Dynamic Technology Lab Private Ltd Has $751,000 Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Dynamic Technology Lab Private Ltd cut its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 77.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,665 shares of the semiconductor company’s stock after selling 22,335 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Qorvo were worth $751,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in Qorvo by 15.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 11,282 shares of the semiconductor company’s stock worth $1,077,000 after buying an additional 1,511 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Qorvo by 1.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 7,669 shares of the semiconductor company’s stock valued at $732,000 after purchasing an additional 116 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Qorvo by 6.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,279 shares of the semiconductor company’s stock valued at $790,000 after purchasing an additional 474 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of Qorvo by 1.4% during the 3rd quarter. California Public Employees Retirement System now owns 201,100 shares of the semiconductor company’s stock valued at $19,199,000 after purchasing an additional 2,850 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Qorvo by 14.6% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,393 shares of the semiconductor company’s stock valued at $228,000 after purchasing an additional 304 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

QRVO has been the topic of several recent analyst reports. The Goldman Sachs Group cut their price objective on Qorvo from $117.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. StockNews.com cut Qorvo from a “buy” rating to a “hold” rating in a report on Saturday, May 11th. Barclays dropped their target price on Qorvo from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Craig Hallum lifted their target price on Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, Raymond James lifted their target price on Qorvo from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $110.83.

Qorvo Stock Up 1.6 %

QRVO stock opened at $99.55 on Thursday. The company has a current ratio of 1.99, a quick ratio of 1.41 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $9.52 billion, a PE ratio of -136.37, a PEG ratio of 0.95 and a beta of 1.53. Qorvo, Inc. has a 1-year low of $80.62 and a 1-year high of $121.65. The business’s 50 day simple moving average is $108.42 and its 200 day simple moving average is $106.60.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.18. The business had revenue of $941.00 million during the quarter, compared to the consensus estimate of $927.24 million. Qorvo had a positive return on equity of 13.43% and a negative net margin of 1.86%. The firm’s quarterly revenue was up 48.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.11 EPS. As a group, research analysts anticipate that Qorvo, Inc. will post 5.16 EPS for the current year.

Insider Activity at Qorvo

In related news, SVP Steven E. Creviston sold 3,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $120.00, for a total value of $360,000.00. Following the completion of the sale, the senior vice president now directly owns 77,552 shares in the company, valued at approximately $9,306,240. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Steven E. Creviston sold 3,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the sale, the senior vice president now directly owns 77,552 shares in the company, valued at approximately $9,306,240. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John R. Harding sold 941 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $97.36, for a total value of $91,615.76. Following the sale, the director now owns 6,950 shares of the company’s stock, valued at $676,652. The disclosure for this sale can be found here. Insiders sold 28,372 shares of company stock worth $2,877,858 in the last ninety days. 0.43% of the stock is owned by company insiders.

Qorvo Company Profile

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.