National Asset Management Inc. Reduces Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

National Asset Management Inc. lowered its position in shares of Qorvo, Inc. (NASDAQ:QRVOGet Rating) by 27.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,888 shares of the semiconductor company’s stock after selling 701 shares during the period. National Asset Management Inc.’s holdings in Qorvo were worth $235,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in QRVO. Standard Family Office LLC purchased a new stake in shares of Qorvo in the 4th quarter worth about $25,000. Johnson Financial Group Inc. purchased a new stake in shares of Qorvo in the 4th quarter worth about $26,000. AdvisorNet Financial Inc lifted its position in shares of Qorvo by 211.3% in the 1st quarter. AdvisorNet Financial Inc now owns 302 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 205 shares during the period. Clearstead Advisors LLC lifted its position in shares of Qorvo by 66.7% in the 4th quarter. Clearstead Advisors LLC now owns 250 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 100 shares during the period. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Qorvo in the 4th quarter worth about $42,000. Hedge funds and other institutional investors own 85.87% of the company’s stock.

Qorvo Stock Performance

Shares of QRVO stock opened at $104.07 on Monday. The company has a 50 day moving average price of $101.48 and a 200-day moving average price of $116.33. Qorvo, Inc. has a 52 week low of $90.16 and a 52 week high of $201.46. The firm has a market capitalization of $10.79 billion, a PE ratio of 11.25, a P/E/G ratio of 1.08 and a beta of 1.36. The company has a quick ratio of 2.51, a current ratio of 3.63 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVOGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The semiconductor company reported $3.03 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.32. Qorvo had a net margin of 22.24% and a return on equity of 28.07%. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the business posted $2.59 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, equities research analysts expect that Qorvo, Inc. will post 9.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on QRVO shares. Wells Fargo & Company dropped their target price on shares of Qorvo from $175.00 to $130.00 and set an “overweight” rating for the company in a research report on Monday, July 11th. Raymond James lowered their price target on shares of Qorvo from $180.00 to $155.00 in a research report on Thursday, May 5th. Piper Sandler lowered their price target on shares of Qorvo from $190.00 to $135.00 in a research report on Thursday, May 5th. Cowen cut shares of Qorvo from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $150.00 to $108.00 in a research report on Monday, July 11th. Finally, StockNews.com cut shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Qorvo presently has a consensus rating of “Hold” and a consensus target price of $141.19.

Insider Transactions at Qorvo

In other news, Director Jeffery R. Gardner sold 5,000 shares of Qorvo stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $108.68, for a total value of $543,400.00. Following the completion of the sale, the director now directly owns 32,793 shares in the company, valued at $3,563,943.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Jeffery R. Gardner sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $108.68, for a total transaction of $543,400.00. Following the completion of the sale, the director now directly owns 32,793 shares in the company, valued at $3,563,943.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Roderick Nelson sold 4,761 shares of the business’s stock in a transaction that occurred on Thursday, June 16th. The shares were sold at an average price of $95.26, for a total transaction of $453,532.86. Following the sale, the director now owns 5,595 shares of the company’s stock, valued at $532,979.70. The disclosure for this sale can be found here. Insiders sold 20,070 shares of company stock worth $2,055,769 over the last three months. 0.45% of the stock is currently owned by company insiders.

About Qorvo

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Qorvo, Inc develops and commercializes technologies and products for wireless, wired, and power markets worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. It offers mobile devices, such as smartphones, wearables, laptops, tablets and other devices; radio frequency power management integrated circuits, ultra-wideband (UWB) system-on-a-chip (SoC) and system-in-package (SiP) solutions, MEMS-based sensors, antenna tuners, and antennaplexers, as well as discrete multiplexers, duplexers, filters, and switches; and cellular base stations include switch-low noise amplifier (LNA) modules, variable gain amplifiers, integrated power amplifier (PA) Doherty modules, discrete LNAs, and high power GaN amplifiers.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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