Neuberger Berman Group LLC grew its position in Qorvo Inc (NASDAQ:QRVO) by 4.9% in the second quarter, Holdings Channel reports. The fund owned 1,586,052 shares of the semiconductor company’s stock after acquiring an additional 74,497 shares during the quarter. Neuberger Berman Group LLC’s holdings in Qorvo were worth $175,306,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in QRVO. Ameritas Investment Company LLC acquired a new stake in Qorvo during the 1st quarter worth about $31,000. CSat Investment Advisory L.P. grew its holdings in Qorvo by 32.5% during the 1st quarter. CSat Investment Advisory L.P. now owns 620 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 152 shares during the period. Private Advisor Group LLC acquired a new stake in Qorvo during the 2nd quarter worth about $52,000. Royal Fund Management LLC acquired a new stake in Qorvo during the 1st quarter worth about $69,000. Finally, Tower Research Capital LLC TRC grew its holdings in Qorvo by 212.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 935 shares of the semiconductor company’s stock worth $75,000 after acquiring an additional 636 shares during the period. Institutional investors own 85.94% of the company’s stock.

Several analysts have recently commented on QRVO shares. Bank of America restated a “buy” rating on shares of Qorvo in a research note on Thursday, May 21st. Oppenheimer upgraded shares of Qorvo from a “market perform” rating to an “outperform” rating and set a $150.00 price target for the company in a research note on Thursday, July 30th. Mizuho lifted their price objective on shares of Qorvo from $114.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Goldman Sachs Group lifted their price objective on shares of Qorvo from $115.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Finally, Morgan Stanley lifted their price objective on shares of Qorvo from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $129.33.

In related news, CEO Robert A. Bruggeworth sold 4,555 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $131.40, for a total value of $598,527.00. Following the completion of the sale, the chief executive officer now owns 179,547 shares of the company’s stock, valued at $23,592,475.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Walter H. Wilkinson sold 2,347 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $133.80, for a total transaction of $314,028.60. Following the completion of the transaction, the director now directly owns 28,089 shares in the company, valued at approximately $3,758,308.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,658 shares of company stock worth $3,353,439. Insiders own 0.66% of the company’s stock.

Qorvo stock traded down $0.96 during midday trading on Wednesday, reaching $129.03. 21,195 shares of the company traded hands, compared to its average volume of 1,739,456. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.08 and a quick ratio of 3.05. Qorvo Inc has a 12 month low of $67.54 and a 12 month high of $136.06. The firm has a market capitalization of $14.85 billion, a price-to-earnings ratio of 39.56, a price-to-earnings-growth ratio of 1.76 and a beta of 1.44. The business has a 50 day moving average of $127.36 and a two-hundred day moving average of $105.49.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Wednesday, July 29th. The semiconductor company reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.37. Qorvo had a net margin of 12.05% and a return on equity of 16.10%. The company had revenue of $787.50 million during the quarter, compared to analysts’ expectations of $729.91 million. During the same period last year, the company posted $1.36 earnings per share. Qorvo’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, equities analysts forecast that Qorvo Inc will post 6.12 EPS for the current year.

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.

See Also: What are Institutional Investors?

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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