10,087 Shares in Qorvo, Inc. (QRVO) Acquired by Nomura Holdings Inc.
Nomura Holdings Inc. purchased a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 10,087 shares of the semiconductor company’s stock, valued at approximately $639,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Baupost Group LLC MA bought a new stake in Qorvo during the 1st quarter valued at approximately $492,639,000. Manning & Napier Advisors LLC bought a new stake in Qorvo during the 2nd quarter valued at approximately $101,456,000. Vanguard Group Inc. boosted its stake in Qorvo by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 12,549,555 shares of the semiconductor company’s stock valued at $794,638,000 after purchasing an additional 430,596 shares during the period. Renaissance Technologies LLC bought a new stake in Qorvo during the 2nd quarter valued at approximately $18,990,000. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in Qorvo by 60.8% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 591,476 shares of the semiconductor company’s stock valued at $40,551,000 after purchasing an additional 223,641 shares during the period. Institutional investors own 94.35% of the company’s stock.
In other Qorvo news, VP Steven E. Creviston sold 6,000 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $73.37, for a total transaction of $440,220.00. Following the sale, the vice president now owns 106,725 shares of the company’s stock, valued at $7,830,413.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Gina Harrison sold 5,000 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $73.41, for a total transaction of $367,050.00. Following the sale, the vice president now directly owns 17,230 shares in the company, valued at approximately $1,264,854.30. The disclosure for this sale can be found here. Insiders have sold 67,080 shares of company stock worth $4,788,693 in the last ninety days. Insiders own 0.91% of the company’s stock.
Qorvo, Inc. (NASDAQ:QRVO) opened at 69.68 on Friday. Qorvo, Inc. has a 12-month low of $48.28 and a 12-month high of $79.34. The firm’s market cap is $8.87 billion. The firm has a 50-day moving average price of $72.07 and a 200 day moving average price of $70.76.
Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.07. The business had revenue of $640.80 million for the quarter, compared to analysts’ expectations of $632.18 million. Qorvo had a negative net margin of 1.40% and a positive return on equity of 10.10%. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.08 earnings per share. Equities research analysts forecast that Qorvo, Inc. will post $5.52 EPS for the current year.
Several analysts recently weighed in on the company. KeyCorp restated a “hold” rating on shares of Qorvo in a research note on Wednesday, October 11th. Mizuho restated a “hold” rating and set a $70.00 target price on shares of Qorvo in a research note on Monday, October 9th. Cowen and Company restated a “hold” rating and set a $85.00 target price on shares of Qorvo in a research note on Sunday, September 17th. Needham & Company LLC restated a “buy” rating and set a $86.00 target price on shares of Qorvo in a research note on Sunday, September 17th. Finally, Craig Hallum restated a “buy” rating on shares of Qorvo in a research note on Wednesday, September 13th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $73.45.
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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