Qorvo, Inc. (NASDAQ:QRVO) Shares Purchased by Olympiad Research LP

Olympiad Research LP raised its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 109.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,962 shares of the semiconductor company’s stock after acquiring an additional 2,589 shares during the period. Olympiad Research LP’s holdings in Qorvo were worth $513,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Mather Group LLC. lifted its position in shares of Qorvo by 5.6% during the 2nd quarter. Mather Group LLC. now owns 1,812 shares of the semiconductor company’s stock worth $208,000 after buying an additional 96 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Qorvo by 33.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 104 shares during the period. V Square Quantitative Management LLC grew its stake in shares of Qorvo by 5.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company’s stock worth $231,000 after purchasing an additional 107 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Qorvo by 81.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 115 shares during the period. Finally, American Trust grew its stake in Qorvo by 5.8% in the 2nd quarter. American Trust now owns 2,110 shares of the semiconductor company’s stock valued at $245,000 after acquiring an additional 115 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Qorvo Stock Performance

QRVO stock opened at $72.86 on Thursday. The company has a 50 day moving average price of $99.96 and a 200 day moving average price of $106.44. The stock has a market capitalization of $6.89 billion, a PE ratio of -49.90, a price-to-earnings-growth ratio of 5.72 and a beta of 1.49. Qorvo, Inc. has a fifty-two week low of $70.39 and a fifty-two week high of $130.99. 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 (NASDAQ:QRVO) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.03. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the firm earned $1.99 EPS. Qorvo’s quarterly revenue was down 5.2% compared to the same quarter last year. Analysts forecast that Qorvo, Inc. will post 3.37 EPS for the current year.

Insider Activity at Qorvo

In other Qorvo news, VP Gina Harrison sold 689 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $107.67, for a total value of $74,184.63. Following the completion of the sale, the vice president now owns 21,601 shares in the company, valued at $2,325,779.67. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.46% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

QRVO has been the topic of a number of recent research reports. Needham & Company LLC initiated coverage on shares of Qorvo in a report on Monday, October 28th. They issued a “buy” rating and a $135.00 target price on the stock. TD Cowen dropped their target price on shares of Qorvo from $125.00 to $85.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. Barclays lowered their price objective on shares of Qorvo from $120.00 to $90.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 30th. StockNews.com downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Qorvo from $115.00 to $95.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Qorvo presently has a consensus rating of “Hold” and an average price target of $104.75.

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.