Guggenheim Capital LLC raised its stake in Qorvo Inc (NASDAQ:QRVO) by 2.5% in the 1st quarter, HoldingsChannel reports. The firm owned 135,615 shares of the semiconductor company’s stock after acquiring an additional 3,334 shares during the quarter. Guggenheim Capital LLC’s holdings in Qorvo were worth $10,934,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of QRVO. Norges Bank bought a new stake in Qorvo in the fourth quarter valued at $168,070,000. AQR Capital Management LLC increased its position in shares of Qorvo by 93.4% during the fourth quarter. AQR Capital Management LLC now owns 2,342,296 shares of the semiconductor company’s stock worth $272,245,000 after acquiring an additional 1,131,336 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Qorvo by 96.2% during the fourth quarter. Renaissance Technologies LLC now owns 1,951,754 shares of the semiconductor company’s stock worth $226,852,000 after acquiring an additional 956,848 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Qorvo by 247.0% during the first quarter. Janus Henderson Group PLC now owns 696,202 shares of the semiconductor company’s stock worth $56,134,000 after acquiring an additional 495,565 shares in the last quarter. Finally, Iridian Asset Management LLC CT increased its position in shares of Qorvo by 50.2% during the first quarter. Iridian Asset Management LLC CT now owns 1,152,850 shares of the semiconductor company’s stock worth $92,954,000 after acquiring an additional 385,249 shares in the last quarter. 87.88% of the stock is owned by hedge funds and other institutional investors.

In other news, VP Steven E. Creviston sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $102.76, for a total value of $205,520.00. Following the sale, the vice president now owns 53,444 shares of the company’s stock, valued at $5,491,905.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Gina Harrison sold 1,328 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $115.53, for a total transaction of $153,423.84. Over the last quarter, insiders sold 31,437 shares of company stock worth $3,205,970. Corporate insiders own 0.71% of the company’s stock.

QRVO traded down $1.11 during midday trading on Friday, reaching $107.86. The company had a trading volume of 177,474 shares, compared to its average volume of 1,416,435. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.18 and a current ratio of 3.14. The stock has a market cap of $12.47 billion, a PE ratio of 38.14, a P/E/G ratio of 2.23 and a beta of 1.41. Qorvo Inc has a 12-month low of $64.61 and a 12-month high of $122.37. The business has a 50-day moving average price of $106.06 and a two-hundred day moving average price of $101.29.

Qorvo (NASDAQ:QRVO) last released its earnings results on Thursday, May 7th. The semiconductor company reported $1.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.24. The firm had revenue of $787.80 million for the quarter, compared to analysts’ expectations of $769.38 million. Qorvo had a net margin of 10.32% and a return on equity of 15.74%. The company’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.22 earnings per share. On average, research analysts anticipate that Qorvo Inc will post 4.73 earnings per share for the current year.

QRVO has been the subject of several recent research reports. Bank of America reissued a “buy” rating on shares of Qorvo in a research report on Thursday, May 21st. ValuEngine raised shares of Qorvo from a “sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Morgan Stanley raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and set a $130.00 target price for the company in a research report on Tuesday, June 16th. Cowen boosted their target price on shares of Qorvo from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, June 15th. Finally, UBS Group boosted their target price on shares of Qorvo from $91.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $112.05.

Qorvo Company Profile

Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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