GAMMA Investing LLC Buys 172 Shares of Qorvo, Inc. (NASDAQ:QRVO)

GAMMA Investing LLC increased its position in Qorvo, Inc. (NASDAQ:QRVO) by 9.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,040 shares of the semiconductor company’s stock after purchasing an additional 172 shares during the period. GAMMA Investing LLC’s holdings in Qorvo were worth $211,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of QRVO. Pacer Advisors Inc. lifted its stake in shares of Qorvo by 17,255.9% in the second quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company’s stock worth $165,590,000 after buying an additional 1,418,784 shares in the last quarter. Vulcan Value Partners LLC raised 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 worth $246,665,000 after acquiring an additional 550,111 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Qorvo by 1,507.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 347,715 shares of the semiconductor company’s stock valued at $40,349,000 after purchasing an additional 326,087 shares during the last quarter. Caxton Associates LP bought a new stake in shares of Qorvo in the 2nd quarter worth $34,812,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Qorvo by 177.4% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 426,678 shares of the semiconductor company’s stock worth $48,995,000 after purchasing an additional 272,872 shares during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Stock Up 0.3 %

Qorvo stock opened at $101.83 on Friday. The stock’s fifty day moving average is $106.30 and its two-hundred day moving average is $109.09. The stock has a market cap of $9.66 billion, a PE ratio of -351.14, a P/E/G ratio of 1.24 and a beta of 1.45. Qorvo, Inc. has a 1-year low of $80.62 and a 1-year high of $130.99. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.95 and a quick ratio of 1.36.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.71 by $0.16. Qorvo had a negative net margin of 0.66% and a positive return on equity of 14.92%. The company had revenue of $886.70 million for the quarter, compared to analyst estimates of $851.95 million. During the same period in the previous year, the firm earned $0.03 EPS. The business’s revenue was up 36.2% on a year-over-year basis. On average, sell-side analysts expect that Qorvo, Inc. will post 4.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on QRVO shares. Barclays dropped their price objective on Qorvo from $125.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Thursday. Susquehanna reduced their price target on shares of Qorvo from $145.00 to $135.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Craig Hallum increased their target price on Qorvo from $124.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Piper Sandler reissued a “neutral” rating and set a $120.00 price objective (up previously from $105.00) on shares of Qorvo in a research report on Wednesday, July 31st. Finally, TD Cowen raised Qorvo to a “hold” rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Qorvo presently has a consensus rating of “Hold” and a consensus price target of $122.71.

Insider Buying and Selling

In other Qorvo news, VP Gina Harrison sold 689 shares of the business’s 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 completion of the sale, the vice president now directly owns 21,601 shares in the company, valued at $2,325,779.67. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is owned by company insiders.

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.