Qorvo Inc (QRVO) Stake Boosted by Twin Tree Management LP

Qorvo Inc (QRVO) Stake Boosted by Twin Tree Management LP

Other large investors have also modified their holdings of the company. Cavalier Investments LLC increased its stake in shares of Qorvo by 1.1% in the fourth quarter. Cavalier Investments LLC now owns 5,562 shares of the semiconductor company’s stock worth $293,000 after buying an additional 63 shares in the last quarter. Comerica Bank increased its stake in shares of Qorvo by 0.3% in the first quarter. Comerica Bank now owns 30,858 shares of the semiconductor company’s stock worth $2,195,000 after buying an additional 91 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of Qorvo by 4.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,422 shares of the semiconductor company’s stock worth $219,000 after buying an additional 155 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Qorvo by 1.0% in the first quarter. Advisors Asset Management Inc. now owns 17,520 shares of the semiconductor company’s stock worth $1,201,000 after buying an additional 169 shares in the last quarter. Finally, M&T Bank Corp increased its stake in shares of Qorvo by 2.6% in the first quarter. M&T Bank Corp now owns 7,674 shares of the semiconductor company’s stock worth $526,000 after buying an additional 194 shares in the last quarter. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Twin Tree Management LP raised its position in shares of Qorvo Inc (NASDAQ:QRVO) by 161.1% during the first quarter, Holdings Channel reports. The institutional investor owned 22,925 shares of the semiconductor company’s stock after buying an additional 14,145 shares during the period. Twin Tree Management LP’s holdings in Qorvo were worth $1,572,000 as of its most recent filing with the SEC.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Wednesday, May 3rd. The semiconductor company reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. Qorvo had a negative net margin of 3.22% and a positive return on equity of 10.77%. The company had revenue of $643 million during the quarter, compared to analyst estimates of $632.12 million. During the same period in the previous year, the business earned $1.04 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year.

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Qorvo in a report on Saturday, April 1st. Benchmark Co. assumed coverage on Qorvo in a report on Tuesday, April 25th. They issued a “buy” rating on the stock. MKM Partners reaffirmed a “buy” rating and issued a $90.00 target price (up previously from $78.00) on shares of Qorvo in a report on Tuesday. Barclays PLC reaffirmed a “hold” rating and issued a $70.00 target price on shares of Qorvo in a report on Monday, May 15th. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $85.00 target price (up previously from $74.00) on shares of Qorvo in a report on Friday, May 26th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $68.29.

In other Qorvo news, VP James L. Klein sold 2,600 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $65.81, for a total transaction of $171,106.00. Following the completion of the sale, the vice president now directly owns 36,808 shares in the company, valued at $2,422,334.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Daniel A. Dileo sold 1,000 shares of the company’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $66.59, for a total transaction of $66,590.00. Following the sale, the director now owns 23,020 shares of the company’s stock, valued at $1,532,901.80. The disclosure for this sale can be found here. Insiders sold 71,847 shares of company stock valued at $5,186,751 over the last quarter. 1.14% of the stock is owned by company insiders.

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).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:QRVO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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