Reynders McVeigh Capital Management LLC Has $335,000 Stake in Qorvo Inc (NASDAQ:QRVO)

Reynders McVeigh Capital Management LLC increased its stake in shares of Qorvo Inc (NASDAQ:QRVO) by 6.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,025 shares of the semiconductor company’s stock after acquiring an additional 300 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Qorvo were worth $335,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Boston Partners increased its holdings in shares of Qorvo by 6.5% during the 1st quarter. Boston Partners now owns 3,916,687 shares of the semiconductor company’s stock valued at $280,944,000 after acquiring an additional 238,370 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Qorvo by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 1,764,706 shares of the semiconductor company’s stock valued at $106,998,000 after acquiring an additional 122,684 shares during the last quarter. FMR LLC increased its holdings in shares of Qorvo by 15.5% during the 1st quarter. FMR LLC now owns 1,590,816 shares of the semiconductor company’s stock valued at $114,110,000 after acquiring an additional 213,091 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Qorvo by 13.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,441,062 shares of the semiconductor company’s stock valued at $87,523,000 after acquiring an additional 175,203 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Qorvo by 3.6% during the 2nd quarter. Fisher Asset Management LLC now owns 1,137,530 shares of the semiconductor company’s stock valued at $75,771,000 after acquiring an additional 39,136 shares during the last quarter. 93.17% of the stock is currently owned by institutional investors and hedge funds.

In related news, VP James L. Klein sold 1,914 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $61.71, for a total transaction of $118,112.94. Following the completion of the sale, the vice president now directly owns 51,945 shares of the company’s stock, valued at approximately $3,205,525.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Walter H. Wilkinson sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $74.25, for a total value of $222,750.00. Following the sale, the director now directly owns 39,327 shares of the company’s stock, valued at $2,920,029.75. The disclosure for this sale can be found here. Insiders have sold a total of 28,958 shares of company stock valued at $2,042,412 in the last 90 days. 0.71% of the stock is owned by corporate insiders.

Several analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Qorvo in a research note on Monday, August 5th. Mizuho set a $70.00 target price on Qorvo and gave the company a “hold” rating in a research note on Friday, August 2nd. Craig Hallum restated a “buy” rating and set a $85.00 target price (up previously from $75.00) on shares of Qorvo in a research note on Friday, August 2nd. Morgan Stanley increased their target price on Qorvo from $67.00 to $71.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Finally, Cowen restated a “market perform” rating and set a $75.00 target price (up previously from $65.00) on shares of Qorvo in a research note on Friday, August 2nd. Fourteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $76.86.

Shares of Qorvo stock traded down $3.15 during midday trading on Friday, hitting $70.34. 1,721,447 shares of the company were exchanged, compared to its average volume of 1,387,288. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.44 and a quick ratio of 2.30. The firm has a market cap of $8.66 billion, a P/E ratio of 13.40, a PEG ratio of 1.81 and a beta of 1.09. Qorvo Inc has a 52 week low of $54.74 and a 52 week high of $80.84. The firm has a 50 day simple moving average of $71.52 and a 200-day simple moving average of $69.64.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Thursday, August 1st. The semiconductor company reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.23. The business had revenue of $775.60 million during the quarter, compared to the consensus estimate of $738.98 million. Qorvo had a return on equity of 15.77% and a net margin of 6.39%. Qorvo’s revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the company earned $0.96 EPS. Equities research analysts expect that Qorvo Inc will post 4.3 earnings per share for the current year.

Qorvo Company 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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