Quadrature Capital Ltd Increases Stake in Qorvo, Inc. (NASDAQ:QRVO)

Quadrature Capital Ltd increased its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,092 shares of the semiconductor company’s stock after buying an additional 103 shares during the period. Quadrature Capital Ltd’s holdings in Qorvo were worth $2,825,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Huntington National Bank increased its stake in shares of Qorvo by 8,090.0% during the third quarter. Huntington National Bank now owns 819 shares of the semiconductor company’s stock valued at $78,000 after buying an additional 809 shares during the period. GAMMA Investing LLC purchased a new position in Qorvo in the fourth quarter valued at about $104,000. Quadrant Capital Group LLC grew its stake in Qorvo by 18.7% in the fourth quarter. Quadrant Capital Group LLC now owns 951 shares of the semiconductor company’s stock valued at $107,000 after purchasing an additional 150 shares during the last quarter. Wahed Invest LLC grew its stake in Qorvo by 7.5% in the third quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company’s stock valued at $147,000 after purchasing an additional 108 shares during the last quarter. Finally, Bleakley Financial Group LLC purchased a new position in Qorvo in the fourth quarter valued at about $204,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Insider Buying and Selling

In related news, Director John R. Harding sold 941 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $97.36, for a total transaction of $91,615.76. Following the completion of the sale, the director now directly owns 6,950 shares in the company, valued at $676,652. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Paul J. Fego sold 2,132 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total transaction of $211,728.92. Following the transaction, the senior vice president now owns 25,201 shares of the company’s stock, valued at approximately $2,502,711.31. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John R. Harding sold 941 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $97.36, for a total value of $91,615.76. Following the transaction, the director now directly owns 6,950 shares in the company, valued at approximately $676,652. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,372 shares of company stock worth $4,517,858. 0.43% of the stock is owned by corporate insiders.

Qorvo Stock Performance

NASDAQ:QRVO traded down $0.49 during trading hours on Friday, reaching $99.49. The company had a trading volume of 804,791 shares, compared to its average volume of 1,037,039. The firm has a market cap of $9.51 billion, a PE ratio of -136.29, a price-to-earnings-growth ratio of 0.96 and a beta of 1.44. Qorvo, Inc. has a 1-year low of $80.62 and a 1-year high of $121.65. The business’s 50 day moving average price is $104.75 and its 200-day moving average price is $107.15. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.99 and a quick ratio of 1.41.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.21 by $0.18. Qorvo had a positive return on equity of 13.43% and a negative net margin of 1.86%. The firm had revenue of $941.00 million during the quarter, compared to analysts’ expectations of $927.24 million. During the same period in the previous year, the business earned $0.11 earnings per share. The firm’s revenue for the quarter was up 48.7% on a year-over-year basis. Research analysts forecast that Qorvo, Inc. will post 5.16 EPS for the current year.

Wall Street Analyst Weigh In

QRVO has been the topic of several analyst reports. Needham & Company LLC cut their target price on Qorvo from $125.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. dropped their price target on Qorvo from $105.00 to $100.00 and set an “underweight” rating on the stock in a research note on Thursday, May 2nd. StockNews.com lowered Qorvo from a “buy” rating to a “hold” rating in a research note on Friday. The Goldman Sachs Group dropped their price target on Qorvo from $117.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Finally, Susquehanna dropped their price target on Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $110.83.

Qorvo Company Profile

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.