V Wealth Advisors LLC decreased its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 2.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,817 shares of the semiconductor company’s stock after selling 262 shares during the quarter. V Wealth Advisors LLC’s holdings in Qorvo were worth $1,611,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in QRVO. BlackRock Inc. boosted its position in Qorvo by 0.5% during the 4th quarter. BlackRock Inc. now owns 9,063,771 shares of the semiconductor company’s stock valued at $1,507,035,000 after acquiring an additional 44,929 shares in the last quarter. Baupost Group LLC MA raised its stake in Qorvo by 49.9% during the fourth quarter. Baupost Group LLC MA now owns 4,440,095 shares of the semiconductor company’s stock worth $738,255,000 after purchasing an additional 1,477,209 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of Qorvo by 10.9% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,387,366 shares of the semiconductor company’s stock valued at $230,677,000 after acquiring an additional 136,634 shares during the period. Norges Bank purchased a new stake in Qorvo during the 4th quarter worth $223,801,000. Finally, Select Equity Group L.P. grew its holdings in Qorvo by 132.3% during the 4th quarter. Select Equity Group L.P. now owns 629,283 shares of the semiconductor company’s stock worth $104,631,000 after acquiring an additional 358,447 shares in the last quarter. 84.57% of the stock is currently owned by hedge funds and other institutional investors.
QRVO has been the topic of several analyst reports. Needham & Company LLC lifted their target price on shares of Qorvo from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, February 4th. Craig Hallum increased their price target on shares of Qorvo from $160.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, February 4th. Citigroup decreased their price target on shares of Qorvo from $188.00 to $170.00 and set a “neutral” rating for the company in a research note on Thursday, February 11th. Benchmark raised their price target on Qorvo from $185.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, February 4th. Finally, BMO Capital Markets boosted their price target on Qorvo from $135.00 to $190.00 and gave the company a “market perform” rating in a research note on Wednesday, February 3rd. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $182.62.
Qorvo (NASDAQ:QRVO) last issued its earnings results on Wednesday, February 3rd. The semiconductor company reported $3.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.48 by $0.60. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. Qorvo had a net margin of 12.71% and a return on equity of 18.08%. Qorvo’s revenue was up 26.0% on a year-over-year basis. During the same period last year, the business posted $1.86 EPS. On average, equities research analysts expect that Qorvo, Inc. will post 7.79 earnings per share for the current fiscal year.
Qorvo Company Profile
Qorvo, Inc develops and commercializes technologies and products for wireless and wired connectivity worldwide. The company operates in two segments, Mobile Products, and Infrastructure and Defense Products. The company offers integrated modules incorporating switches, power amplifiers, filters and duplexers, antenna tuners, RF power management integrated circuits, multimode/multi-band PAs and transmit modules, antenna-plexers, discrete filters and duplexers, discrete switches, and UWB system solutions, as well as envelope tracking power management solutions, antenna control solutions, and UWB system solutions supporting secure, low power, location, and communication services.
Want to see what other hedge funds are holding QRVO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qorvo, Inc. (NASDAQ:QRVO).
Receive News & Ratings for Qorvo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qorvo and related companies with MarketBeat.com's FREE daily email newsletter.