Qorvo Inc (QRVO) Holdings Raised by Penserra Capital Management LLC

Penserra Capital Management LLC raised its holdings in shares of Qorvo Inc (NASDAQ:QRVO) by 45.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,660 shares of the semiconductor company’s stock after acquiring an additional 831 shares during the quarter. Penserra Capital Management LLC’s holdings in Qorvo were worth $177,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Qorvo by 79.9% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,252 shares of the semiconductor company’s stock valued at $159,000 after acquiring an additional 1,000 shares during the period. Advisor Group Inc. grew its position in shares of Qorvo by 5.1% during the second quarter. Advisor Group Inc. now owns 2,584 shares of the semiconductor company’s stock valued at $164,000 after purchasing an additional 126 shares in the last quarter. Achmea Investment Management B.V. purchased a new position in shares of Qorvo during the second quarter valued at about $188,000. Zeke Capital Advisors LLC purchased a new position in shares of Qorvo during the third quarter valued at about $206,000. Finally, Cetera Advisor Networks LLC purchased a new position in shares of Qorvo during the third quarter valued at about $219,000. 98.19% of the stock is currently owned by institutional investors and hedge funds.

In other Qorvo news, insider Robert A. Bruggeworth sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $65.57, for a total transaction of $327,850.00. Following the completion of the transaction, the insider now owns 185,344 shares in the company, valued at $12,153,006.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Steven E. Creviston sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $71.37, for a total value of $428,220.00. Following the transaction, the vice president now owns 82,725 shares of the company’s stock, valued at approximately $5,904,083.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,496 shares of company stock valued at $2,919,579. 0.91% of the stock is currently owned by company insiders.

A number of research analysts have recently weighed in on the company. BidaskClub upgraded Qorvo from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. Summit Redstone lowered Qorvo from a “hold” rating to a “sell” rating in a research report on Thursday, February 1st. Canaccord Genuity raised their price objective on Qorvo from $81.00 to $89.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Oppenheimer restated a “hold” rating on shares of Qorvo in a research report on Thursday, February 1st. Finally, BMO Capital Markets raised their price objective on Qorvo from $63.00 to $70.00 and gave the company a “market perform” rating in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $80.42.

Qorvo Inc (NASDAQ:QRVO) opened at $78.82 on Thursday. The company has a market capitalization of $10,037.27, a PE ratio of 18.20, a P/E/G ratio of 1.39 and a beta of 1.05. Qorvo Inc has a 12-month low of $62.68 and a 12-month high of $85.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.72 and a quick ratio of 3.62.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $1.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.60 by $0.09. The company had revenue of $845.70 million during the quarter, compared to analyst estimates of $841.09 million. Qorvo had a return on equity of 11.72% and a net margin of 0.95%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $1.35 earnings per share. analysts expect that Qorvo Inc will post 4.49 EPS for the current year.

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Qorvo Profile

Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).

Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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