Qorvo, Inc. (NASDAQ:QRVO) Shares Purchased by AE Wealth Management LLC

AE Wealth Management LLC increased its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 9.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 150,450 shares of the semiconductor company’s stock after purchasing an additional 12,740 shares during the quarter. AE Wealth Management LLC owned approximately 0.16% of Qorvo worth $17,458,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the stock. Intech Investment Management LLC raised its holdings in Qorvo by 39.8% during the second quarter. Intech Investment Management LLC now owns 49,912 shares of the semiconductor company’s stock valued at $5,792,000 after buying an additional 14,199 shares in the last quarter. XTX Topco Ltd raised its stake in Qorvo by 163.9% during the 2nd quarter. XTX Topco Ltd now owns 8,810 shares of the semiconductor company’s stock valued at $1,022,000 after purchasing an additional 5,471 shares during the last quarter. Seven Eight Capital LP lifted its position in shares of Qorvo by 46.5% in the 2nd quarter. Seven Eight Capital LP now owns 16,749 shares of the semiconductor company’s stock worth $1,944,000 after acquiring an additional 5,313 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in Qorvo by 11.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,258 shares of the semiconductor company’s stock worth $1,064,000 after purchasing an additional 968 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Qorvo by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,323,463 shares of the semiconductor company’s stock worth $153,558,000 after acquiring an additional 4,386 shares during the period. 88.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

QRVO has been the subject of a number of recent analyst reports. Susquehanna dropped their target price on shares of Qorvo from $145.00 to $135.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. StockNews.com lowered shares of Qorvo from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. TD Cowen raised Qorvo to a “hold” rating in a research note on Monday, September 16th. Raymond James boosted their price objective on shares of Qorvo from $115.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their target price on Qorvo from $100.00 to $115.00 and gave the stock an “underweight” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Qorvo currently has a consensus rating of “Hold” and a consensus target price of $121.00.

Insider Activity at Qorvo

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

Qorvo Trading Down 0.9 %

Shares of Qorvo stock opened at $102.26 on Friday. The business has a fifty day simple moving average of $112.02 and a two-hundred day simple moving average of $110.42. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.95 and a quick ratio of 1.36. The company has a market capitalization of $9.70 billion, a price-to-earnings ratio of -140.08, a P/E/G ratio of 1.23 and a beta of 1.46. Qorvo, Inc. has a 1 year low of $80.62 and a 1 year high of $130.99.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. The company had revenue of $886.70 million for the quarter, compared to analyst estimates of $851.95 million. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. The firm’s quarterly revenue was up 36.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.03 earnings per share. Research analysts forecast that Qorvo, Inc. will post 4.8 EPS for the current year.

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.