Natixis Advisors L.P. raised its position in Qorvo, Inc. (NASDAQ:QRVO – Get Rating) by 2.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 113,576 shares of the semiconductor company’s stock after acquiring an additional 2,620 shares during the period. Natixis Advisors L.P.’s holdings in Qorvo were worth $17,762,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Carroll Financial Associates Inc. lifted its stake in shares of Qorvo by 12.2% in the 4th quarter. Carroll Financial Associates Inc. now owns 580 shares of the semiconductor company’s stock worth $90,000 after acquiring an additional 63 shares during the period. Aurora Investment Counsel lifted its stake in shares of Qorvo by 1.0% in the fourth quarter. Aurora Investment Counsel now owns 7,593 shares of the semiconductor company’s stock valued at $1,187,000 after purchasing an additional 78 shares during the period. Empirical Finance LLC lifted its stake in shares of Qorvo by 5.9% in the third quarter. Empirical Finance LLC now owns 1,461 shares of the semiconductor company’s stock valued at $244,000 after purchasing an additional 81 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Qorvo by 1.0% in the third quarter. Daiwa Securities Group Inc. now owns 8,395 shares of the semiconductor company’s stock valued at $1,404,000 after purchasing an additional 85 shares during the period. Finally, Strategic Investment Advisors MI lifted its stake in shares of Qorvo by 1.7% in the fourth quarter. Strategic Investment Advisors MI now owns 5,359 shares of the semiconductor company’s stock valued at $838,000 after purchasing an additional 89 shares during the period. Institutional investors own 83.49% of the company’s stock.
Several brokerages recently commented on QRVO. Barclays reduced their price objective on shares of Qorvo from $200.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, April 25th. Oppenheimer cut shares of Qorvo from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 13th. Piper Sandler reduced their price objective on shares of Qorvo from $200.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 3rd. Benchmark dropped their target price on shares of Qorvo from $225.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, February 3rd. Finally, BMO Capital Markets dropped their target price on shares of Qorvo from $185.00 to $160.00 and set a “market perform” rating for the company in a report on Thursday, February 3rd. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $176.38.
Qorvo (NASDAQ:QRVO – Get Rating) last released its earnings results on Wednesday, February 2nd. The semiconductor company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.28. Qorvo had a net margin of 24.60% and a return on equity of 27.27%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the firm earned $2.95 earnings per share. Qorvo’s revenue was up 1.8% compared to the same quarter last year. As a group, research analysts expect that Qorvo, Inc. will post 11.25 earnings per share for the current year.
In related news, VP Paul J. Fego sold 861 shares of the business’s stock in a transaction that occurred on Tuesday, February 15th. The shares were sold at an average price of $131.78, for a total value of $113,462.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.52% of the stock is currently owned by insiders.
Qorvo Company Profile (Get Rating)
Qorvo, Inc develops and commercializes technologies and products for wireless and wired connectivity worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. The company offers integrated modules incorporating switches, power amplifiers, filters, multiplexers and other components, radio frequency (RF) power management integrated circuits, antenna tuners, antenna-plexers, discrete filters and duplexers, discrete switches, and ultra-wideband (UWB) system solutions.
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