Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Qorvo Inc (NASDAQ:QRVO) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 46,219 shares of the semiconductor company’s stock, valued at approximately $3,315,000.
Other hedge funds have also added to or reduced their stakes in the company. United Services Automobile Association raised its stake in Qorvo by 7.8% during the fourth quarter. United Services Automobile Association now owns 65,205 shares of the semiconductor company’s stock worth $3,960,000 after buying an additional 4,715 shares during the last quarter. Diversified Trust Co bought a new position in Qorvo during the fourth quarter worth $263,000. Amundi Pioneer Asset Management Inc. raised its stake in Qorvo by 4.5% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 59,369 shares of the semiconductor company’s stock worth $3,606,000 after buying an additional 2,554 shares during the last quarter. Fisher Asset Management LLC raised its stake in Qorvo by 13.9% during the fourth quarter. Fisher Asset Management LLC now owns 1,052,049 shares of the semiconductor company’s stock worth $63,891,000 after buying an additional 128,184 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Qorvo during the first quarter worth $275,000. 92.69% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on QRVO. TheStreet raised shares of Qorvo from a “c+” rating to a “b-” rating in a research note on Monday, March 25th. Zacks Investment Research downgraded shares of Qorvo from a “buy” rating to a “sell” rating in a research note on Tuesday. ValuEngine raised shares of Qorvo from a “sell” rating to a “hold” rating in a research note on Monday, February 25th. BidaskClub downgraded shares of Qorvo from a “hold” rating to a “sell” rating in a research note on Wednesday, February 20th. Finally, Needham & Company LLC reissued a “buy” rating and set a $70.00 target price on shares of Qorvo in a research note on Monday, March 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $76.10.
NASDAQ:QRVO opened at $75.18 on Friday. The company has a quick ratio of 2.78, a current ratio of 3.90 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $9.23 billion, a price-to-earnings ratio of 15.73, a P/E/G ratio of 1.41 and a beta of 0.92. Qorvo Inc has a 12 month low of $54.74 and a 12 month high of $86.50.
Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Thursday, February 7th. The semiconductor company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.30. The business had revenue of $832.20 million during the quarter, compared to analysts’ expectations of $819.21 million. Qorvo had a net margin of 1.92% and a return on equity of 14.11%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the company posted $1.69 earnings per share. As a group, research analysts anticipate that Qorvo Inc will post 5.03 EPS for the current year.
ILLEGAL ACTIVITY WARNING: “Los Angeles Capital Management & Equity Research Inc. Takes Position in Qorvo Inc (QRVO)” was originally reported by Baseball Daily News and is the property of of Baseball Daily News. If you are accessing this news story on another website, it was illegally copied and republished in violation of US & international copyright & trademark law. The legal version of this news story can be read at https://www.baseballdailydigest.com/news/2019/05/04/los-angeles-capital-management-equity-research-inc-takes-position-in-qorvo-inc-qrvo.html.
Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.
Further Reading: What is Compound Interest?
Want to see what other hedge funds are holding QRVO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qorvo Inc (NASDAQ:QRVO).
Receive News & Ratings for Qorvo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qorvo and related companies with MarketBeat.com's FREE daily email newsletter.