46 hedge funds buy Qorvo, Inc. (QRVO) for the first time

Qorvo, Inc. (NASDAQ:QRVO) has made a 16.36% comeback from a 12-month low price of $54.74. It was seen 2.96% higher, changing the price to $63.69, when the closing bell rang on 01/11/2019. At recent session, the prices were hovering between $61.48 and $64.52. This company shares are 10.66% off its target price of $70.48 and the current market capitalization stands at $8B. The recent change has given its price a -0.17% deficit over SMA 50 and -26.66% deficit over its 52-week high. The stock witnessed 6.9% gains, -9.39% declines and -22.31% declines for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found QRVO’s volatility during a week at 3.57% and during a month it has been found around 4.24%.

Qorvo, Inc. (QRVO) Top Holders

Institutional investors currently hold around $7.53 billion or 96.6% in QRVO stock. Look at its top three institutional owners. Vanguard Group Inc owns $835.83 million in Qorvo, Inc., which represents roughly 10.45% of the company’s market cap and approximately 11.1% of the institutional ownership. Similar statistics are true for the second largest owner, Capital Research Global Investors, which owns 11,774,473 shares of the stock are valued at $749.92 million. The third largest holder is Baupost Group Llc/Ma, which currently holds $700.59 million worth of this stock and that ownership represents nearly 8.76% of its market capitalization.

Qorvo, Inc. 13F Filings

At the end of September reporting period, 178 institutional holders increased their position in Qorvo, Inc. (NASDAQ:QRVO) by some 8,913,035 shares, 214 decreased positions by 9,580,795 and 87 held positions by 99,765,503. That puts total institutional holdings at 118,259,333 shares, according to SEC filings. The stock grabbed 46 new institutional investments totaling 3,736,166 shares while 51 institutional investors sold out their entire positions totaling 1,717,121 shares.

Qorvo, Inc. (NASDAQ:QRVO) Insider Trades

Multiple company employees have indulged in significant insider trading. Qorvo, Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that President and CEO Bruggeworth Robert A has sold 4,500 shares of Qorvo, Inc. (QRVO) in trading session dated Dec. 12, 2018. These shares are worth $273,645 and were traded at $60.81 each. The SEC filing shows that Bruggeworth Robert A performed a sale of 500 shares. The President and CEO disposed these shares by way of transaction on Dec. 10, 2018. The company’s shares were given away at $60.34 per share worth to an income of some $30,170 on account of Bruggeworth Robert A.

Director, Nelson Roderick, sold 1,262 common shares of Qorvo, Inc. (QRVO) in the open market. In a transaction dated Nov. 27, 2018, the shares were put up for sale at an average price of $64.8, raking in a sum of $81,778. After this sale, 2,347 common shares of QRVO are directly owned by the insider, with total stake valued at $149,480.

In the transaction dated Nov. 13, 2018, the great number of shares disposed came courtesy the President and CEO; Bruggeworth Robert A disposed a total of 6,500 shares at an average price of $63.91, amounting to approximately $415,415. The insider now directly owns 172,446 shares worth $10,983,086.

Qorvo, Inc. (QRVO) Analyst Guide

Several analysts have released their opinion on Qorvo, Inc. (NASDAQ:QRVO), with 2 analysts believing it is a strong buy. Whereas 12 of them predict the stock is a hold. Also, there are 8 buy, 1 sell and 0 strong sell ratings, collectively assigning a 2.52 average brokerage recommendation.