Qorvo, Inc. (NASDAQ:QRVO) Shares Bought by iSAM Funds UK Ltd

iSAM Funds UK Ltd lifted its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 78.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,321 shares of the semiconductor company’s stock after purchasing an additional 1,905 shares during the quarter. iSAM Funds UK Ltd’s holdings in Qorvo were worth $446,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Larson Financial Group LLC increased its position in Qorvo by 163.4% during the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 201 shares during the last quarter. New Millennium Group LLC acquired a new stake in shares of Qorvo during the 2nd quarter worth approximately $34,000. Blue Trust Inc. increased its holdings in shares of Qorvo by 241.6% during the 2nd quarter. Blue Trust Inc. now owns 345 shares of the semiconductor company’s stock worth $40,000 after buying an additional 244 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Qorvo during the 3rd quarter valued at approximately $41,000. Finally, Farther Finance Advisors LLC lifted its holdings in Qorvo by 33.7% in the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 104 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Stock Down 0.5 %

Shares of NASDAQ QRVO opened at $68.33 on Friday. Qorvo, Inc. has a 12-month low of $64.54 and a 12-month high of $130.99. The business’s fifty day simple moving average is $83.48 and its 200-day simple moving average is $101.06. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. The stock has a market cap of $6.46 billion, a P/E ratio of -46.80, a PEG ratio of 5.62 and a beta of 1.42.

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

Insiders Place Their Bets

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of Qorvo stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total value of $283,756.75. Following the transaction, the senior vice president now directly owns 30,261 shares in the company, valued at approximately $2,122,809.15. The trade was a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on QRVO shares. StockNews.com cut Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Loop Capital started coverage on Qorvo in a research report on Monday, November 11th. They set a “hold” rating and a $73.00 price objective for the company. Piper Sandler decreased their target price on shares of Qorvo from $120.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Craig Hallum lowered their target price on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, Barclays reduced their price target on shares of Qorvo from $120.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Qorvo presently has an average 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.