Qorvo, Inc. (NASDAQ:QRVO) Position Raised by Tidal Investments LLC

Tidal Investments LLC lifted its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 188.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 37,729 shares of the semiconductor company’s stock after acquiring an additional 24,635 shares during the period. Tidal Investments LLC’s holdings in Qorvo were worth $3,897,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Vulcan Value Partners LLC boosted its stake in 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 purchasing an additional 550,111 shares during the period. Pacer Advisors Inc. boosted its position in shares of Qorvo by 7.1% during the third quarter. Pacer Advisors Inc. now owns 1,528,748 shares of the semiconductor company’s stock worth $157,920,000 after buying an additional 101,742 shares during the period. Dimensional Fund Advisors LP grew its holdings in Qorvo by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,323,463 shares of the semiconductor company’s stock worth $153,558,000 after buying an additional 4,386 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Qorvo by 140.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company’s stock valued at $86,290,000 after acquiring an additional 487,621 shares during the period. Finally, Van ECK Associates Corp raised its stake in Qorvo by 23.9% during the 3rd quarter. Van ECK Associates Corp now owns 832,292 shares of the semiconductor company’s stock valued at $83,429,000 after acquiring an additional 160,534 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Analysts Set New Price Targets

QRVO has been the subject of several recent analyst reports. Bank of America decreased their price target on Qorvo from $115.00 to $80.00 and set an “underperform” rating for the company in a research note on Wednesday, October 30th. Susquehanna lowered their target price on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Piper Sandler reduced their price target on shares of Qorvo from $120.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Benchmark cut shares of Qorvo from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, TD Cowen dropped their target price on Qorvo from $125.00 to $85.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $102.88.

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 stock was sold at an average price of $70.15, for a total value of $283,756.75. Following the completion of the transaction, the senior vice president now directly owns 30,261 shares of the company’s stock, valued at $2,122,809.15. The trade was a 11.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.46% of the company’s stock.

Qorvo Stock Down 0.1 %

Shares of QRVO opened at $69.59 on Friday. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of -47.66, a PEG ratio of 5.53 and a beta of 1.42. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90. Qorvo, Inc. has a 52 week low of $64.54 and a 52 week high of $130.99. The business’s fifty day moving average price is $80.23 and its two-hundred day moving average price is $100.04.

Qorvo (NASDAQ:QRVO) last issued 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 negative net margin of 3.58% and a positive return on equity of 13.81%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company earned $1.99 earnings per share. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, analysts predict that Qorvo, Inc. will post 3.37 earnings per share for the current year.

Qorvo Company Profile

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.