2 weeks Ago By Defense World Staff
Brandes Investment Partners LP lifted its position in shares of Qorvo, Inc. ( NASDAQ:QRVO – Free Report ) by 19.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission.
The fund owned 269,776 shares of the semiconductor company’s stock after buying an additional 43,108 shares during the quarter. Brandes Investment Partners LP owned approximately 0.28% of Qorvo worth $31,255,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Bessemer Group Inc. raised its holdings in shares of Qorvo by 1,361.
9% in the first quarter. Bessemer Group Inc. now owns 13,596 shares of the semiconductor company’s stock worth $1,562,000 after acquiring an additional 12,666 shares during the last quarter.
FIL Ltd raised its stake in Qorvo by 4.5% in the 4th quarter. FIL Ltd now owns 2,778,629 shares of the semiconductor company’s stock valued at $312,901,000 after purchasing an additional 120,213 shares during the last quarter.
Daiwa Securities Group Inc. lifted its holdings in Qorvo by 44.4% in the 1st quarter.
Daiwa Securities Group Inc. now owns 13,247 shares of the semiconductor company’s stock valued at $1,521,000 after purchasing an additional 4,072 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Qorvo by 23.
8% during the 1st quarter. Canada Pension Plan Investment Board now owns 370,200 shares of the semiconductor company’s stock worth $42,510,000 after purchasing an additional 71,200 shares during the last quarter. Finally, Leeward Investments LLC MA grew its holdings in shares of Qorvo by 50.
6% during the first quarter. Leeward Investments LLC MA now owns 154,346 shares of the semiconductor company’s stock worth $17,724,000 after buying an additional 51,850 shares in the last quarter. 88.
57% of the stock is owned by institutional investors and hedge funds. Insider Activity In other news, VP Gina Harrison sold 689 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $107.
67, for a total transaction of $74,184.63. Following the completion of the sale, the vice president now directly owns 21,601 shares in the company, valued at $2,325,779.
67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink . Insiders own 0.
46% of the company’s stock. Qorvo Stock Down 1.3 % Qorvo ( NASDAQ:QRVO – Get Free Report ) last issued its earnings results on Tuesday, July 30th.
The semiconductor company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.
16. The company had revenue of $886.70 million during the quarter, compared to the consensus estimate of $851.
95 million. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.
66%. The company’s revenue was up 36.2% compared to the same quarter last year.
During the same quarter in the prior year, the business earned $0.03 earnings per share. Equities research analysts forecast that Qorvo, Inc.
will post 4.84 earnings per share for the current fiscal year. Wall Street Analyst Weigh In A number of analysts recently issued reports on QRVO shares.
TD Cowen upgraded shares of Qorvo to a “hold” rating in a research report on Monday, September 16th. Raymond James lifted their price objective on Qorvo from $115.00 to $135.
00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Piper Sandler reiterated a “neutral” rating and set a $120.00 target price (up from $105.
00) on shares of Qorvo in a research report on Wednesday, July 31st. Barclays lifted their price target on Qorvo from $100.00 to $125.
00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Finally, Needham & Company LLC increased their price objective on shares of Qorvo from $110.00 to $135.
00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.
com, the company currently has an average rating of “Hold” and a consensus price target of $121.00. Read Our Latest Stock Report on Qorvo About Qorvo ( Free Report ) 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. Recommended Stories Five stocks we like better than Qorvo Dividend Payout Ratio Calculator 3 Bargain Stocks Under $20 With Major Growth Potential Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance Top 5 ETFs to Own Now and Into 2025 What is a Secondary Public Offering? What Investors Need to Know Watch These 3 Former Short-Squeeze Stocks for a Big Rally Receive News & Ratings for Qorvo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qorvo and related companies with MarketBeat.
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