Marshall Wace North America L.P. boosted its stake in shares of Qorvo Inc (NASDAQ:QRVO) by 574.2% in the third quarter, HoldingsChannel.com reports. The firm owned 209,034 shares of the semiconductor company’s stock after purchasing an additional 178,030 shares during the quarter. Marshall Wace North America L.P.’s holdings in Qorvo were worth $16,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. BlueMountain Capital Management LLC bought a new position in Qorvo during the second quarter worth $1,308,000. Dimensional Fund Advisors LP boosted its position in Qorvo by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,191,360 shares of the semiconductor company’s stock worth $95,517,000 after purchasing an additional 6,134 shares during the period. Systematic Financial Management LP boosted its position in Qorvo by 13.6% during the second quarter. Systematic Financial Management LP now owns 176,830 shares of the semiconductor company’s stock worth $14,176,000 after purchasing an additional 21,137 shares during the period. Aperio Group LLC boosted its position in Qorvo by 4.5% during the third quarter. Aperio Group LLC now owns 34,938 shares of the semiconductor company’s stock worth $2,686,000 after purchasing an additional 1,508 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its position in Qorvo by 10.5% during the second quarter. Nomura Asset Management Co. Ltd. now owns 21,074 shares of the semiconductor company’s stock worth $1,689,000 after purchasing an additional 2,002 shares during the period. 94.46% of the stock is owned by hedge funds and other institutional investors.

QRVO opened at $61.13 on Friday. Qorvo Inc has a twelve month low of $60.79 and a twelve month high of $86.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.50 and a quick ratio of 2.48. The stock has a market cap of $7.83 billion, a P/E ratio of 12.79, a PEG ratio of 1.07 and a beta of 0.88.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Wednesday, October 31st. The semiconductor company reported $1.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.13. Qorvo had a negative net margin of 1.41% and a positive return on equity of 13.65%. The business had revenue of $884.40 million during the quarter, compared to analysts’ expectations of $855.57 million. During the same quarter in the prior year, the business posted $1.52 earnings per share. Qorvo’s revenue was up 7.8% compared to the same quarter last year. As a group, analysts anticipate that Qorvo Inc will post 5.32 EPS for the current fiscal year.

A number of equities analysts have commented on the stock. Zacks Investment Research reaffirmed a “buy” rating and set a $88.00 price objective on shares of Qorvo in a research report on Wednesday, November 14th. BidaskClub raised shares of Qorvo from a “sell” rating to a “hold” rating in a research report on Wednesday, November 28th. Susquehanna Bancshares started coverage on shares of Qorvo in a research report on Friday. They issued a “neutral” rating and a $70.00 target price for the company. Loop Capital reduced their target price on shares of Qorvo to $85.00 and set a “buy” rating for the company in a research report on Wednesday, November 14th. Finally, Nomura set a $70.00 target price on shares of Qorvo and gave the company a “hold” rating in a research report on Wednesday, November 14th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $80.38.

In other Qorvo news, Director John R. Harding sold 3,000 shares of the business’s stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $70.61, for a total transaction of $211,830.00. Following the completion of the transaction, the director now owns 5,669 shares of the company’s stock, valued at $400,288.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert A. Bruggeworth sold 5,000 shares of the business’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $73.98, for a total value of $369,900.00. Following the transaction, the insider now directly owns 185,172 shares of the company’s stock, valued at approximately $13,699,024.56. The disclosure for this sale can be found here. Insiders have sold 32,449 shares of company stock valued at $2,295,575 in the last ninety days. 0.85% of the stock is currently owned by company insiders.

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Qorvo 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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