Robeco Institutional Asset Management B.V. lessened its holdings in shares of Qorvo Inc (NASDAQ:QRVO) by 6.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 92,761 shares of the semiconductor company’s stock after selling 5,928 shares during the period. Robeco Institutional Asset Management B.V. owned 0.08% of Qorvo worth $6,652,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Campbell Newman Asset Management Inc. grew its holdings in shares of Qorvo by 3.6% during the first quarter. Campbell Newman Asset Management Inc. now owns 3,990 shares of the semiconductor company’s stock worth $286,000 after purchasing an additional 139 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in shares of Qorvo by 0.9% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,140 shares of the semiconductor company’s stock worth $1,102,000 after purchasing an additional 161 shares during the last quarter. CSat Investment Advisory L.P. grew its holdings in shares of Qorvo by 82.9% during the fourth quarter. CSat Investment Advisory L.P. now owns 534 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 242 shares during the last quarter. Alps Advisors Inc. grew its holdings in shares of Qorvo by 3.9% during the fourth quarter. Alps Advisors Inc. now owns 7,150 shares of the semiconductor company’s stock worth $434,000 after purchasing an additional 266 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in shares of Qorvo by 0.3% during the fourth quarter. Great West Life Assurance Co. Can now owns 80,126 shares of the semiconductor company’s stock worth $4,627,000 after purchasing an additional 273 shares during the last quarter. Institutional investors own 91.52% of the company’s stock.
In other news, insider Robert A. Bruggeworth sold 25,831 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $72.52, for a total transaction of $1,873,264.12. Following the sale, the insider now owns 201,794 shares of the company’s stock, valued at $14,634,100.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Steven E. Creviston sold 3,000 shares of Qorvo stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $68.87, for a total value of $206,610.00. Following the completion of the sale, the vice president now directly owns 55,006 shares in the company, valued at approximately $3,788,263.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 244,110 shares of company stock worth $16,970,553. 0.85% of the stock is currently owned by insiders.
Several brokerages have recently commented on QRVO. Zacks Investment Research cut Qorvo from a “buy” rating to a “sell” rating in a report on Tuesday, April 30th. DA Davidson raised their price target on Qorvo from $6.00 to $82.00 in a report on Wednesday, May 8th. Mizuho raised their price target on Qorvo from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Raymond James raised their price target on Qorvo from $70.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Finally, TheStreet upgraded Qorvo from a “c+” rating to a “b-” rating in a report on Monday, March 25th. Thirteen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Qorvo currently has a consensus rating of “Buy” and an average price target of $78.78.
NASDAQ QRVO opened at $72.86 on Thursday. The stock has a market cap of $8.72 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.22 and a beta of 0.92. The company has a current ratio of 3.87, a quick ratio of 2.69 and a debt-to-equity ratio of 0.21. Qorvo Inc has a one year low of $54.74 and a one year high of $86.50.
Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Tuesday, May 7th. The semiconductor company reported $1.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.23. The company had revenue of $680.88 million for the quarter, compared to analyst estimates of $670.59 million. Qorvo had a return on equity of 14.66% and a net margin of 4.31%. Qorvo’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.07 earnings per share. Research analysts anticipate that Qorvo Inc will post 5.13 earnings per share for the current fiscal year.
Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.
Read More: Investing in Blue-Chip Stocks
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:QRVO).
Receive News & Ratings for Qorvo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qorvo and related companies with MarketBeat.com's FREE daily email newsletter.