Versor Investments LP Raises Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Versor Investments LP boosted its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 232.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,400 shares of the semiconductor company’s stock after purchasing an additional 5,173 shares during the period. Versor Investments LP’s holdings in Qorvo were worth $764,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Qorvo during the second quarter valued at about $29,000. EverSource Wealth Advisors LLC boosted its stake in Qorvo by 81.0% in the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 115 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Qorvo by 9,333.3% during the 2nd quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 280 shares during the period. New Millennium Group LLC purchased a new stake in shares of Qorvo during the 2nd quarter worth approximately $34,000. Finally, Blue Trust Inc. increased its stake in shares of Qorvo by 241.6% during the 2nd quarter. Blue Trust Inc. now owns 345 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 244 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Insider Activity at Qorvo

In other Qorvo news, VP Gina Harrison sold 689 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the transaction, the vice president now directly owns 21,601 shares in the company, valued at $2,325,779.67. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on QRVO shares. Rosenblatt Securities increased their price objective on Qorvo from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Susquehanna cut their price target on Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. TD Cowen lowered their price objective on Qorvo from $125.00 to $85.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. Raymond James lowered shares of Qorvo from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Qorvo from $115.00 to $95.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $102.88.

Qorvo Price Performance

QRVO stock opened at $67.27 on Wednesday. The firm has a 50 day simple moving average of $96.45 and a two-hundred day simple moving average of $105.22. The stock has a market cap of $6.36 billion, a PE ratio of -46.08, a P/E/G ratio of 5.64 and a beta of 1.49. Qorvo, Inc. has a one year low of $67.16 and a one year high of $130.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.03. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business earned $1.99 earnings per share. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, analysts predict that Qorvo, Inc. will post 3.37 EPS for the current fiscal year.

Qorvo 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.