Qorvo, Inc. (NASDAQ:QRVO) Shares Bought by Mather Group LLC.

Mather Group LLC. grew its stake in Qorvo, Inc. (NASDAQ:QRVO) by 5.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,812 shares of the semiconductor company’s stock after purchasing an additional 96 shares during the period. Mather Group LLC.’s holdings in Qorvo were worth $208,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Capital Research Global Investors increased its stake in Qorvo by 2.1% in the 1st quarter. Capital Research Global Investors now owns 4,591,985 shares of the semiconductor company’s stock valued at $527,298,000 after buying an additional 93,068 shares during the period. FIL Ltd raised its holdings in Qorvo by 4.5% during the fourth quarter. FIL Ltd now owns 2,778,629 shares of the semiconductor company’s stock worth $312,901,000 after purchasing an additional 120,213 shares in the last quarter. Boston Partners raised its holdings in Qorvo by 0.5% during the fourth quarter. Boston Partners now owns 1,436,328 shares of the semiconductor company’s stock worth $161,726,000 after purchasing an additional 6,558 shares in the last quarter. Norges Bank acquired a new stake in Qorvo in the fourth quarter valued at about $118,120,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Qorvo by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 916,073 shares of the semiconductor company’s stock valued at $103,159,000 after purchasing an additional 22,951 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on QRVO. Barclays increased their target price on Qorvo from $100.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Piper Sandler reaffirmed a “neutral” rating and issued a $120.00 price objective (up from $105.00) on shares of Qorvo in a research note on Wednesday, July 31st. Rosenblatt Securities lifted their price target on Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Benchmark lowered their price objective on shares of Qorvo from $136.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Finally, Needham & Company LLC lifted their target price on shares of Qorvo from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $121.00.

Qorvo Trading Up 1.9 %

QRVO traded up $1.93 during trading on Wednesday, hitting $104.95. The company’s stock had a trading volume of 257,854 shares, compared to its average volume of 1,375,611. Qorvo, Inc. has a twelve month low of $80.62 and a twelve month high of $130.99. The firm’s 50 day moving average price is $113.88 and its 200-day moving average price is $110.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.95 and a quick ratio of 1.41. The stock has a market cap of $9.96 billion, a PE ratio of -141.12, a PEG ratio of 1.26 and a beta of 1.46.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.16. The firm had revenue of $886.70 million for the quarter, compared to the consensus estimate of $851.95 million. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. The firm’s revenue for the quarter was up 36.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.03 earnings per share. On average, analysts expect that Qorvo, Inc. will post 4.84 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Robert A. Bruggeworth sold 15,279 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $100.00, for a total transaction of $1,527,900.00. Following the completion of the sale, the chief executive officer now directly owns 190,161 shares in the company, valued at approximately $19,016,100. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Qorvo news, SVP Paul J. Fego sold 2,132 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $99.31, for a total transaction of $211,728.92. Following the completion of the sale, the senior vice president now directly owns 25,201 shares in the company, valued at $2,502,711.31. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert A. Bruggeworth sold 15,279 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $100.00, for a total transaction of $1,527,900.00. Following the completion of the transaction, the chief executive officer now directly owns 190,161 shares in the company, valued at approximately $19,016,100. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,431 shares of company stock valued at $4,426,243. Insiders own 0.46% of the company’s stock.

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.