Canada Pension Plan Investment Board raised its position in Qorvo, Inc. (NASDAQ:QRVO) by 34.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,912 shares of the semiconductor company’s stock after buying an additional 6,089 shares during the period. Canada Pension Plan Investment Board’s holdings in Qorvo were worth $1,514,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Baupost Group LLC MA acquired a new position in Qorvo during the first quarter worth $492,639,000. CHURCHILL MANAGEMENT Corp raised its position in Qorvo by 25.7% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 37,420 shares of the semiconductor company’s stock worth $2,369,000 after buying an additional 7,661 shares during the period. British Columbia Investment Management Corp raised its position in Qorvo by 105.0% in the first quarter. British Columbia Investment Management Corp now owns 46,806 shares of the semiconductor company’s stock worth $3,209,000 after buying an additional 23,973 shares during the period. Daiwa Securities Group Inc. raised its position in Qorvo by 164.5% in the first quarter. Daiwa Securities Group Inc. now owns 8,200 shares of the semiconductor company’s stock worth $562,000 after buying an additional 5,100 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its position in Qorvo by 24.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,415 shares of the semiconductor company’s stock worth $508,000 after buying an additional 1,438 shares during the period. 94.38% of the stock is owned by hedge funds and other institutional investors.

Shares of Qorvo, Inc. (NASDAQ:QRVO) opened at 70.93 on Monday. The firm’s 50-day moving average price is $68.72 and its 200-day moving average price is $69.43. Qorvo, Inc. has a 12 month low of $48.28 and a 12 month high of $79.34. The stock’s market capitalization is $9.03 billion.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.07. Qorvo had a negative net margin of 1.40% and a positive return on equity of 10.10%. The firm had revenue of $640.80 million for the quarter, compared to analyst estimates of $632.18 million. During the same quarter last year, the business earned $1.08 earnings per share. Qorvo’s revenue was down 8.3% compared to the same quarter last year. On average, equities research analysts forecast that Qorvo, Inc. will post $5.54 EPS for the current year.

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A number of equities analysts have recently weighed in on QRVO shares. Zacks Investment Research lowered Qorvo from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 21st. BidaskClub lowered Qorvo from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 16th. TheStreet lowered Qorvo from a “b” rating to a “c” rating in a research note on Wednesday, August 2nd. Charter Equity reissued a “buy” rating on shares of Qorvo in a research note on Friday, May 5th. Finally, Raymond James Financial, Inc. started coverage on Qorvo in a research note on Friday, June 16th. They set an “outperform” rating and a $87.00 price target for the company. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $73.28.

In related news, insider Robert A. Bruggeworth sold 27,840 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $77.87, for a total transaction of $2,167,900.80. Following the sale, the insider now owns 238,682 shares in the company, valued at $18,586,167.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John R. Harding sold 3,260 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $71.79, for a total transaction of $234,035.40. Following the sale, the director now owns 6,322 shares in the company, valued at approximately $453,856.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,984 shares of company stock worth $7,801,949. 0.91% of the stock is owned by company insiders.

Qorvo Company Profile

Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).

Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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