Baader Bank Aktiengesellschaft Makes New $212,000 Investment in Qorvo, Inc. (NASDAQ:QRVO)

Baader Bank Aktiengesellschaft purchased a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO) during the fourth quarter, Holdings Channel.com reports. The firm purchased 3,036 shares of the semiconductor company’s stock, valued at approximately $212,000.

Other hedge funds have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. raised its position in Qorvo by 33.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 715,045 shares of the semiconductor company’s stock valued at $50,003,000 after buying an additional 177,315 shares during the period. KBC Group NV grew its stake in Qorvo by 144.8% during the 4th quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company’s stock valued at $75,328,000 after acquiring an additional 637,087 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Qorvo by 23.6% in the 4th quarter. Blue Trust Inc. now owns 1,739 shares of the semiconductor company’s stock valued at $122,000 after purchasing an additional 332 shares during the period. CX Institutional purchased a new stake in shares of Qorvo in the fourth quarter worth approximately $224,000. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Qorvo by 245.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company’s stock worth $1,024,000 after purchasing an additional 10,405 shares during the period. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Stock Performance

Shares of QRVO opened at $82.98 on Friday. The company has a market capitalization of $7.84 billion, a PE ratio of 296.36, a price-to-earnings-growth ratio of 6.89 and a beta of 1.40. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38. Qorvo, Inc. has a one year low of $64.54 and a one year high of $130.99. The company’s fifty day moving average price is $74.01 and its 200 day moving average price is $91.48.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.03. Qorvo had a return on equity of 12.32% and a net margin of 0.71%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company posted $1.99 earnings per share. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, analysts expect that Qorvo, Inc. will post 3.37 earnings per share for the current year.

Wall Street Analyst Weigh In

QRVO has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Qorvo in a research report on Wednesday. Bank of America cut their price objective on Qorvo from $115.00 to $80.00 and set an “underperform” rating for the company in a report on Wednesday, October 30th. BNP Paribas downgraded Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 target price on the stock. in a research note on Wednesday, October 30th. Susquehanna dropped their target price on Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Finally, Morgan Stanley upgraded Qorvo from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $90.00 to $106.00 in a report on Tuesday, January 21st. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $95.84.

Insider Buying and Selling at Qorvo

In related news, SVP Philip Chesley sold 4,045 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total transaction of $283,756.75. Following the transaction, the senior vice president now owns 30,261 shares of the company’s stock, valued at approximately $2,122,809.15. The trade was a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.46% of the company’s stock.

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.