Boston Partners Boosts Position in Qorvo, Inc. $QRVO

Boston Partners raised its stake in Qorvo, Inc. (NASDAQ:QRVO) by 190.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 332,626 shares of the semiconductor company’s stock after purchasing an additional 218,251 shares during the period. Boston Partners owned 0.36% of Qorvo worth $28,245,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QRVO. Voya Investment Management LLC grew its position in shares of Qorvo by 19.0% in the 1st quarter. Voya Investment Management LLC now owns 18,725 shares of the semiconductor company’s stock valued at $1,356,000 after buying an additional 2,990 shares during the last quarter. F&V Capital Management LLC grew its holdings in shares of Qorvo by 69.0% during the second quarter. F&V Capital Management LLC now owns 157,062 shares of the semiconductor company’s stock worth $13,336,000 after purchasing an additional 64,114 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Qorvo during the second quarter worth about $2,758,000. Janney Montgomery Scott LLC lifted its holdings in shares of Qorvo by 61.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 10,901 shares of the semiconductor company’s stock valued at $926,000 after purchasing an additional 4,157 shares during the last quarter. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Qorvo in the 1st quarter valued at about $267,000. Institutional investors and hedge funds own 88.57% of the company’s stock.

Insider Activity at Qorvo

In other news, SVP Paul J. Fego sold 13,612 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $95.00, for a total value of $1,293,140.00. Following the completion of the sale, the senior vice president directly owned 54,558 shares of the company’s stock, valued at $5,183,010. This trade represents a 19.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is owned by corporate insiders.

Qorvo Stock Up 1.5%

QRVO stock opened at $87.84 on Thursday. Qorvo, Inc. has a one year low of $49.46 and a one year high of $106.30. The stock has a market capitalization of $8.12 billion, a PE ratio of 38.03, a price-to-earnings-growth ratio of 1.57 and a beta of 1.44. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.20 and a current ratio of 2.95. The company has a fifty day moving average of $90.80 and a 200-day moving average of $85.56.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Tuesday, November 4th. The semiconductor company reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.19. Qorvo had a net margin of 5.95% and a return on equity of 13.30%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the business earned $1.88 EPS. As a group, analysts expect that Qorvo, Inc. will post 4.09 EPS for the current year.

Wall Street Analysts Forecast Growth

QRVO has been the topic of several research analyst reports. Susquehanna reaffirmed a “neutral” rating and set a $95.00 price target (up previously from $90.00) on shares of Qorvo in a research report on Wednesday, July 30th. Craig Hallum reaffirmed a “buy” rating on shares of Qorvo in a report on Wednesday, July 30th. Piper Sandler cut shares of Qorvo from an “overweight” rating to a “hold” rating and set a $110.00 price target for the company. in a research note on Wednesday, October 29th. TD Cowen raised their price objective on shares of Qorvo from $80.00 to $95.00 and gave the stock a “hold” rating in a research report on Wednesday, July 30th. Finally, Stifel Nicolaus set a $88.00 target price on shares of Qorvo and gave the company a “hold” rating in a report on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $102.00.

About Qorvo

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.