American Century Companies Inc. acquired a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,855 shares of the semiconductor company’s stock, valued at approximately $814,000.

Several other institutional investors have also recently added to or reduced their stakes in QRVO. Federated Investors Inc. PA increased its stake in shares of Qorvo by 4.0% during the 2nd quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 90 shares during the last quarter. NEXT Financial Group Inc increased its stake in shares of Qorvo by 2.1% during the 2nd quarter. NEXT Financial Group Inc now owns 2,370 shares of the semiconductor company’s stock worth $150,000 after purchasing an additional 49 shares during the last quarter. Global X Management Co. LLC increased its stake in shares of Qorvo by 400.9% during the 2nd quarter. Global X Management Co. LLC now owns 2,795 shares of the semiconductor company’s stock worth $177,000 after purchasing an additional 2,237 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in shares of Qorvo by 180.0% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,800 shares of the semiconductor company’s stock worth $192,000 after purchasing an additional 1,800 shares during the last quarter. Finally, US Bancorp DE increased its stake in shares of Qorvo by 139.8% during the 2nd quarter. US Bancorp DE now owns 3,046 shares of the semiconductor company’s stock worth $193,000 after purchasing an additional 1,776 shares during the last quarter. Institutional investors own 94.34% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece of content on another domain, it was stolen and republished in violation of international trademark and copyright laws. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/09/18/12855-shares-in-qorvo-inc-qrvo-acquired-by-american-century-companies-inc.html.

In other news, insider Robert A. Bruggeworth sold 27,839 shares of the business’s stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $65.03, for a total value of $1,810,370.17. Following the completion of the sale, the insider now directly owns 217,042 shares in the company, valued at approximately $14,114,241.26. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP James L. Klein sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $63.49, for a total transaction of $165,074.00. Following the completion of the sale, the vice president now owns 40,058 shares of the company’s stock, valued at $2,543,282.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,919 shares of company stock valued at $5,379,553. 0.91% of the stock is currently owned by company insiders.

Several research analysts have recently weighed in on the stock. MKM Partners restated a “buy” rating and set a $90.00 price objective (up from $78.00) on shares of Qorvo in a research note on Tuesday, May 30th. Nomura assumed coverage on shares of Qorvo in a research note on Tuesday, September 5th. They set a “neutral” rating and a $75.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $86.00 price objective on shares of Qorvo in a research note on Sunday. Cowen and Company restated a “hold” rating and set a $85.00 price objective on shares of Qorvo in a research note on Sunday. Finally, BMO Capital Markets restated a “hold” rating and set a $63.00 price objective on shares of Qorvo in a research note on Monday, June 12th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the company. Qorvo has an average rating of “Hold” and a consensus target price of $73.45.

Qorvo, Inc. (QRVO) opened at 75.49 on Monday. Qorvo, Inc. has a 52 week low of $48.28 and a 52 week high of $79.34. The company’s market cap is $9.61 billion. The company has a 50-day moving average of $58.03 and a 200 day moving average of $61.14.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.07. Qorvo had a negative net margin of 1.40% and a positive return on equity of 10.10%. The business had revenue of $640.80 million during the quarter, compared to analyst estimates of $632.18 million. During the same period in the previous year, the business posted $1.08 earnings per share. Qorvo’s revenue for the quarter was down 8.3% on a year-over-year basis. On average, equities analysts forecast that Qorvo, Inc. will post $5.54 EPS for the current fiscal year.

About Qorvo

Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).

Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

Receive News & Stock Ratings for Qorvo Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qorvo Inc. and related stocks with our FREE daily email newsletter.