Caxton Associates LP Makes New $22.52 Million Investment in Qorvo, Inc. (NASDAQ:QRVO)

Caxton Associates LP bought a new position in shares of Qorvo, Inc. (NASDAQ:QRVOFree Report) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 200,000 shares of the semiconductor company’s stock, valued at approximately $22,522,000. Qorvo comprises about 1.2% of Caxton Associates LP’s holdings, making the stock its 21st largest holding.

Several other hedge funds have also added to or reduced their stakes in QRVO. Huntington National Bank grew its holdings in Qorvo by 8,090.0% during the 3rd quarter. Huntington National Bank now owns 819 shares of the semiconductor company’s stock worth $78,000 after acquiring an additional 809 shares during the period. GAMMA Investing LLC bought a new stake in shares of Qorvo in the fourth quarter worth about $104,000. Quadrant Capital Group LLC lifted its holdings in shares of Qorvo by 18.7% during the 4th quarter. Quadrant Capital Group LLC now owns 951 shares of the semiconductor company’s stock valued at $107,000 after purchasing an additional 150 shares in the last quarter. Wahed Invest LLC raised its holdings in Qorvo by 7.5% during the 3rd quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company’s stock worth $147,000 after buying an additional 108 shares during the period. Finally, William Blair Investment Management LLC bought a new stake in shares of Qorvo during the third quarter worth $203,000. Institutional investors own 88.57% of the company’s stock.

Qorvo Stock Performance

QRVO traded up $1.38 during trading on Tuesday, hitting $103.74. The stock had a trading volume of 811,427 shares, compared to its average volume of 1,308,006. 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 has a market cap of $9.92 billion, a price-to-earnings ratio of -140.22, a P/E/G ratio of 0.96 and a beta of 1.44. The company has a 50 day moving average price of $104.51 and a 200-day moving average price of $107.31. Qorvo, Inc. has a one year low of $80.62 and a one year high of $121.65.

Qorvo (NASDAQ:QRVOGet Free Report) last announced its earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. Qorvo had a negative net margin of 1.86% and a positive return on equity of 13.43%. The company had revenue of $941.00 million during the quarter, compared to analysts’ expectations of $927.24 million. During the same quarter in the previous year, the business posted $0.11 earnings per share. Qorvo’s quarterly revenue was up 48.7% on a year-over-year basis. As a group, research analysts predict that Qorvo, Inc. will post 5.16 EPS for the current year.

Insiders Place Their Bets

In other Qorvo news, Director John R. Harding sold 941 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $97.36, for a total transaction of $91,615.76. Following the transaction, the director now owns 6,950 shares in the company, valued at approximately $676,652. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Robert A. Bruggeworth sold 22,299 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $99.31, for a total value of $2,214,513.69. Following the completion of the transaction, the chief executive officer now directly owns 154,714 shares in the company, valued at approximately $15,364,647.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John R. Harding sold 941 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $97.36, for a total transaction of $91,615.76. Following the sale, the director now owns 6,950 shares in the company, valued at approximately $676,652. The disclosure for this sale can be found here. Insiders have sold a total of 45,372 shares of company stock worth $4,517,858 in the last quarter. Corporate insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price target on Qorvo from $105.00 to $100.00 and set an “underweight” rating on the stock in a research note on Thursday, May 2nd. StockNews.com cut Qorvo from a “buy” rating to a “hold” rating in a research note 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 report on Thursday, May 2nd. Susquehanna cut their price target on shares of Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Finally, Needham & Company LLC dropped their target price on shares of Qorvo from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $110.83.

Read Our Latest Stock Report on Qorvo

Qorvo Profile

(Free Report)

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.

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Want to see what other hedge funds are holding QRVO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qorvo, Inc. (NASDAQ:QRVOFree Report).

Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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