89 and a beta of 1.40. The company has a 50 day moving average of $74.01 and a 200-day moving average of $91.48.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. Qorvo had a return on equity of 12.32% and a net margin of 0.71%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company posted $1.99 EPS. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. As a group, analysts anticipate that Qorvo, Inc. will post 3.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. BNP Paribas lowered Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price target on the stock. in a research report on Wednesday, October 30th. Craig Hallum reduced their price target on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Morgan Stanley raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $90.00 to $106.00 in a research report on Tuesday, January 21st. Citigroup decreased their target price on Qorvo from $72.00 to $69.00 and set a “sell” rating for the company in a research note on Wednesday. Finally, Piper Sandler upgraded Qorvo from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $85.00 to $110.00 in a research report on Monday, January 27th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $95.84.

Insider Activity

In related news, SVP Philip Chesley sold 4,045 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total transaction of $283,756.75. Following the completion of the sale, the senior vice president now directly owns 30,261 shares of the company’s stock, valued at $2,122,809.15. This represents a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.46% of the company’s stock.

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.