Petrus Trust Company LTA Boosts Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Petrus Trust Company LTA lifted its position in Qorvo, Inc. (NASDAQ:QRVO) by 74.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,810 shares of the semiconductor company’s stock after purchasing an additional 4,172 shares during the quarter. Petrus Trust Company LTA’s holdings in Qorvo were worth $1,013,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Pacer Advisors Inc. increased its position in shares of Qorvo by 17,255.9% in the second quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company’s stock worth $165,590,000 after purchasing an additional 1,418,784 shares during the last quarter. Vulcan Value Partners LLC increased its holdings in shares of Qorvo by 35.0% in 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 raised its position 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 valued at $86,290,000 after buying an additional 487,621 shares in the last quarter. Caxton Associates LP bought a new stake in shares of Qorvo during the 2nd quarter worth $34,812,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings 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 acquiring an additional 236,590 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on QRVO shares. Raymond James lowered Qorvo from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. UBS Group reduced their price target on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Susquehanna lowered their price objective on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. BNP Paribas cut shares of Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price objective for the company. in a research note on Wednesday, October 30th. Finally, Morgan Stanley cut shares of Qorvo from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $130.00 to $120.00 in a research report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $102.88.

Qorvo Trading Down 0.5 %

NASDAQ QRVO opened at $70.43 on Wednesday. The stock has a market cap of $6.66 billion, a P/E ratio of -48.24, a price-to-earnings-growth ratio of 5.67 and a beta of 1.42. Qorvo, Inc. has a fifty-two week low of $64.98 and a fifty-two week high of $130.99. The stock has a 50 day simple moving average of $85.56 and a two-hundred day simple moving average of $101.70. 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 (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.03. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The firm’s revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.99 earnings per share. On average, analysts forecast that Qorvo, Inc. will post 3.37 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Gina Harrison sold 689 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $107.67, for a total value of $74,184.63. Following the sale, the vice president now directly owns 21,601 shares of the company’s stock, valued at $2,325,779.67. This represents a 3.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.46% of the company’s stock.

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.