Los Angeles Capital Management & Equity Research Inc. Takes Position in Qorvo Inc (QRVO)

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.

In other news, VP Steven E. Creviston sold 3,000 shares of Qorvo stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $65.00, for a total transaction of $195,000.00. Following the completion of the transaction, the vice president now directly owns 58,006 shares in the company, valued at $3,770,390. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ralph Quinsey sold 209,349 shares of Qorvo stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $69.01, for a total transaction of $14,447,174.49. Following the transaction, the director now owns 84,242 shares of the company’s stock, valued at $5,813,540.42. The disclosure for this sale can be found here. Insiders have sold 222,295 shares of company stock valued at $15,363,409 over the last quarter. Corporate insiders own 0.85% of the company’s stock.

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.

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Qorvo Profile

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.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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