Bank of Nova Scotia Grows Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Bank of Nova Scotia boosted its holdings in shares of Qorvo, Inc. (NASDAQ:QRVOFree Report) by 207.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 28,016 shares of the semiconductor company’s stock after purchasing an additional 18,896 shares during the period. Bank of Nova Scotia’s holdings in Qorvo were worth $3,155,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Zhang Financial LLC boosted its stake in shares of Qorvo by 2.7% during the fourth quarter. Zhang Financial LLC now owns 3,852 shares of the semiconductor company’s stock worth $434,000 after buying an additional 102 shares during the period. Wahed Invest LLC grew its stake in shares of Qorvo by 7.5% in 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. Quadrant Capital Group LLC increased its holdings in shares of Qorvo by 18.7% in the fourth quarter. Quadrant Capital Group LLC now owns 951 shares of the semiconductor company’s stock valued at $107,000 after purchasing an additional 150 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Qorvo by 8.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,467 shares of the semiconductor company’s stock valued at $278,000 after purchasing an additional 200 shares during the period. Finally, Cerity Partners LLC raised its stake in shares of Qorvo by 7.0% during the fourth quarter. Cerity Partners LLC now owns 3,444 shares of the semiconductor company’s stock worth $388,000 after purchasing an additional 226 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on QRVO. StockNews.com raised shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Thursday, May 30th. Barclays reduced their price objective on shares of Qorvo from $110.00 to $100.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. JPMorgan Chase & Co. dropped their target price on Qorvo from $105.00 to $100.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. Susquehanna reduced their price target on Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Finally, Needham & Company LLC decreased their price target on Qorvo from $125.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Qorvo has a consensus rating of “Hold” and a consensus price target of $110.83.

Check Out Our Latest Research Report on Qorvo

Insider Activity at Qorvo

In related news, CEO Robert A. Bruggeworth sold 22,299 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $99.31, for a total value of $2,214,513.69. Following the completion of the transaction, the chief executive officer now owns 154,714 shares of the company’s stock, valued at approximately $15,364,647.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Robert A. Bruggeworth sold 4,721 shares of Qorvo stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $100.00, for a total value of $472,100.00. Following the completion of the sale, the chief executive officer now owns 205,440 shares of the company’s stock, valued at $20,544,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert A. Bruggeworth sold 22,299 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total value of $2,214,513.69. Following the transaction, the chief executive officer now owns 154,714 shares in the company, valued at $15,364,647.34. The disclosure for this sale can be found here. Insiders have sold a total of 30,093 shares of company stock valued at $2,989,958 over the last quarter. Insiders own 0.43% of the company’s stock.

Qorvo Trading Up 2.0 %

Shares of QRVO opened at $99.64 on Thursday. Qorvo, Inc. has a 12-month low of $80.62 and a 12-month high of $121.65. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.41 and a current ratio of 1.99. The company has a 50-day moving average of $105.65 and a two-hundred day moving average of $107.12.

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

Qorvo Profile

(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.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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