Nisa Investment Advisors LLC Boosts Stake in Qorvo, Inc. (NASDAQ:QRVO)

Nisa Investment Advisors LLC increased its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 8.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,467 shares of the semiconductor company’s stock after acquiring an additional 200 shares during the period. Nisa Investment Advisors LLC’s holdings in Qorvo were worth $278,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of QRVO. Vanguard Group Inc. grew its stake in shares of Qorvo by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 12,196,858 shares of the semiconductor company’s stock worth $1,513,630,000 after purchasing an additional 58,395 shares during the period. Baupost Group LLC MA grew its position in Qorvo by 11.8% during the first quarter. Baupost Group LLC MA now owns 6,645,712 shares of the semiconductor company’s stock worth $824,733,000 after buying an additional 699,968 shares during the period. State Street Corp increased its holdings in Qorvo by 0.3% in the first quarter. State Street Corp now owns 4,801,902 shares of the semiconductor company’s stock valued at $595,916,000 after buying an additional 16,097 shares in the last quarter. Barclays PLC lifted its position in shares of Qorvo by 646.2% during the 3rd quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company’s stock valued at $369,091,000 after acquiring an additional 3,347,972 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Qorvo by 0.3% during the 1st quarter. Geode Capital Management LLC now owns 2,151,025 shares of the semiconductor company’s stock worth $217,996,000 after acquiring an additional 5,396 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Insider Transactions at Qorvo

In related news, SVP Paul J. Fego sold 3,027 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $345,078.00. Following the completion of the sale, the senior vice president now directly owns 29,705 shares in the company, valued at $3,386,370. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, VP Gina Harrison sold 354 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $40,356.00. Following the completion of the transaction, the vice president now owns 18,442 shares of the company’s stock, valued at $2,102,388. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Paul J. Fego sold 3,027 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $345,078.00. Following the transaction, the senior vice president now directly owns 29,705 shares of the company’s stock, valued at approximately $3,386,370. The disclosure for this sale can be found here. Insiders have sold a total of 6,381 shares of company stock worth $745,434 in the last three months. Company insiders own 0.43% of the company’s stock.

Qorvo Trading Down 1.9 %

Shares of Qorvo stock opened at $107.84 on Friday. Qorvo, Inc. has a fifty-two week low of $80.62 and a fifty-two week high of $121.65. The business’s fifty day moving average is $113.89 and its two-hundred day moving average is $104.39. The company has a quick ratio of 1.33, a current ratio of 1.90 and a debt-to-equity ratio of 0.43. The firm has a market cap of $10.41 billion, a PE ratio of -50.16, a P/E/G ratio of 0.85 and a beta of 1.56.

Qorvo (NASDAQ:QRVO) last released its earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.42 by $0.47. Qorvo had a positive return on equity of 10.41% and a negative net margin of 6.11%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1 billion. Analysts anticipate that Qorvo, Inc. will post 4.95 earnings per share for the current year.

Wall Street Analyst Weigh In

QRVO has been the subject of several research reports. StockNews.com cut Qorvo from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Rosenblatt Securities lifted their price target on Qorvo from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Craig Hallum increased their price objective on shares of Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Piper Sandler dropped their target price on shares of Qorvo from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, February 1st. Finally, Raymond James upped their price target on shares of Qorvo from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $111.53.

Qorvo Company 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.