Fulton Bank N.A. Sells 168 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Fulton Bank N.A. lessened its stake in Qorvo, Inc. (NASDAQ:QRVOGet Rating) by 7.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,140 shares of the semiconductor company’s stock after selling 168 shares during the period. Fulton Bank N.A.’s holdings in Qorvo were worth $201,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in QRVO. Standard Family Office LLC bought a new stake in shares of Qorvo during the 4th quarter valued at about $25,000. Bellevue Asset Management LLC bought a new stake in shares of Qorvo during the 1st quarter valued at about $25,000. Johnson Financial Group Inc. bought a new stake in shares of Qorvo during the 4th quarter valued at about $26,000. J.W. Cole Advisors Inc. bought a new stake in shares of Qorvo during the 1st quarter valued at about $26,000. Finally, Parkside Financial Bank & Trust boosted its position in shares of Qorvo by 106.4% during the 1st quarter. Parkside Financial Bank & Trust now owns 225 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 116 shares in the last quarter. Institutional investors own 88.31% of the company’s stock.

Insider Buying and Selling at Qorvo

In other Qorvo news, VP Frank P. Stewart sold 1,224 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $100.27, for a total transaction of $122,730.48. Following the completion of the transaction, the vice president now directly owns 4,950 shares of the company’s stock, valued at $496,336.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Paul J. Fego sold 2,413 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $85.42, for a total value of $206,118.46. Following the completion of the transaction, the vice president now directly owns 31,666 shares of the company’s stock, valued at $2,704,909.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Frank P. Stewart sold 1,224 shares of the firm’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $100.27, for a total value of $122,730.48. Following the completion of the transaction, the vice president now directly owns 4,950 shares of the company’s stock, valued at $496,336.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,075 shares of company stock valued at $597,468. Company insiders own 0.45% of the company’s stock.

Qorvo Stock Performance

Shares of QRVO opened at $85.93 on Monday. The company has a current ratio of 3.30, a quick ratio of 2.12 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $8.87 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 1.89 and a beta of 1.38. The stock has a 50 day moving average of $99.23 and a 200 day moving average of $107.22. Qorvo, Inc. has a 12 month low of $83.90 and a 12 month high of $178.80.

Qorvo (NASDAQ:QRVOGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The semiconductor company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.05. Qorvo had a return on equity of 26.50% and a net margin of 17.87%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. As a group, sell-side analysts forecast that Qorvo, Inc. will post 7.03 earnings per share for the current year.

Analyst Ratings Changes

QRVO has been the topic of several research analyst reports. Cowen lowered Qorvo from an “outperform” rating to a “market perform” rating and cut their target price for the company from $150.00 to $108.00 in a research report on Monday, July 11th. Rosenblatt Securities dropped their price target on Qorvo from $135.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, August 4th. TheStreet downgraded Qorvo from a “b-” rating to a “c+” rating in a research note on Tuesday, May 24th. Wells Fargo & Company dropped their price target on Qorvo from $175.00 to $130.00 and set an “overweight” rating on the stock in a research note on Monday, July 11th. Finally, The Goldman Sachs Group dropped their price target on Qorvo from $126.00 to $107.00 in a research note on Friday, July 15th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Qorvo has an average rating of “Hold” and a consensus target price of $131.13.

Qorvo Company Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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