Caisse DE Depot ET Placement DU Quebec reduced its position in shares of Qorvo Inc (NASDAQ:QRVO) by 21.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,900 shares of the semiconductor company’s stock after selling 7,200 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Qorvo were worth $1,792,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the stock. Amundi Pioneer Asset Management Inc. acquired a new position in Qorvo during the 4th quarter worth approximately $1,930,000. Lombard Odier Asset Management Switzerland SA acquired a new position in Qorvo during the 4th quarter worth approximately $972,000. Geode Capital Management LLC raised its stake in Qorvo by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 1,400,759 shares of the semiconductor company’s stock worth $93,101,000 after buying an additional 51,844 shares during the period. Breakline Capital LLC acquired a new position in Qorvo during the 4th quarter worth approximately $1,965,000. Finally, Allianz Asset Management GmbH raised its stake in shares of Qorvo by 2.3% in the fourth quarter. Allianz Asset Management GmbH now owns 49,574 shares of the semiconductor company’s stock worth $3,302,000 after purchasing an additional 1,117 shares during the last quarter. 97.58% of the stock is currently owned by institutional investors and hedge funds.
QRVO has been the subject of several analyst reports. Instinet raised Qorvo from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Thursday, February 1st. BidaskClub downgraded Qorvo from a “hold” rating to a “sell” rating in a research report on Wednesday, December 6th. JPMorgan Chase & Co. set a $88.00 price target on Qorvo and gave the company a “buy” rating in a research report on Wednesday, November 15th. Zacks Investment Research downgraded Qorvo from a “hold” rating to a “sell” rating in a research report on Monday, January 22nd. Finally, Needham & Company LLC increased their price target on Qorvo from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $81.47.
In related news, insider Robert A. Bruggeworth sold 5,000 shares of Qorvo stock in a transaction on Friday, December 15th. The stock was sold at an average price of $65.57, for a total transaction of $327,850.00. Following the completion of the sale, the insider now owns 185,344 shares of the company’s stock, valued at $12,153,006.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel A. Dileo sold 2,500 shares of Qorvo stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $83.97, for a total value of $209,925.00. Following the sale, the director now directly owns 27,282 shares of the company’s stock, valued at approximately $2,290,869.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,500 shares of company stock valued at $1,915,645. 0.91% of the stock is owned by corporate insiders.
Qorvo Inc (NASDAQ QRVO) opened at $82.22 on Thursday. Qorvo Inc has a twelve month low of $62.68 and a twelve month high of $86.84. The firm has a market capitalization of $10,400.00, a price-to-earnings ratio of 84.76, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. The company has a current ratio of 4.72, a quick ratio of 3.62 and a debt-to-equity ratio of 0.23.
Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.09. Qorvo had a return on equity of 11.72% and a net margin of 0.95%. The business had revenue of $845.70 million during the quarter, compared to analyst estimates of $841.09 million. During the same period in the prior year, the company earned $1.35 earnings per share. Qorvo’s revenue was up 2.3% compared to the same quarter last year. equities research analysts predict that Qorvo Inc will post 4.49 EPS for the current year.
COPYRIGHT VIOLATION NOTICE: “Caisse DE Depot ET Placement DU Quebec Reduces Position in Qorvo Inc (QRVO)” was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright law. The original version of this story can be read at https://www.dispatchtribunal.com/2018/03/15/caisse-de-depot-et-placement-du-quebec-reduces-position-in-qorvo-inc-qrvo.html.
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).
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.