MML Investors Services LLC Decreases Stake in Qorvo, Inc. (NASDAQ:QRVO)

MML Investors Services LLC reduced its stake in Qorvo, Inc. (NASDAQ:QRVO – Get Rating) by 2.0% during the third quarter, Holdings Channel.com reports. The firm owned 7,683 shares of the semiconductor company’s stock after selling 155 shares during the period. MML Investors Services LLC’s holdings in Qorvo were worth $610,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Colony Group LLC increased its stake in Qorvo by 7.1% in the 2nd quarter. Colony Group LLC now owns 14,552 shares of the semiconductor company’s stock worth $1,373,000 after purchasing an additional 965 shares during the period. Brinker Capital Investments LLC increased its stake in shares of Qorvo by 9.9% during the third quarter. Brinker Capital Investments LLC now owns 29,811 shares of the semiconductor company’s stock valued at $2,367,000 after buying an additional 2,687 shares during the period. AIA Group Ltd increased its stake in shares of Qorvo by 33.4% during the second quarter. AIA Group Ltd now owns 2,291 shares of the semiconductor company’s stock valued at $216,000 after buying an additional 573 shares during the period. Occudo Quantitative Strategies LP increased its stake in shares of Qorvo by 130.6% during the second quarter. Occudo Quantitative Strategies LP now owns 66,013 shares of the semiconductor company’s stock valued at $6,226,000 after buying an additional 37,391 shares during the period. Finally, Xponance Inc. increased its stake in shares of Qorvo by 13.5% during the third quarter. Xponance Inc. now owns 11,730 shares of the semiconductor company’s stock valued at $931,000 after buying an additional 1,395 shares during the period. 86.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Qorvo news, VP Gina Harrison sold 3,559 shares of the company’s stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $104.00, for a total transaction of $370,136.00. Following the transaction, the vice president now directly owns 16,257 shares in the company, valued at $1,690,728. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.45% of the stock is owned by insiders.

Qorvo Stock Performance

Shares of QRVO stock opened at $100.75 on Tuesday. The stock has a market cap of $10.06 billion, a PE ratio of 23.65, a price-to-earnings-growth ratio of 3.23 and a beta of 1.48. The business has a 50-day simple moving average of $101.33 and a 200-day simple moving average of $94.08. The company has a quick ratio of 2.28, a current ratio of 3.68 and a debt-to-equity ratio of 0.49. Qorvo, Inc. has a 52-week low of $75.38 and a 52-week high of $133.51.

Qorvo (NASDAQ:QRVO – Get Rating) last posted its quarterly earnings data on Wednesday, February 1st. The semiconductor company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.63 by $0.12. The company had revenue of $743.30 million during the quarter, compared to analyst estimates of $726.33 million. Qorvo had a return on equity of 19.41% and a net margin of 11.06%. Qorvo’s quarterly revenue was down 33.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.81 EPS. On average, equities analysts expect that Qorvo, Inc. will post 4.91 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup boosted their target price on Qorvo from $94.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, February 3rd. Credit Suisse Group began coverage on Qorvo in a report on Tuesday, November 15th. They issued an “outperform” rating and a $120.00 target price on the stock. Craig Hallum upped their price target on Qorvo from $120.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, February 2nd. Mizuho upped their price objective on Qorvo from $93.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, February 2nd. Finally, Barclays upped their price target on Qorvo from $85.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Monday, January 23rd. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Qorvo presently has a consensus rating of “Hold” and an average price target of $109.57.

Qorvo Company Profile

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Qorvo, Inc engages in the provision of development and commercialization of technologies and products for wireless and wired connectivity. It operates through the following reportable segments: Mobile Products and Infrastructure & Defense Products. The Mobile Products segment is involved in supplying cellular, UWB, and Wi-Fi solutions for applications, including smartphones, wearables, laptops, tablets, and Internet of things.