3,884 Shares in Qorvo, Inc. (NASDAQ:QRVO) Acquired by Qsemble Capital Management LP

Qsemble Capital Management LP bought a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 3,884 shares of the semiconductor company’s stock, valued at approximately $401,000.

Several other hedge funds have also added to or reduced their stakes in the business. Bank of Montreal Can boosted its position in Qorvo by 36.5% during the 3rd quarter. Bank of Montreal Can now owns 124,514 shares of the semiconductor company’s stock worth $12,900,000 after buying an additional 33,281 shares during the period. Truvestments Capital LLC boosted its position in Qorvo by 12.7% during the 3rd quarter. Truvestments Capital LLC now owns 2,583 shares of the semiconductor company’s stock worth $267,000 after buying an additional 292 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Qorvo during the 3rd quarter worth approximately $2,507,000. Fisher Asset Management LLC boosted its position in Qorvo by 1.1% during the 3rd quarter. Fisher Asset Management LLC now owns 529,746 shares of the semiconductor company’s stock worth $54,723,000 after buying an additional 6,013 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in Qorvo by 51.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 19,442 shares of the semiconductor company’s stock worth $2,008,000 after buying an additional 6,644 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Qorvo

In other news, VP Gina Harrison sold 689 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $107.67, for a total value of $74,184.63. Following the completion of the sale, the vice president now owns 21,601 shares in the company, valued at $2,325,779.67. This represents a 3.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by company insiders.

Qorvo Stock Performance

Shares of QRVO stock opened at $68.40 on Thursday. The firm has a market capitalization of $6.47 billion, a PE ratio of -46.68, a price-to-earnings-growth ratio of 5.59 and a beta of 1.49. The firm has a fifty day simple moving average of $88.82 and a two-hundred day simple moving average of $102.74. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. Qorvo, Inc. has a 12 month low of $64.98 and a 12 month high of $130.99.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. Qorvo’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.99 EPS. Analysts forecast that Qorvo, Inc. will post 3.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. BNP Paribas downgraded shares of 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. The Goldman Sachs Group boosted their price target on shares of Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. dropped their price target on shares of Qorvo from $115.00 to $95.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Rosenblatt Securities boosted their price target on shares of Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Benchmark downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Qorvo currently has an average rating of “Hold” and a consensus price target of $102.88.

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.