Commonwealth Equity Services LLC Has $950,000 Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Commonwealth Equity Services LLC decreased its position in shares of Qorvo, Inc. (NASDAQ:QRVO – Get Rating) by 4.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,486 shares of the semiconductor company’s stock after selling 513 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Qorvo were worth $950,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of QRVO. Martingale Asset Management L P lifted its stake in shares of Qorvo by 9.5% in the 3rd quarter. Martingale Asset Management L P now owns 12,740 shares of the semiconductor company’s stock valued at $1,012,000 after purchasing an additional 1,103 shares during the period. Ethic Inc. acquired a new position in shares of Qorvo in the 3rd quarter valued at $310,000. Parallel Advisors LLC lifted its stake in shares of Qorvo by 16.3% in the 4th quarter. Parallel Advisors LLC now owns 1,511 shares of the semiconductor company’s stock valued at $137,000 after purchasing an additional 212 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in shares of Qorvo by 6.7% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 71,095 shares of the semiconductor company’s stock valued at $5,646,000 after purchasing an additional 4,473 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Qorvo by 16.6% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 77,558 shares of the semiconductor company’s stock valued at $6,914,000 after purchasing an additional 11,050 shares during the period. Institutional investors and hedge funds own 86.47% of the company’s stock.

Qorvo Trading Up 1.1 %

Qorvo stock opened at $96.12 on Tuesday. Qorvo, Inc. has a 52 week low of $75.38 and a 52 week high of $114.59. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.22 and a current ratio of 3.65. The stock has a market capitalization of $9.60 billion, a P/E ratio of 104.48, a PEG ratio of 3.77 and a beta of 1.45. The stock has a 50-day simple moving average of $94.98 and a 200 day simple moving average of $97.32.

Qorvo (NASDAQ:QRVO – Get Rating) last posted its quarterly earnings results on Wednesday, May 3rd. The semiconductor company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.13. Qorvo had a return on equity of 12.53% and a net margin of 2.89%. The business had revenue of $632.70 million during the quarter, compared to analysts’ expectations of $621.35 million. During the same quarter last year, the company posted $3.03 earnings per share. Qorvo’s quarterly revenue was down 45.7% on a year-over-year basis. Analysts expect that Qorvo, Inc. will post 3.89 earnings per share for the current year.

Insider Buying and Selling

In other Qorvo news, SVP Paul J. Fego sold 4,304 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $95.00, for a total transaction of $408,880.00. Following the completion of the sale, the senior vice president now directly owns 33,070 shares in the company, valued at $3,141,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Qorvo news, CEO Robert A. Bruggeworth sold 17,063 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $90.73, for a total transaction of $1,548,125.99. Following the completion of the sale, the chief executive officer now directly owns 190,024 shares in the company, valued at $17,240,877.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Paul J. Fego sold 4,304 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $95.00, for a total transaction of $408,880.00. Following the sale, the senior vice president now owns 33,070 shares of the company’s stock, valued at $3,141,650. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on QRVO. 92 Resources reaffirmed a “maintains” rating on shares of Qorvo in a research note on Thursday, May 4th. KGI Securities raised Qorvo from a “neutral” rating to an “outperform” rating in a research note on Tuesday, May 9th. Wells Fargo & Company dropped their price objective on Qorvo from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 11th. Piper Sandler raised their price objective on Qorvo from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, February 2nd. Finally, Summit Insights upgraded Qorvo from a “hold” rating to a “buy” rating in a report on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $108.78.

Qorvo 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.