Federated Investors Inc. PA boosted its holdings in Qorvo Inc (NASDAQ:QRVO) by 266.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,011 shares of the semiconductor company’s stock after acquiring an additional 5,099 shares during the period. Federated Investors Inc. PA’s holdings in Qorvo were worth $562,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Qorvo by 3.6% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,377 shares of the semiconductor company’s stock worth $1,393,000 after acquiring an additional 596 shares during the last quarter. Blackhawk Capital Partners LLC. raised its holdings in shares of Qorvo by 23.9% during the first quarter. Blackhawk Capital Partners LLC. now owns 3,390 shares of the semiconductor company’s stock valued at $239,000 after buying an additional 655 shares during the last quarter. Suntrust Banks Inc. raised its holdings in shares of Qorvo by 3.6% during the first quarter. Suntrust Banks Inc. now owns 19,596 shares of the semiconductor company’s stock valued at $1,379,000 after buying an additional 686 shares during the last quarter. Paradigm Capital Management Inc. NY raised its holdings in shares of Qorvo by 0.8% during the second quarter. Paradigm Capital Management Inc. NY now owns 90,380 shares of the semiconductor company’s stock valued at $7,246,000 after buying an additional 700 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Qorvo by 3.8% during the first quarter. Nomura Asset Management Co. Ltd. now owns 19,072 shares of the semiconductor company’s stock valued at $1,343,000 after buying an additional 703 shares during the last quarter. 94.08% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP Steven E. Creviston sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 10th. The shares were sold at an average price of $82.30, for a total transaction of $246,900.00. Following the transaction, the vice president now owns 76,646 shares in the company, valued at $6,307,965.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert A. Bruggeworth sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $73.98, for a total transaction of $369,900.00. Following the transaction, the insider now owns 185,172 shares in the company, valued at approximately $13,699,024.56. The disclosure for this sale can be found here. Insiders have sold 40,609 shares of company stock worth $3,303,993 in the last quarter. Company insiders own 0.85% of the company’s stock.

NASDAQ QRVO opened at $78.45 on Tuesday. Qorvo Inc has a 12 month low of $64.53 and a 12 month high of $86.84. The company has a current ratio of 3.39, a quick ratio of 2.15 and a debt-to-equity ratio of 0.12. The company has a market cap of $9.88 billion, a P/E ratio of 16.44, a P/E/G ratio of 1.21 and a beta of 0.96.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Wednesday, August 1st. The semiconductor company reported $0.96 EPS for the quarter, beating the Zacks’ 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 for the quarter, compared to analyst estimates of $656.97 million. During the same quarter last year, the business earned $0.87 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. sell-side analysts predict that Qorvo Inc will post 5.46 EPS for the current fiscal year.

A number of research firms have recently weighed in on QRVO. Cowen lifted their price target on Qorvo from $75.00 to $80.00 and gave the company a “market perform” rating in a report on Monday, June 25th. BidaskClub raised Qorvo from a “sell” rating to a “hold” rating in a report on Friday. Loop Capital began coverage on Qorvo in a report on Thursday, June 21st. They set a “buy” rating and a $95.00 price target on the stock. ValuEngine raised Qorvo from a “hold” rating to a “buy” rating in a report on Tuesday, June 26th. Finally, Benchmark began coverage on Qorvo in a report on Friday, June 15th. They set a “buy” rating and a $95.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $84.48.

About Qorvo

Qorvo, Inc engages in the provision of core technologies and radio frequency solutions for mobile, infrastructure, and aerospace or defense applications. It operates through the following segments: Mobile Products and Infrastructure & Defense Products. The Mobile Products segment supplies of RF solutions that perform various functions in the increasingly complex cellular radio front end section of smartphones and other cellular devices.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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