LPL Financial LLC Has $1.81 Million Holdings in Qorvo, Inc. (NASDAQ:QRVO)

LPL Financial LLC cut its holdings in Qorvo, Inc. (NASDAQ:QRVO – Get Rating) by 22.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,912 shares of the semiconductor company’s stock after selling 5,633 shares during the quarter. LPL Financial LLC’s holdings in Qorvo were worth $1,805,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Condor Capital Management lifted its stake in Qorvo by 2.4% in the fourth quarter. Condor Capital Management now owns 12,500 shares of the semiconductor company’s stock valued at $1,133,000 after buying an additional 292 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Qorvo by 16.6% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 77,558 shares of the semiconductor company’s stock worth $6,914,000 after purchasing an additional 11,050 shares during the period. Moors & Cabot Inc. acquired a new position in shares of Qorvo during the fourth quarter worth approximately $401,000. Robeco Institutional Asset Management B.V. raised its position in shares of Qorvo by 82.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 52,995 shares of the semiconductor company’s stock worth $4,803,000 after purchasing an additional 24,013 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in shares of Qorvo by 2.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 7,228 shares of the semiconductor company’s stock worth $655,000 after purchasing an additional 174 shares during the period. 86.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Qorvo

In related news, CEO Robert A. Bruggeworth sold 11,218 shares of the stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $93.84, for a total transaction of $1,052,697.12. Following the sale, the chief executive officer now owns 178,806 shares of the company’s stock, valued at approximately $16,779,155.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Paul J. Fego sold 4,304 shares of the stock in a transaction dated 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 approximately $3,141,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert A. Bruggeworth sold 11,218 shares of the stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $93.84, for a total value of $1,052,697.12. Following the sale, the chief executive officer now directly owns 178,806 shares in the company, valued at approximately $16,779,155.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,585 shares of company stock worth $3,009,703. 0.45% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on QRVO. Needham & Company LLC upped their target price on Qorvo from $130.00 to $140.00 in a research report on Thursday, May 4th. Summit Insights raised Qorvo from a “hold” rating to a “buy” rating in a research report on Thursday, May 4th. Piper Sandler upped their price target on Qorvo from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, February 2nd. Citigroup upped their price target on Qorvo from $94.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, February 3rd. Finally, Raymond James began coverage on Qorvo in a report on Wednesday, March 1st. They set an “outperform” rating and a $120.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Qorvo has a consensus rating of “Hold” and an average target price of $108.78.

Qorvo Stock Down 2.1 %

QRVO stock opened at $94.12 on Wednesday. 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 company has a market capitalization of $9.40 billion, a price-to-earnings ratio of 102.30, a PEG ratio of 3.77 and a beta of 1.45. Qorvo, Inc. has a fifty-two week low of $75.38 and a fifty-two week high of $114.59. The stock has a fifty day moving average of $94.93 and a 200-day moving average of $97.37.

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

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.