IFM Investors Pty Ltd Sells 1,012 Shares of Qorvo, Inc. (NASDAQ:QRVO)

IFM Investors Pty Ltd decreased its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 5.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,775 shares of the semiconductor company’s stock after selling 1,012 shares during the period. IFM Investors Pty Ltd’s holdings in Qorvo were worth $2,156,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Barclays PLC lifted its holdings in shares of Qorvo by 646.2% during the 3rd quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company’s stock valued at $369,091,000 after buying an additional 3,347,972 shares during the period. UBS Group AG increased its position in Qorvo by 491.9% during the third quarter. UBS Group AG now owns 1,267,273 shares of the semiconductor company’s stock valued at $120,987,000 after acquiring an additional 1,053,157 shares during the last quarter. Norges Bank purchased a new position in Qorvo in the fourth quarter worth about $118,120,000. Balyasny Asset Management L.P. grew its stake in shares of Qorvo by 161.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 857,596 shares of the semiconductor company’s stock valued at $96,574,000 after purchasing an additional 529,309 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Qorvo by 268.3% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 537,541 shares of the semiconductor company’s stock valued at $51,319,000 after purchasing an additional 391,570 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Susquehanna restated a “neutral” rating and set a $100.00 target price on shares of Qorvo in a research report on Monday, April 8th. The Goldman Sachs Group boosted their price target on Qorvo from $104.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, February 1st. Barclays raised their price objective on Qorvo from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Raymond James boosted their price objective on Qorvo from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Finally, Piper Sandler reduced their target price on shares of Qorvo from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Qorvo presently has a consensus rating of “Hold” and an average target price of $111.53.

Insider Activity

In other Qorvo news, SVP Paul J. Fego sold 3,027 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $345,078.00. Following the completion of the sale, the senior vice president now owns 29,705 shares of the company’s stock, valued at $3,386,370. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Gina Harrison sold 354 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $40,356.00. Following the completion of the sale, the vice president now directly owns 18,442 shares of the company’s stock, valued at $2,102,388. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Paul J. Fego sold 3,027 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $345,078.00. Following the completion of the sale, the senior vice president now directly owns 29,705 shares of the company’s stock, valued at $3,386,370. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,381 shares of company stock valued at $745,434. 0.43% of the stock is currently owned by company insiders.

Qorvo Trading Up 1.8 %

NASDAQ QRVO traded up $2.05 during trading hours on Friday, hitting $116.75. 1,042,948 shares of the company were exchanged, compared to its average volume of 1,018,319. The stock has a market cap of $11.27 billion, a PE ratio of -54.30, a price-to-earnings-growth ratio of 0.88 and a beta of 1.56. Qorvo, Inc. has a 52 week low of $80.62 and a 52 week high of $121.65. The stock has a 50-day moving average price of $113.52 and a 200 day moving average price of $104.91. The company has a quick ratio of 1.33, a current ratio of 1.90 and a debt-to-equity ratio of 0.43.

Qorvo (NASDAQ:QRVO) last released its earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.47. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1 billion. Qorvo had a positive return on equity of 10.41% and a negative net margin of 6.11%. Analysts forecast that Qorvo, Inc. will post 4.95 earnings per share for the current fiscal year.

Qorvo Profile

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.