Css LLC Il Boosts Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Css LLC Il lifted its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 11.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,714 shares of the semiconductor company’s stock after buying an additional 500 shares during the period. Css LLC Il’s holdings in Qorvo were worth $330,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in QRVO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Qorvo by 20.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 682,076 shares of the semiconductor company’s stock worth $47,698,000 after purchasing an additional 117,053 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in Qorvo during the fourth quarter worth approximately $29,650,000. Woodline Partners LP increased its position in shares of Qorvo by 31.3% in the fourth quarter. Woodline Partners LP now owns 968,103 shares of the semiconductor company’s stock worth $67,699,000 after acquiring an additional 230,710 shares in the last quarter. Vident Advisory LLC raised its stake in shares of Qorvo by 16.4% in the 4th quarter. Vident Advisory LLC now owns 17,283 shares of the semiconductor company’s stock valued at $1,209,000 after acquiring an additional 2,440 shares during the period. Finally, Sovereign s Capital Management LLC acquired a new position in shares of Qorvo during the 4th quarter valued at $1,445,000. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Qorvo Price Performance

Shares of QRVO opened at $76.10 on Friday. Qorvo, Inc. has a 52 week low of $49.46 and a 52 week high of $130.99. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46. The firm has a market cap of $7.08 billion, a price-to-earnings ratio of 271.79, a PEG ratio of 15.57 and a beta of 1.38. The stock has a 50 day moving average of $67.61 and a 200-day moving average of $71.47.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.42. Qorvo had a return on equity of 12.41% and a net margin of 0.71%. The firm had revenue of $869.47 million for the quarter, compared to analysts’ expectations of $850.13 million. During the same period last year, the business posted $1.39 earnings per share. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. As a group, analysts forecast that Qorvo, Inc. will post 4.09 EPS for the current year.

Insider Transactions at Qorvo

In related news, Director John R. Harding sold 1,450 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total transaction of $101,630.50. Following the completion of the sale, the director now owns 7,597 shares of the company’s stock, valued at $532,473.73. This represents a 16.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

QRVO has been the subject of several recent research reports. Wall Street Zen upgraded Qorvo from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Piper Sandler raised shares of Qorvo from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $85.00 to $110.00 in a research report on Monday, January 27th. TD Cowen lowered their target price on Qorvo from $90.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, April 30th. Stifel Nicolaus set a $75.00 price target on Qorvo in a research note on Monday, April 28th. Finally, Benchmark raised Qorvo from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $91.21.

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.