Machina Capital S.A.S. Acquires New Stake in Qorvo, Inc. (NASDAQ:QRVO)

Machina Capital S.A.S. bought a new position in Qorvo, Inc. (NASDAQ:QRVO) during the 4th quarter, HoldingsChannel reports. The fund bought 4,686 shares of the semiconductor company’s stock, valued at approximately $528,000.

Several other institutional investors also recently modified their holdings of QRVO. Barclays PLC boosted its stake in Qorvo by 646.2% in the 3rd quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company’s stock worth $369,091,000 after purchasing an additional 3,347,972 shares during the period. UBS Group AG raised its stake in Qorvo by 491.9% in the third quarter. UBS Group AG now owns 1,267,273 shares of the semiconductor company’s stock worth $120,987,000 after buying an additional 1,053,157 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Qorvo by 268.3% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 537,541 shares of the semiconductor company’s stock worth $51,319,000 after purchasing an additional 391,570 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Qorvo by 18.9% in the 3rd quarter. Invesco Ltd. now owns 1,989,776 shares of the semiconductor company’s stock valued at $189,964,000 after buying an additional 316,328 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Qorvo by 201.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 405,143 shares of the semiconductor company’s stock worth $45,623,000 after purchasing an additional 270,745 shares during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Stock Performance

Shares of NASDAQ QRVO traded up $0.26 during trading on Monday, hitting $96.21. 2,052,538 shares of the company were exchanged, compared to its average volume of 1,354,495. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.99 and a quick ratio of 1.41. The firm’s fifty day moving average price is $113.15 and its 200 day moving average price is $105.78. Qorvo, Inc. has a 1 year low of $80.62 and a 1 year high of $121.65.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.21 by $0.18. Qorvo had a positive return on equity of 13.43% and a negative net margin of 1.86%. The business had revenue of $941.00 million for the quarter, compared to analyst estimates of $927.24 million. During the same quarter in the previous year, the company earned $0.11 EPS. The company’s quarterly revenue was up 48.7% on a year-over-year basis. As a group, analysts anticipate that Qorvo, Inc. will post 6.69 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on QRVO. Needham & Company LLC cut their target price on Qorvo from $125.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday. Craig Hallum boosted their price objective on Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. The Goldman Sachs Group reduced their price target on shares of Qorvo from $117.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday. Barclays lowered their target price on shares of Qorvo from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, StockNews.com upgraded Qorvo from a “hold” rating to a “buy” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $110.83.

Insider Buying and Selling at Qorvo

In related news, VP Gina Harrison sold 354 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $40,356.00. Following the sale, the vice president now owns 18,442 shares of the company’s stock, valued at $2,102,388. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, VP Gina Harrison sold 354 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $40,356.00. Following the completion of the transaction, the vice president now directly owns 18,442 shares in the company, valued at $2,102,388. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Paul J. Fego sold 3,027 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $345,078.00. Following the completion of the transaction, the senior vice president now owns 29,705 shares in the company, valued at $3,386,370. The disclosure for this sale can be found here. Insiders have sold 6,381 shares of company stock valued at $745,434 over the last quarter. Corporate insiders own 0.43% of the company’s stock.

About Qorvo

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.