abrdn plc Buys 18,326 Shares of Qorvo, Inc. (NASDAQ:QRVO)

abrdn plc raised its stake in Qorvo, Inc. (NASDAQ:QRVO) by 49.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,064 shares of the semiconductor company’s stock after purchasing an additional 18,326 shares during the period. abrdn plc’s holdings in Qorvo were worth $6,201,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of QRVO. CWM LLC lifted its holdings in shares of Qorvo by 6.3% during the 3rd quarter. CWM LLC now owns 3,022 shares of the semiconductor company’s stock worth $288,000 after acquiring an additional 179 shares during the period. Czech National Bank lifted its holdings in shares of Qorvo by 44.7% during the 3rd quarter. Czech National Bank now owns 17,113 shares of the semiconductor company’s stock worth $1,634,000 after acquiring an additional 5,289 shares during the period. Kingswood Wealth Advisors LLC bought a new position in shares of Qorvo during the 3rd quarter worth about $1,011,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Qorvo by 7.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 242,836 shares of the semiconductor company’s stock worth $23,184,000 after acquiring an additional 17,370 shares during the period. Finally, Xponance Inc. lifted its holdings in shares of Qorvo by 1.7% during the 3rd quarter. Xponance Inc. now owns 14,159 shares of the semiconductor company’s stock worth $1,352,000 after acquiring an additional 240 shares during the period. 88.57% of the stock is owned by institutional investors.

Qorvo Stock Performance

Qorvo stock opened at $116.75 on Friday. The company’s 50 day simple moving average is $113.61 and its 200 day simple moving average is $105.06. Qorvo, Inc. has a fifty-two week low of $80.62 and a fifty-two week high of $121.65. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.90 and a quick ratio of 1.33.

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

Insider Buying and Selling

In related news, VP Gina Harrison sold 354 shares of Qorvo stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $40,356.00. Following the transaction, the vice president now 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 can be accessed through this hyperlink. In other Qorvo news, VP Gina Harrison sold 354 shares of Qorvo stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $40,356.00. Following the transaction, the vice president now owns 18,442 shares of the company’s stock, valued at $2,102,388. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Steven E. Creviston sold 3,000 shares of Qorvo stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the transaction, the senior vice president now directly owns 77,552 shares in the company, valued at approximately $9,306,240. The disclosure for this sale can be found here. Insiders have sold 6,381 shares of company stock valued at $745,434 in the last 90 days. 0.43% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on QRVO shares. JPMorgan Chase & Co. raised their price objective on shares of Qorvo from $95.00 to $105.00 and gave the stock an “underweight” rating in a report on Thursday, February 1st. Susquehanna reaffirmed a “neutral” rating and set a $100.00 price objective on shares of Qorvo in a report on Monday, April 8th. Raymond James lifted their price target on shares of Qorvo from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Rosenblatt Securities lifted their price target on shares of Qorvo from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, February 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $125.00 price target on shares of Qorvo in a report on Thursday, February 1st. Two research 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $111.53.

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.