M&T Bank Corp Buys 1,170 Shares of Qorvo, Inc. (NASDAQ:QRVO)

M&T Bank Corp increased its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 18.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,365 shares of the semiconductor company’s stock after acquiring an additional 1,170 shares during the quarter. M&T Bank Corp’s holdings in Qorvo were worth $534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Ameriprise Financial Inc. raised its stake in Qorvo by 102.0% in the fourth quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company’s stock worth $251,577,000 after buying an additional 1,816,811 shares in the last quarter. Norges Bank bought a new position in shares of Qorvo during the fourth quarter valued at approximately $71,825,000. Vulcan Value Partners LLC increased its stake in shares of Qorvo by 53.7% during the fourth quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company’s stock valued at $180,487,000 after purchasing an additional 902,353 shares in the last quarter. Voloridge Investment Management LLC bought a new position in shares of Qorvo during the fourth quarter valued at approximately $29,650,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Qorvo by 22.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,419,698 shares of the semiconductor company’s stock valued at $99,280,000 after purchasing an additional 264,167 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

QRVO has been the topic of a number of recent analyst reports. Mizuho set a $84.00 price target on shares of Qorvo and gave the company a “neutral” rating in a report on Tuesday, July 1st. The Goldman Sachs Group initiated coverage on shares of Qorvo in a report on Thursday, July 10th. They set a “neutral” rating and a $90.00 price target on the stock. Needham & Company LLC cut their price target on shares of Qorvo from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Wall Street Zen cut shares of Qorvo from a “buy” rating to a “hold” rating in a report on Saturday, June 7th. Finally, Stifel Nicolaus set a $75.00 price target on shares of Qorvo in a report on Monday, April 28th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Qorvo presently has an average rating of “Hold” and a consensus target price of $91.53.

Qorvo Stock Down 0.5%

QRVO stock opened at $87.03 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.77 and a quick ratio of 1.95. Qorvo, Inc. has a 1-year low of $49.46 and a 1-year high of $130.99. The firm has a fifty day moving average price of $80.69 and a two-hundred day moving average price of $74.83. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 150.05, a PEG ratio of 2.33 and a beta of 1.39.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.00 by $0.42. The business had revenue of $869.47 million during the quarter, compared to analyst estimates of $850.13 million. Qorvo had a net margin of 1.50% and a return on equity of 12.48%. The company’s quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 earnings per share. Research analysts predict that Qorvo, Inc. will post 4.09 EPS for the current year.

Insiders Place Their Bets

In other Qorvo news, Director John R. Harding sold 1,450 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total transaction of $101,630.50. Following the completion of the sale, the director directly owned 7,597 shares of the company’s stock, valued at approximately $532,473.73. This represents a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.41% 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.