Qsemble Capital Management LP Purchases Shares of 3,884 Qorvo, Inc. (NASDAQ:QRVO)

Qsemble Capital Management LP purchased a new stake in Qorvo, Inc. (NASDAQ:QRVO) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,884 shares of the semiconductor company’s stock, valued at approximately $401,000.

A number of other large investors have also recently added to or reduced their stakes in QRVO. Pacer Advisors Inc. lifted its stake in Qorvo by 17,255.9% in the second quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company’s stock valued at $165,590,000 after acquiring an additional 1,418,784 shares during the last quarter. Vulcan Value Partners LLC lifted its stake in shares of Qorvo by 35.0% during the 2nd quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company’s stock worth $246,665,000 after buying an additional 550,111 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Qorvo by 140.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company’s stock worth $86,290,000 after buying an additional 487,621 shares during the last quarter. Caxton Associates LP acquired a new stake in shares of Qorvo during the 2nd quarter worth about $34,812,000. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Qorvo by 78.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company’s stock worth $55,548,000 after buying an additional 236,590 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on QRVO. Morgan Stanley cut shares of Qorvo from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $130.00 to $120.00 in a research note on Friday, October 11th. Barclays cut their target price on shares of Qorvo from $120.00 to $90.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th. Raymond James cut shares of Qorvo from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Rosenblatt Securities raised their target price on shares of Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Loop Capital started coverage on shares of Qorvo in a research note on Monday, November 11th. They set a “hold” rating and a $73.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Qorvo presently has a consensus rating of “Hold” and an average price target of $102.88.

Qorvo Price Performance

QRVO stock opened at $68.40 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.90 and a debt-to-equity ratio of 0.45. Qorvo, Inc. has a 12 month low of $64.98 and a 12 month high of $130.99. The firm has a market cap of $6.47 billion, a P/E ratio of -46.68, a P/E/G ratio of 5.59 and a beta of 1.49. The company’s 50-day moving average price is $88.82 and its two-hundred day moving average price is $102.74.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the firm earned $1.99 EPS. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, analysts anticipate that Qorvo, Inc. will post 3.37 earnings per share for the current fiscal year.

Insider Activity at Qorvo

In related news, VP Gina Harrison sold 689 shares of Qorvo stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the sale, the vice president now directly owns 21,601 shares of the company’s stock, valued at approximately $2,325,779.67. The trade was a 3.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by insiders.

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.