Fisher Asset Management LLC Purchases 6,013 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Fisher Asset Management LLC boosted its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 529,746 shares of the semiconductor company’s stock after purchasing an additional 6,013 shares during the period. Fisher Asset Management LLC’s holdings in Qorvo were worth $54,723,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Qorvo during the 2nd quarter worth $29,000. EverSource Wealth Advisors LLC raised its stake in Qorvo by 81.0% during the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 115 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Qorvo by 9,333.3% in the second quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 280 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Qorvo by 163.4% in the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 201 shares in the last quarter. Finally, New Millennium Group LLC bought a new stake in shares of Qorvo during the 2nd quarter valued at approximately $34,000. Institutional investors and hedge funds own 88.57% of the company’s stock.

Insiders Place Their Bets

In other 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 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. This represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.46% of the company’s stock.

Qorvo Price Performance

QRVO stock opened at $68.15 on Wednesday. The company has a quick ratio of 1.38, a current ratio of 1.90 and a debt-to-equity ratio of 0.45. The firm has a market cap of $6.44 billion, a price-to-earnings ratio of -46.68, a PEG ratio of 5.55 and a beta of 1.49. The company’s fifty day simple moving average is $89.46 and its 200 day simple moving average is $102.95. Qorvo, Inc. has a 12-month low of $64.98 and a 12-month high of $130.99.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on QRVO shares. Benchmark lowered shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. UBS Group cut their price objective on Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Craig Hallum reduced their price objective on Qorvo from $142.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Barclays dropped their target price on Qorvo from $120.00 to $90.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 30th. Finally, Needham & Company LLC began coverage on Qorvo in a report on Monday, October 28th. They set a “buy” rating and a $135.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Qorvo presently has an average rating of “Hold” and an average price target 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.