F&V Capital Management LLC lifted its holdings in Qorvo, Inc. (NASDAQ:QRVO – Get Rating) by 5.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 88,848 shares of the semiconductor company’s stock after acquiring an additional 4,630 shares during the quarter. Qorvo accounts for 3.0% of F&V Capital Management LLC’s holdings, making the stock its 16th biggest position. F&V Capital Management LLC owned approximately 0.09% of Qorvo worth $9,024,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in QRVO. HB Wealth Management LLC acquired a new stake in Qorvo during the first quarter valued at $224,000. National Bank of Canada FI grew its position in Qorvo by 47.6% during the first quarter. National Bank of Canada FI now owns 8,122 shares of the semiconductor company’s stock valued at $825,000 after buying an additional 2,620 shares during the period. Vontobel Holding Ltd. grew its position in Qorvo by 42.6% during the first quarter. Vontobel Holding Ltd. now owns 6,124 shares of the semiconductor company’s stock valued at $622,000 after buying an additional 1,828 shares during the period. Flagship Harbor Advisors LLC grew its position in Qorvo by 54.0% during the first quarter. Flagship Harbor Advisors LLC now owns 7,567 shares of the semiconductor company’s stock valued at $769,000 after buying an additional 2,652 shares during the period. Finally, Empowered Funds LLC acquired a new stake in Qorvo during the first quarter valued at $247,000. Institutional investors and hedge funds own 87.18% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the stock. Summit Insights upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a research report on Thursday, May 4th. BMO Capital Markets increased their price objective on shares of Qorvo from $105.00 to $110.00 in a report on Thursday, May 4th. Raymond James assumed coverage on shares of Qorvo in a report on Wednesday, March 1st. They set an “outperform” rating and a $120.00 price objective on the stock. Needham & Company LLC increased their price objective on shares of Qorvo from $130.00 to $140.00 in a report on Thursday, May 4th. Finally, StockNews.com assumed coverage on shares of Qorvo in a report on Thursday, May 18th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Qorvo presently has an average rating of “Hold” and an average price target of $108.78.
Insider Buying and Selling at Qorvo
In other news, CEO Robert A. Bruggeworth sold 17,063 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $90.73, for a total transaction of $1,548,125.99. Following the transaction, the chief executive officer now directly owns 190,024 shares of the company’s stock, valued at approximately $17,240,877.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Robert A. Bruggeworth sold 17,063 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $90.73, for a total value of $1,548,125.99. Following the sale, the chief executive officer now directly owns 190,024 shares of the company’s stock, valued at approximately $17,240,877.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Paul J. Fego sold 4,304 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $95.00, for a total transaction of $408,880.00. Following the completion of the sale, the senior vice president now directly owns 33,070 shares in the company, valued at $3,141,650. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,585 shares of company stock valued at $3,309,703. 0.45% of the stock is owned by company insiders.
Qorvo Stock Up 2.0 %
Qorvo stock traded up $1.92 during trading on Monday, reaching $99.24. The stock had a trading volume of 47,985 shares, compared to its average volume of 1,283,350. The business has a 50 day moving average price of $95.81 and a 200 day moving average price of $98.06. Qorvo, Inc. has a 52-week low of $75.38 and a 52-week high of $114.59. The stock has a market cap of $9.80 billion, a PE ratio of 105.78, a P/E/G ratio of 3.86 and a beta of 1.43. The company has a quick ratio of 2.22, a current ratio of 3.65 and a debt-to-equity ratio of 0.52.
Qorvo (NASDAQ:QRVO – Get Rating) last announced its quarterly earnings data on Wednesday, May 3rd. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.13. The company had revenue of $632.70 million for the quarter, compared to analysts’ expectations of $621.35 million. Qorvo had a net margin of 2.89% and a return on equity of 12.53%. Qorvo’s revenue was down 45.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.03 EPS. On average, analysts predict that Qorvo, Inc. will post 3.89 EPS for the current year.
Qorvo Profile
Qorvo, Inc supplies semiconductor solutions for consumer electronics, smart home/IoT, automotive, EVs, battery-powered appliances, network infrastructure, healthcare, and aerospace/defense markets in the United States, China, other Asian countries, Taiwan, and Europe. The company combines product and technology leadership, systems-level expertise, and global manufacturing scale to solve its customers’ technical challenges.