Nomura Asset Management Co. Ltd. trimmed its position in Qorvo Inc (NASDAQ:QRVO) by 19.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,369 shares of the semiconductor company’s stock after selling 4,450 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Qorvo were worth $1,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in QRVO. Alyeska Investment Group L.P. acquired a new position in shares of Qorvo in the 3rd quarter valued at $118,506,000. Boston Partners increased its position in shares of Qorvo by 47.5% in the 4th quarter. Boston Partners now owns 2,869,210 shares of the semiconductor company’s stock valued at $191,089,000 after acquiring an additional 924,017 shares during the period. Cornerstone Capital Management Holdings LLC. increased its position in shares of Qorvo by 113.1% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 374,721 shares of the semiconductor company’s stock valued at $26,484,000 after acquiring an additional 198,856 shares during the period. Ameriprise Financial Inc. increased its position in shares of Qorvo by 4.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,657,995 shares of the semiconductor company’s stock valued at $329,228,000 after acquiring an additional 194,106 shares during the period. Finally, First Trust Advisors LP increased its position in shares of Qorvo by 119.2% in the 4th quarter. First Trust Advisors LP now owns 309,432 shares of the semiconductor company’s stock valued at $20,608,000 after acquiring an additional 168,299 shares during the period. 97.58% of the stock is currently owned by hedge funds and other institutional investors.
QRVO has been the topic of several analyst reports. BidaskClub downgraded Qorvo from a “hold” rating to a “sell” rating in a research report on Saturday, February 17th. Zacks Investment Research downgraded Qorvo from a “hold” rating to a “sell” rating in a research report on Monday, January 22nd. Piper Jaffray Companies initiated coverage on Qorvo in a research report on Monday, February 26th. They set an “overweight” rating and a $90.00 price target on the stock. Barclays increased their price target on Qorvo from $75.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 1st. Finally, Nomura raised Qorvo from a “neutral” rating to a “buy” rating and increased their price target for the stock from $75.00 to $85.00 in a research report on Thursday, February 1st. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the company. Qorvo has a consensus rating of “Hold” and a consensus price target of $81.68.
In other news, VP Steven E. Creviston sold 6,000 shares of the stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $79.48, for a total transaction of $476,880.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel A. Dileo sold 2,500 shares of the stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $83.97, for a total transaction of $209,925.00. Following the sale, the director now directly owns 27,282 shares in the company, valued at $2,290,869.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,500 shares of company stock worth $1,671,675. Corporate insiders own 0.91% of the company’s stock.
Shares of Qorvo Inc (NASDAQ QRVO) opened at $80.75 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.62 and a current ratio of 4.72. Qorvo Inc has a 12 month low of $62.68 and a 12 month high of $86.84. The stock has a market cap of $10,214.39, a PE ratio of 18.52, a PEG ratio of 1.42 and a beta of 0.81.
Qorvo (NASDAQ:QRVO) last posted its earnings results on Wednesday, January 31st. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.09. Qorvo had a net margin of 0.95% and a return on equity of 11.72%. The business had revenue of $845.70 million for the quarter, compared to analyst estimates of $841.09 million. During the same period in the prior year, the company posted $1.35 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. research analysts predict that Qorvo Inc will post 4.49 earnings per share for the current year.
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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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