F&V Capital Management LLC grew its stake in Qorvo Inc (NASDAQ:QRVO) by 34.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,200 shares of the semiconductor company’s stock after purchasing an additional 17,460 shares during the quarter. Qorvo makes up about 2.4% of F&V Capital Management LLC’s holdings, making the stock its 22nd largest position. F&V Capital Management LLC owned approximately 0.05% of Qorvo worth $4,542,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. purchased a new stake in Qorvo in the second quarter worth $814,000. Toronto Dominion Bank increased its position in Qorvo by 26.1% in the second quarter. Toronto Dominion Bank now owns 43,048 shares of the semiconductor company’s stock worth $2,725,000 after buying an additional 8,911 shares during the last quarter. Janus Henderson Group PLC increased its position in Qorvo by 424.0% in the second quarter. Janus Henderson Group PLC now owns 77,882 shares of the semiconductor company’s stock worth $4,932,000 after buying an additional 63,019 shares during the last quarter. Robecosam AG increased its position in Qorvo by 17.9% in the second quarter. Robecosam AG now owns 165,000 shares of the semiconductor company’s stock worth $10,608,000 after buying an additional 25,000 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Qorvo in the second quarter valued at $933,000. Institutional investors own 96.72% of the company’s stock.
Qorvo Inc (NASDAQ:QRVO) opened at $69.39 on Wednesday. Qorvo Inc has a 1-year low of $56.90 and a 1-year high of $81.20. The company has a market cap of $8,840.00 and a PE ratio of -495.64. The company has a current ratio of 3.80, a quick ratio of 2.71 and a debt-to-equity ratio of 0.20.
Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.52. The firm had revenue of $821.60 million during the quarter, compared to the consensus estimate of $810.47 million. Qorvo had a negative net margin of 0.59% and a positive return on equity of 10.77%. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.29 EPS. equities research analysts forecast that Qorvo Inc will post 4.74 earnings per share for the current fiscal year.
In related news, VP Steven E. Creviston sold 6,000 shares of Qorvo stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $65.50, for a total transaction of $393,000.00. Following the transaction, the vice president now directly owns 88,725 shares of the company’s stock, valued at $5,811,487.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robert A. Bruggeworth sold 5,000 shares of Qorvo stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $65.57, for a total transaction of $327,850.00. Following the transaction, the insider now directly owns 185,344 shares in the company, valued at $12,153,006.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,096 shares of company stock worth $3,540,037. Corporate insiders own 0.91% of the company’s stock.
Several equities analysts have recently weighed in on QRVO shares. Mizuho reiterated a “hold” rating and issued a $70.00 price target on shares of Qorvo in a research report on Monday, October 9th. KeyCorp reiterated a “hold” rating on shares of Qorvo in a report on Wednesday, October 11th. Craig Hallum downgraded Qorvo from a “buy” rating to a “hold” rating and reduced their price target for the company from $78.00 to $71.00 in a report on Thursday, November 2nd. Northland Securities downgraded Qorvo from an “outperform” rating to a “market perform” rating in a report on Thursday, November 2nd. Finally, Drexel Hamilton reiterated a “buy” rating and set a $95.00 target price on shares of Qorvo in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $76.89.
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Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).
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