Aperio Group LLC lifted its stake in Qorvo Inc (NASDAQ:QRVO) by 11.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,430 shares of the semiconductor company’s stock after buying an additional 3,495 shares during the period. Aperio Group LLC’s holdings in Qorvo were worth $2,680,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of Qorvo by 1.6% in the first quarter. BlackRock Inc. now owns 8,740,166 shares of the semiconductor company’s stock valued at $615,745,000 after buying an additional 138,378 shares during the period. Manning & Napier Group LLC boosted its stake in shares of Qorvo by 29.7% in the first quarter. Manning & Napier Group LLC now owns 4,054,232 shares of the semiconductor company’s stock valued at $285,619,000 after buying an additional 927,978 shares during the period. Boston Partners boosted its stake in shares of Qorvo by 0.9% in the first quarter. Boston Partners now owns 2,894,223 shares of the semiconductor company’s stock valued at $203,898,000 after buying an additional 25,013 shares during the period. Iridian Asset Management LLC CT bought a new stake in shares of Qorvo in the first quarter valued at approximately $87,009,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Qorvo by 75.8% in the first quarter. JPMorgan Chase & Co. now owns 923,964 shares of the semiconductor company’s stock valued at $65,093,000 after buying an additional 398,463 shares during the period. Institutional investors and hedge funds own 98.77% of the company’s stock.

Several equities research analysts recently issued reports on the company. ValuEngine cut Qorvo from a “buy” rating to a “hold” rating in a research note on Saturday. Mizuho reiterated a “hold” rating and issued a $74.00 price target on shares of Qorvo in a research note on Thursday, May 3rd. Barclays boosted their price target on Qorvo from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, June 18th. Loop Capital assumed coverage on Qorvo in a research note on Thursday, June 21st. They issued a “buy” rating and a $95.00 price target for the company. Finally, Summit Insights upgraded Qorvo from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have issued a buy rating to the stock. Qorvo has a consensus rating of “Hold” and an average price target of $84.48.

Shares of QRVO opened at $81.50 on Friday. Qorvo Inc has a one year low of $64.53 and a one year high of $86.84. The company has a market cap of $10.45 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 1.28 and a beta of 0.99. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.39 and a quick ratio of 2.15.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Wednesday, August 1st. The semiconductor company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.76 by $0.20. Qorvo had a negative net margin of 1.31% and a positive return on equity of 12.85%. The business had revenue of $692.70 million during the quarter, compared to the consensus estimate of $656.97 million. During the same period in the previous year, the business earned $0.87 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. sell-side analysts anticipate that Qorvo Inc will post 5.46 earnings per share for the current fiscal year.

In other news, CEO Robert A. Bruggeworth sold 3,086 shares of the company’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $82.09, for a total transaction of $253,329.74. Following the completion of the transaction, the chief executive officer now directly owns 193,258 shares in the company, valued at $15,864,549.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James L. Klein sold 2,094 shares of the company’s stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $79.75, for a total transaction of $166,996.50. Following the transaction, the vice president now owns 51,836 shares of the company’s stock, valued at $4,133,921. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,850 shares of company stock valued at $3,545,223. Company insiders own 0.85% of the company’s stock.

Qorvo Profile

Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.

Further Reading: Stock Symbols, CUSIP and Other Stock Identifiers

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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