Robecosam AG Acquires 25,000 Shares of Qorvo, Inc. (QRVO)

Robecosam AG grew its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 17.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 165,000 shares of the semiconductor company’s stock after purchasing an additional 25,000 shares during the period. Robecosam AG owned about 0.13% of Qorvo worth $10,608,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Federated Investors Inc. PA raised its holdings in shares of Qorvo by 4.0% in the second quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock valued at $147,000 after purchasing an additional 90 shares during the last quarter. NEXT Financial Group Inc raised its holdings in shares of Qorvo by 2.1% in the second quarter. NEXT Financial Group Inc now owns 2,370 shares of the semiconductor company’s stock valued at $150,000 after purchasing an additional 49 shares during the last quarter. Advisor Group Inc. raised its holdings 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 valued at $164,000 after purchasing an additional 126 shares during the last quarter. Global X Management Co. LLC raised its holdings in shares of Qorvo by 400.9% in the second quarter. Global X Management Co. LLC now owns 2,795 shares of the semiconductor company’s stock valued at $177,000 after purchasing an additional 2,237 shares during the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. raised its holdings in shares of Qorvo by 180.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,800 shares of the semiconductor company’s stock valued at $192,000 after purchasing an additional 1,800 shares during the last quarter. Institutional investors own 94.34% of the company’s stock.

A number of analysts have recently issued reports on the stock. BidaskClub upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Raymond James Financial, Inc. assumed coverage on shares of Qorvo in a report on Friday, June 16th. They issued an “outperform” rating and a $87.00 price objective on the stock. Craig Hallum reiterated a “buy” rating on shares of Qorvo in a report on Wednesday, September 13th. Canaccord Genuity lifted their price objective on shares of Qorvo from $79.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Finally, KeyCorp reiterated a “sector perform” rating on shares of Qorvo in a report on Thursday, September 14th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the company’s stock. Qorvo currently has an average rating of “Hold” and an average price target of $73.45.

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Qorvo, Inc. (QRVO) traded up 0.03% during trading on Thursday, hitting $72.96. 392,647 shares of the company’s stock traded hands. The company’s market cap is $9.29 billion. The company’s 50 day moving average price is $71.92 and its 200 day moving average price is $70.63. Qorvo, Inc. has a 52-week low of $48.28 and a 52-week high of $79.34.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.07. Qorvo had a positive return on equity of 10.10% and a negative net margin of 1.40%. The firm had revenue of $640.80 million during the quarter, compared to analyst estimates of $632.18 million. During the same period last year, the firm posted $1.08 EPS. The business’s revenue was down 8.3% compared to the same quarter last year. Analysts expect that Qorvo, Inc. will post $5.53 earnings per share for the current year.

In other news, VP Steven E. Creviston sold 6,000 shares of the firm’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $66.94, for a total transaction of $401,640.00. Following the completion of the sale, the vice president now directly owns 114,733 shares of the company’s stock, valued at approximately $7,680,227.02. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Gina Harrison sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $73.41, for a total value of $367,050.00. Following the sale, the vice president now directly owns 17,230 shares of the company’s stock, valued at $1,264,854.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,080 shares of company stock valued at $4,395,363. Insiders own 0.91% of the company’s stock.

Qorvo 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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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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