CX Institutional Makes New Investment in Qorvo, Inc. (NASDAQ:QRVO)

CX Institutional bought a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) during the fourth quarter, HoldingsChannel.com reports. The firm bought 3,208 shares of the semiconductor company’s stock, valued at approximately $224,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its holdings 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 buying an additional 201 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Qorvo during the third quarter worth about $41,000. Versant Capital Management Inc boosted its holdings in Qorvo by 89.7% during the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock worth $42,000 after buying an additional 286 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Qorvo by 33.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 104 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Qorvo by 33.8% during the 3rd quarter. UMB Bank n.a. now owns 736 shares of the semiconductor company’s stock valued at $76,000 after purchasing an additional 186 shares in the last quarter. Institutional investors own 88.57% of the company’s stock.

Qorvo Stock Performance

NASDAQ:QRVO opened at $88.94 on Monday. The stock has a fifty day moving average price of $72.18 and a 200-day moving average price of $92.38. The company has a market cap of $8.41 billion, a price-to-earnings ratio of -60.92, a PEG ratio of 6.98 and a beta of 1.40. 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 fifty-two week low of $64.54 and a fifty-two week high of $130.99.

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

Insider Buying and Selling

In related news, SVP Philip Chesley sold 4,045 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $70.15, for a total transaction of $283,756.75. Following the completion of the sale, the senior vice president now directly owns 30,261 shares in the company, valued at $2,122,809.15. This represents a 11.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Raymond James cut Qorvo from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. BNP Paribas cut Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price objective on the stock. in a report on Wednesday, October 30th. StockNews.com cut Qorvo from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Mizuho lifted their price objective on Qorvo from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday. Finally, Loop Capital started coverage on Qorvo in a report on Monday, November 11th. They set a “hold” rating and a $73.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Qorvo currently has an average rating of “Hold” and a consensus price target of $98.24.

Qorvo 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.