Creative Planning Has $1.15 Million Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Creative Planning increased its stake in Qorvo, Inc. (NASDAQ:QRVO) by 14.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,151 shares of the semiconductor company’s stock after purchasing an additional 1,400 shares during the period. Creative Planning’s holdings in Qorvo were worth $1,152,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Pacer Advisors Inc. increased its position in Qorvo by 17,255.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company’s stock worth $165,590,000 after purchasing an additional 1,418,784 shares in the last quarter. Vulcan Value Partners LLC raised its stake in Qorvo by 35.0% during the 2nd quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company’s stock worth $246,665,000 after buying an additional 550,111 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Qorvo by 1,507.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 347,715 shares of the semiconductor company’s stock worth $40,349,000 after acquiring an additional 326,087 shares during the last quarter. Caxton Associates LP bought a new stake in Qorvo in the 2nd quarter worth about $34,812,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in 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. Institutional investors and hedge funds own 88.57% of the company’s stock.

Wall Street Analysts Forecast Growth

QRVO has been the subject of several recent research reports. Benchmark downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Wednesday. Rosenblatt Securities boosted their target price on Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. BNP Paribas downgraded Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price objective on the stock. in a report on Wednesday. JPMorgan Chase & Co. cut their target price on Qorvo from $115.00 to $95.00 and set an “underweight” rating on the stock in a research note on Wednesday. Finally, StockNews.com lowered shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $104.47.

Qorvo Trading Down 2.4 %

Shares of NASDAQ:QRVO opened at $71.26 on Friday. Qorvo, Inc. has a 1 year low of $70.39 and a 1 year high of $130.99. The stock’s fifty day moving average price is $104.06 and its 200-day moving average price is $107.74. 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 cap of $6.77 billion, a P/E ratio of -97.62, a PEG ratio of 1.20 and a beta of 1.45.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company earned $1.99 earnings per share. Qorvo’s revenue was down 5.2% on a year-over-year basis. Sell-side analysts expect that Qorvo, Inc. will post 4.84 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Gina Harrison sold 689 shares of Qorvo stock in a transaction 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 transaction, the vice president now owns 21,601 shares in the company, valued at approximately $2,325,779.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.46% of the company’s stock.

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.