Alyeska Investment Group L.P. bought a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,676,658 shares of the semiconductor company’s stock, valued at approximately $118,506,000. Qorvo comprises about 1.0% of Alyeska Investment Group L.P.’s holdings, making the stock its 19th biggest position. Alyeska Investment Group L.P. owned about 1.32% of Qorvo at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Penserra Capital Management LLC acquired a new stake in Qorvo during the 3rd quarter valued at $130,000. Federated Investors Inc. PA grew its holdings in Qorvo by 4.0% during the 2nd quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock valued at $147,000 after buying an additional 90 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Qorvo by 79.9% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,252 shares of the semiconductor company’s stock valued at $159,000 after buying an additional 1,000 shares during the last quarter. Advisor Group Inc. grew its holdings in Qorvo by 5.1% during the 2nd quarter. Advisor Group Inc. now owns 2,584 shares of the semiconductor company’s stock valued at $164,000 after buying an additional 126 shares during the last quarter. Finally, Global X Management Co. LLC grew its holdings in Qorvo by 400.9% during the 2nd quarter. Global X Management Co. LLC now owns 2,795 shares of the semiconductor company’s stock valued at $177,000 after buying an additional 2,237 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Qorvo, Inc. (NASDAQ QRVO) opened at $68.72 on Friday. Qorvo, Inc. has a 52 week low of $52.05 and a 52 week high of $81.20. The firm has a market capitalization of $9,126.69, a price-to-earnings ratio of 17.94, a price-to-earnings-growth ratio of 1.21 and a beta of 1.02. The company has a current ratio of 3.80, a quick ratio of 2.71 and a debt-to-equity ratio of 0.20.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.52. Qorvo had a positive return on equity of 10.77% and a negative net margin of 0.59%. The company had revenue of $821.60 million for the quarter, compared to analyst estimates of $810.47 million. During the same quarter in the prior year, the company posted $1.29 EPS. The business’s revenue for the quarter was down 5.0% compared to the same quarter last year. sell-side analysts expect that Qorvo, Inc. will post 4.74 earnings per share for the current year.

A number of brokerages have commented on QRVO. BidaskClub upgraded Qorvo from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Drexel Hamilton reiterated a “buy” rating and set a $95.00 target price on shares of Qorvo in a report on Thursday, November 2nd. Craig Hallum cut Qorvo from a “buy” rating to a “hold” rating and lowered their target price for the company from $78.00 to $71.00 in a report on Thursday, November 2nd. Needham & Company LLC reiterated a “buy” rating and set a $84.00 target price on shares of Qorvo in a report on Thursday, November 2nd. Finally, KeyCorp reiterated a “hold” rating on shares of Qorvo in a report on Wednesday, October 11th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $76.74.

In related news, VP James L. Klein sold 2,600 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $70.84, for a total value of $184,184.00. Following the transaction, the vice president now directly owns 42,993 shares of the company’s stock, valued at approximately $3,045,624.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP James L. Klein sold 2,211 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $74.76, for a total value of $165,294.36. Following the completion of the transaction, the vice president now directly owns 42,604 shares in the company, valued at $3,185,075.04. The disclosure for this sale can be found here. Insiders sold a total of 58,836 shares of company stock worth $4,474,515 over the last ninety days. Corporate insiders own 0.91% of the company’s stock.

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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)

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