Parametric Portfolio Associates LLC Has $23.27 Million Stake in Qorvo, Inc. (QRVO)
Parametric Portfolio Associates LLC boosted its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 10.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 329,234 shares of the semiconductor company’s stock after purchasing an additional 30,198 shares during the period. Parametric Portfolio Associates LLC owned about 0.26% of Qorvo worth $23,270,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Penserra Capital Management LLC purchased a new stake in Qorvo during the third quarter valued at approximately $130,000. Federated Investors Inc. PA increased its holdings in Qorvo by 4.0% during the second quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock valued at $147,000 after buying an additional 90 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Qorvo by 79.9% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,252 shares of the semiconductor company’s stock worth $159,000 after purchasing an additional 1,000 shares in the last quarter. Advisor Group Inc. increased its stake in shares of Qorvo by 5.1% in the second quarter. Advisor Group Inc. now owns 2,584 shares of the semiconductor company’s stock worth $164,000 after purchasing an additional 126 shares in the last quarter. Finally, Achmea Investment Management B.V. purchased a new stake in shares of Qorvo in the second quarter worth $188,000. Institutional investors own 96.72% of the company’s stock.
In other news, VP Steven E. Creviston sold 6,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $65.50, for a total value of $393,000.00. Following the completion of the sale, the vice president now owns 88,725 shares in the company, valued at approximately $5,811,487.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel A. Dileo sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $80.00, for a total transaction of $200,000.00. Following the completion of the sale, the director now owns 4,622 shares of the company’s stock, valued at approximately $369,760. The disclosure for this sale can be found here. Insiders sold a total of 60,696 shares of company stock valued at $4,519,191 in the last 90 days. Company insiders own 0.91% of the company’s stock.
A number of brokerages have recently issued reports on QRVO. BidaskClub cut shares of Qorvo from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 12th. Morgan Stanley increased their price objective on shares of Qorvo from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 13th. ValuEngine cut shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. Cowen reaffirmed a “hold” rating and set a $85.00 target price on shares of Qorvo in a research note on Sunday, September 17th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Qorvo in a research note on Wednesday, October 11th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $76.89.
Qorvo, Inc. (NASDAQ:QRVO) opened at $67.69 on Tuesday. Qorvo, Inc. has a 12-month low of $52.05 and a 12-month high of $81.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.71 and a current ratio of 3.80. The company has a market cap of $8,630.00 and a price-to-earnings ratio of -483.50.
Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported $1.52 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.52. Qorvo had a negative net margin of 0.59% and a positive return on equity of 10.77%. The business had revenue of $821.60 million during the quarter, compared to analyst estimates of $810.47 million. During the same quarter last year, the business earned $1.29 earnings per share. Qorvo’s quarterly revenue was down 5.0% compared to the same quarter last year. equities research analysts forecast that Qorvo, Inc. will post 4.74 EPS for the current fiscal year.
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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).
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