Asset Management One Co. Ltd. decreased its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 8.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 201,117 shares of the semiconductor company’s stock after selling 18,016 shares during the period. Asset Management One Co. Ltd. owned about 0.16% of Qorvo worth $13,794,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of QRVO. Chevy Chase Trust Holdings Inc. raised its stake in shares of Qorvo by 2.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 109,010 shares of the semiconductor company’s stock worth $7,474,000 after buying an additional 2,279 shares in the last quarter. Todd Asset Management LLC bought a new stake in shares of Qorvo during the third quarter worth about $13,083,000. Virtus Investment Advisers Inc. bought a new stake in shares of Qorvo during the third quarter worth about $261,000. British Columbia Investment Management Corp raised its stake in shares of Qorvo by 105.0% in the first quarter. British Columbia Investment Management Corp now owns 46,806 shares of the semiconductor company’s stock worth $3,209,000 after buying an additional 23,973 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp bought a new stake in shares of Qorvo during the first quarter worth about $2,040,000. Institutional investors and hedge funds own 96.66% of the company’s stock.
Qorvo, Inc. (NASDAQ:QRVO) traded up 0.06% during trading on Friday, hitting $71.72. 1,685,068 shares of the stock traded hands. The company’s 50 day moving average price is $73.35 and its 200 day moving average price is $65.64. Qorvo, Inc. has a 12 month low of $48.28 and a 12 month high of $79.34. The company’s market cap is $9.12 billion.
Qorvo (NASDAQ:QRVO) last posted its earnings results on Wednesday, May 3rd. The semiconductor company reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. The firm had revenue of $643 million during the quarter, compared to analysts’ expectations of $632.12 million. Qorvo had a positive return on equity of 10.39% and a negative net margin of 0.55%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.04 earnings per share. On average, equities research analysts anticipate that Qorvo, Inc. will post $5.61 EPS for the current fiscal year.
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QRVO has been the subject of a number of recent analyst reports. Charter Equity raised shares of Qorvo from a “market perform” rating to a “buy” rating in a research note on Wednesday, March 15th. Needham & Company LLC reissued a “buy” rating and set a $70.00 target price on shares of Qorvo in a research note on Tuesday, February 28th. Citigroup Inc. set a $60.00 price objective on shares of Qorvo and gave the stock a “hold” rating in a research note on Monday, February 27th. Macquarie began coverage on shares of Qorvo in a research note on Thursday, March 30th. They issued a “neutral” rating and a $70.00 price objective for the company. Finally, Wells Fargo & Company began coverage on shares of Qorvo in a research note on Tuesday, March 7th. They issued a “market perform” rating and a $70.00 price objective for the company. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $69.36.
In other Qorvo news, VP Steven E. Creviston sold 6,000 shares of Qorvo stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $70.75, for a total transaction of $424,500.00. Following the transaction, the vice president now owns 120,733 shares of the company’s stock, valued at $8,541,859.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP James L. Klein sold 2,600 shares of Qorvo stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $65.81, for a total value of $171,106.00. Following the transaction, the vice president now directly owns 36,808 shares in the company, valued at approximately $2,422,334.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 108,612 shares of company stock worth $8,047,002. 1.14% of the stock is currently owned by corporate insiders.
Qorvo Company Profile
Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).
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