First Trust Advisors LP Sells 20,734 Shares of Qorvo, Inc. (NASDAQ:QRVO)

First Trust Advisors LP decreased its holdings in Qorvo, Inc. (NASDAQ:QRVOFree Report) by 8.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 226,711 shares of the semiconductor company’s stock after selling 20,734 shares during the quarter. First Trust Advisors LP owned 0.23% of Qorvo worth $25,530,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Huntington National Bank raised its position in Qorvo by 8,090.0% in the third quarter. Huntington National Bank now owns 819 shares of the semiconductor company’s stock worth $78,000 after purchasing an additional 809 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Qorvo in the 4th quarter worth approximately $104,000. Quadrant Capital Group LLC lifted its position in shares of Qorvo by 18.7% during the 4th quarter. Quadrant Capital Group LLC now owns 951 shares of the semiconductor company’s stock worth $107,000 after buying an additional 150 shares during the period. Wahed Invest LLC boosted its stake in Qorvo by 7.5% in the 3rd quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company’s stock valued at $147,000 after buying an additional 108 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new stake in Qorvo in the third quarter valued at $203,000. 88.57% of the stock is owned by institutional investors.

Qorvo Price Performance

Shares of QRVO stock opened at $102.36 on Tuesday. The company has a quick ratio of 1.41, a current ratio of 1.99 and a debt-to-equity ratio of 0.44. Qorvo, Inc. has a 12 month low of $80.62 and a 12 month high of $121.65. The firm has a market cap of $9.79 billion, a price-to-earnings ratio of -140.22, a PEG ratio of 0.96 and a beta of 1.44. The stock has a 50-day moving average price of $104.75 and a 200 day moving average price of $107.25.

Qorvo (NASDAQ:QRVOGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. Qorvo had a negative net margin of 1.86% and a positive return on equity of 13.43%. The business had revenue of $941.00 million during the quarter, compared to the consensus estimate of $927.24 million. During the same period in the previous year, the firm posted $0.11 earnings per share. Qorvo’s revenue for the quarter was up 48.7% compared to the same quarter last year. Research analysts expect that Qorvo, Inc. will post 5.16 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on QRVO shares. StockNews.com cut Qorvo from a “buy” rating to a “hold” rating in a report on Friday. Mizuho reduced their price target on shares of Qorvo from $115.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Needham & Company LLC decreased their price objective on shares of Qorvo from $125.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. cut their target price on shares of Qorvo from $105.00 to $100.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. Finally, Susquehanna decreased their price target on Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Qorvo currently has a consensus rating of “Hold” and a consensus target price of $110.83.

Read Our Latest Research Report on Qorvo

Insider Activity

In related news, CEO Robert A. Bruggeworth sold 15,279 shares of Qorvo stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $100.00, for a total transaction of $1,527,900.00. Following the completion of the sale, the chief executive officer now directly owns 190,161 shares of the company’s stock, valued at $19,016,100. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Robert A. Bruggeworth sold 15,279 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $100.00, for a total value of $1,527,900.00. Following the sale, the chief executive officer now directly owns 190,161 shares in the company, valued at approximately $19,016,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert A. Bruggeworth sold 22,299 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $99.31, for a total transaction of $2,214,513.69. Following the transaction, the chief executive officer now owns 154,714 shares of the company’s stock, valued at approximately $15,364,647.34. The disclosure for this sale can be found here. Insiders have sold a total of 45,372 shares of company stock valued at $4,517,858 in the last 90 days. 0.43% of the stock is owned by company insiders.

About Qorvo

(Free Report)

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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