Quantbot Technologies LP Grows Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Quantbot Technologies LP boosted its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 102.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,771 shares of the semiconductor company’s stock after buying an additional 20,662 shares during the period. Quantbot Technologies LP’s holdings in Qorvo were worth $4,212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of QRVO. Vulcan Value Partners LLC boosted its holdings in Qorvo by 35.0% in the 2nd quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company’s stock valued at $246,665,000 after purchasing an additional 550,111 shares during the period. Pacer Advisors Inc. boosted its holdings in Qorvo by 7.1% in the 3rd quarter. Pacer Advisors Inc. now owns 1,528,748 shares of the semiconductor company’s stock valued at $157,920,000 after purchasing an additional 101,742 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Qorvo by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,323,463 shares of the semiconductor company’s stock valued at $153,558,000 after purchasing an additional 4,386 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of Qorvo by 140.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company’s stock worth $86,290,000 after acquiring an additional 487,621 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Qorvo by 23.9% during the 3rd quarter. Van ECK Associates Corp now owns 832,292 shares of the semiconductor company’s stock worth $83,429,000 after acquiring an additional 160,534 shares during the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Qorvo

In related news, VP Gina Harrison sold 689 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the sale, the vice president now owns 21,601 shares of the company’s stock, valued at $2,325,779.67. The trade was a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.46% of the stock is owned by corporate insiders.

Qorvo Trading Down 2.2 %

QRVO stock opened at $68.15 on Wednesday. The firm’s 50-day moving average price is $89.46 and its two-hundred day moving average price is $102.95. Qorvo, Inc. has a 12-month low of $64.98 and a 12-month high of $130.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company earned $1.99 earnings per share. Qorvo’s quarterly revenue was down 5.2% on a year-over-year basis. As a group, analysts expect that Qorvo, Inc. will post 3.37 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on QRVO shares. BNP Paribas downgraded shares of Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price objective for the company. in a report on Wednesday, October 30th. The Goldman Sachs Group lifted their price objective on shares of Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. TD Cowen dropped their price objective on shares of Qorvo from $125.00 to $85.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Needham & Company LLC initiated coverage on shares of Qorvo in a report on Monday, October 28th. They set a “buy” rating and a $135.00 price objective for the company. Finally, Morgan Stanley downgraded shares of Qorvo from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $130.00 to $120.00 in a research note on Friday, October 11th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Qorvo has a consensus rating of “Hold” and a consensus price target of $102.88.

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.