Dynamic Technology Lab Private Ltd Makes New $2.51 Million Investment in Qorvo, Inc. (NASDAQ:QRVO)

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 24,262 shares of the semiconductor company’s stock, valued at approximately $2,507,000.

A number of other hedge funds have also recently modified their holdings of QRVO. O Shaughnessy Asset Management LLC lifted its position in Qorvo by 15.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,272 shares of the semiconductor company’s stock valued at $376,000 after buying an additional 443 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Qorvo by 23,191.0% in the 1st quarter. Lazard Asset Management LLC now owns 20,729 shares of the semiconductor company’s stock worth $2,380,000 after acquiring an additional 20,640 shares during the last quarter. Tidal Investments LLC boosted its position in shares of Qorvo by 302.9% during the 1st quarter. Tidal Investments LLC now owns 14,369 shares of the semiconductor company’s stock worth $1,649,000 after purchasing an additional 10,803 shares during the period. Comerica Bank increased its holdings in Qorvo by 13.3% in the 1st quarter. Comerica Bank now owns 17,363 shares of the semiconductor company’s stock valued at $1,994,000 after purchasing an additional 2,041 shares during the last quarter. Finally, LBP AM SA raised its position in Qorvo by 172.9% in the first quarter. LBP AM SA now owns 30,417 shares of the semiconductor company’s stock valued at $3,493,000 after purchasing an additional 19,271 shares during the period. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Insider Activity at Qorvo

In related 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 transaction, the vice president now owns 21,601 shares of the company’s stock, valued at $2,325,779.67. This trade represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.46% of the stock is owned by insiders.

Qorvo Price Performance

Qorvo stock opened at $69.25 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38. Qorvo, Inc. has a fifty-two week low of $64.98 and a fifty-two week high of $130.99. The stock has a 50-day simple moving average of $90.08 and a 200-day simple moving average of $103.14.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.99 earnings per share. As a group, research analysts forecast that Qorvo, Inc. will post 3.37 EPS for the current year.

Analysts Set New Price Targets

QRVO has been the subject of several recent research reports. TD Cowen lowered their price objective on shares of Qorvo from $125.00 to $85.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Loop Capital assumed coverage on Qorvo in a research note on Monday, November 11th. They issued a “hold” rating and a $73.00 price objective on the stock. Rosenblatt Securities lifted their target price on Qorvo from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Barclays cut their price target on Qorvo from $120.00 to $90.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 30th. Finally, StockNews.com cut Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $102.88.

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.