Qorvo, Inc. (NASDAQ:QRVO) Stake Trimmed by Wedmont Private Capital

Wedmont Private Capital cut its position in shares of Qorvo, Inc. (NASDAQ:QRVOFree Report) by 27.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,704 shares of the semiconductor company’s stock after selling 2,143 shares during the period. Wedmont Private Capital’s holdings in Qorvo were worth $409,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in QRVO. Pacer Advisors Inc. lifted its position in shares of Qorvo by 17,255.9% in the 2nd quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company’s stock valued at $165,590,000 after acquiring an additional 1,418,784 shares in the last quarter. Vulcan Value Partners LLC lifted its holdings in shares of Qorvo by 35.0% in the second quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company’s stock valued at $246,665,000 after purchasing an additional 550,111 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Qorvo by 140.2% in the third quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company’s stock worth $86,290,000 after buying an additional 487,621 shares during the period. Caxton Associates LP purchased a new position in shares of Qorvo during the second quarter valued at $34,812,000. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Qorvo by 78.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company’s stock valued at $55,548,000 after buying an additional 236,590 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Philip Chesley sold 4,045 shares of Qorvo stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $70.15, for a total value of $283,756.75. Following the transaction, the senior vice president now directly owns 30,261 shares in the company, valued at approximately $2,122,809.15. The trade was a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on QRVO shares. Craig Hallum decreased their price objective on Qorvo from $142.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. The Goldman Sachs Group lowered their price objective on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Raymond James downgraded shares of Qorvo from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. StockNews.com cut shares of Qorvo from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Barclays cut their price objective on Qorvo from $120.00 to $90.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Qorvo has a consensus rating of “Hold” and a consensus price target of $99.06.

Get Our Latest Stock Report on QRVO

Qorvo Stock Up 1.8 %

QRVO opened at $74.16 on Thursday. The firm has a market cap of $7.01 billion, a P/E ratio of -50.79, a price-to-earnings-growth ratio of 5.58 and a beta of 1.40. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90. The business has a 50 day moving average price of $69.75 and a 200 day moving average price of $94.39. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99.

Qorvo (NASDAQ:QRVOGet Free Report) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.99 earnings per share. Research analysts forecast that Qorvo, Inc. will post 3.37 EPS for the current year.

Qorvo Company Profile

(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.

See Also

Want to see what other hedge funds are holding QRVO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qorvo, Inc. (NASDAQ:QRVOFree Report).

Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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