Daiwa Securities Group Inc. Buys 896 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Daiwa Securities Group Inc. increased its stake in Qorvo, Inc. (NASDAQ:QRVO) by 10.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,175 shares of the semiconductor company’s stock after acquiring an additional 896 shares during the period. Daiwa Securities Group Inc.’s holdings in Qorvo were worth $1,033,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Huntington National Bank raised its position in Qorvo by 8,090.0% during the 3rd quarter. Huntington National Bank now owns 819 shares of the semiconductor company’s stock valued at $78,000 after purchasing an additional 809 shares during the last quarter. BluePath Capital Management LLC bought a new position in Qorvo during the 3rd quarter valued at approximately $133,000. Allworth Financial LP raised its position in Qorvo by 16.7% during the 3rd quarter. Allworth Financial LP now owns 1,416 shares of the semiconductor company’s stock valued at $135,000 after purchasing an additional 203 shares during the last quarter. Wahed Invest LLC raised its position in Qorvo by 7.5% during the 3rd quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company’s stock valued at $147,000 after purchasing an additional 108 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new position in Qorvo during the 3rd quarter valued at approximately $203,000. Institutional investors own 88.57% of the company’s stock.

Analyst Upgrades and Downgrades

QRVO has been the subject of a number of recent analyst reports. Craig Hallum upped their price target on Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Rosenblatt Securities upped their target price on Qorvo from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. The Goldman Sachs Group upped their target price on Qorvo from $104.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Piper Sandler reduced their target price on Qorvo from $120.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, February 1st. Finally, StockNews.com downgraded Qorvo from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $111.53.

Qorvo Stock Performance

Qorvo stock opened at $112.15 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.33 and a current ratio of 1.90. The stock’s 50 day moving average is $113.53 and its 200 day moving average is $104.79. Qorvo, Inc. has a twelve month low of $80.62 and a twelve month high of $121.65.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.42 by $0.47. Qorvo had a positive return on equity of 10.41% and a negative net margin of 6.11%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1 billion. As a group, sell-side analysts predict that Qorvo, Inc. will post 4.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Qorvo

In other Qorvo news, SVP Paul J. Fego sold 3,027 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $345,078.00. Following the sale, the senior vice president now directly owns 29,705 shares in the company, valued at approximately $3,386,370. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Gina Harrison sold 354 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $40,356.00. Following the transaction, the vice president now directly owns 18,442 shares of the company’s stock, valued at approximately $2,102,388. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Paul J. Fego sold 3,027 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $345,078.00. Following the transaction, the senior vice president now directly owns 29,705 shares in the company, valued at $3,386,370. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,381 shares of company stock worth $745,434. Insiders own 0.43% of the company’s stock.

Qorvo 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.