B. Metzler seel. Sohn & Co. Holding AG Makes New Investment in Qorvo, Inc. (NASDAQ:QRVO)

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,366 shares of the semiconductor company’s stock, valued at approximately $244,000.

Several other institutional investors also recently made changes to their positions in QRVO. Pacer Advisors Inc. grew its stake in shares of Qorvo by 17,255.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company’s stock valued at $165,590,000 after buying an additional 1,418,784 shares during the period. Vulcan Value Partners LLC grew its stake in shares of Qorvo by 35.0% during the 2nd quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company’s stock valued at $246,665,000 after buying an additional 550,111 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Qorvo by 140.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company’s stock valued at $86,290,000 after buying an additional 487,621 shares during the period. Caxton Associates LP purchased a new stake in shares of Qorvo during the 2nd quarter valued at $34,812,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in Qorvo by 78.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company’s stock worth $55,548,000 after purchasing an additional 236,590 shares during the period. 88.57% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Qorvo news, VP Gina Harrison sold 689 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were 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 owns 21,601 shares in the company, valued at approximately $2,325,779.67. This represents a 3.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by company insiders.

Qorvo Price Performance

QRVO opened at $69.71 on Tuesday. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of -47.75, a price-to-earnings-growth ratio of 5.55 and a beta of 1.49. Qorvo, Inc. has a fifty-two week low of $64.98 and a fifty-two week high of $130.99. The company’s 50-day moving average price is $90.08 and its 200 day moving average price is $103.14. The company has a quick ratio of 1.38, a current ratio of 1.90 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.03. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. Qorvo’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.99 earnings per share. As a group, sell-side analysts expect that Qorvo, Inc. will post 3.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

QRVO has been the subject of a number of research reports. Raymond James cut shares of Qorvo from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. cut their price objective on shares of Qorvo from $115.00 to $95.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. StockNews.com lowered shares of Qorvo from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Rosenblatt Securities boosted their price objective on shares of Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Susquehanna cut their price objective on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $102.88.

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.