Cwm LLC Sells 17,428 Shares of Qorvo, Inc. $QRVO

Key Points

• Cwm LLC sold 17,428 shares, cutting its Qorvo stake by 62.8% to 10,330 shares valued at $873,000 per the latest SEC filing.
• Qorvo carries a consensus analyst rating of "Hold" with a consensus price target of $93.94, and recently beat quarterly estimates (EPS $2.17 vs. $1.93) while reporting $993M in revenue, up 8.4% year-over-year.

Cwm LLC reduced its position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 62.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,330 shares of the semiconductor company's stock after selling 17,428 shares during the quarter. Cwm LLC's holdings in Qorvo were worth $873,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its holdings in Qorvo by 0.9% during the 4th quarter. State of Alaska Department of Revenue now owns 42,813 shares of the semiconductor company's stock worth $3,618,000 after purchasing an additional 387 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Qorvo by 6.8% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,711 shares of the semiconductor company's stock valued at $990,000 after acquiring an additional 745 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Qorvo during the 4th quarter valued at $39,000. Aaron Wealth Advisors LLC raised its position in shares of Qorvo by 41.9% during the 4th quarter. Aaron Wealth Advisors LLC now owns 10,736 shares of the semiconductor company's stock valued at $907,000 after acquiring an additional 3,169 shares during the last quarter. Finally, Sound Income Strategies LLC raised its position in shares of Qorvo by 952.8% during the 4th quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 343 shares during the last quarter. 88.57% of the stock is owned by institutional investors.

Analysts Set New Price Targets

QRVO has been the subject of several recent research reports. Benchmark reiterated a "hold" rating on shares of Qorvo in a research report on Wednesday, January 28th. Wolfe Research cut shares of Qorvo from an "outperform" rating to a "peer perform" rating in a research report on Friday, April 17th. Barclays upgraded shares of Qorvo from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $95.00 to $100.00 in a research report on Wednesday, April 22nd. Zacks Research cut shares of Qorvo from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 16th. Finally, Piper Sandler reiterated a "neutral" rating on shares of Qorvo in a research report on Wednesday, January 28th. Three investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Qorvo presently has a consensus rating of "Hold" and a consensus price target of $93.94.

Qorvo Price Performance

QRVO opened at $84.92 on Wednesday. The company has a quick ratio of 2.89, a current ratio of 3.67 and a debt-to-equity ratio of 0.42. Qorvo, Inc. has a 12 month low of $62.34 and a 12 month high of $106.30. The company has a fifty day simple moving average of $80.44 and a 200 day simple moving average of $83.87. The stock has a market cap of $7.87 billion, a P/E ratio of 23.39, a P/E/G ratio of 1.35 and a beta of 1.34.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its quarterly earnings data on Tuesday, January 27th. The semiconductor company reported $2.17 EPS for the quarter, beating analysts' consensus estimates of $1.93 by $0.24. Qorvo had a net margin of 9.11% and a return on equity of 14.57%. The business had revenue of $993.00 million during the quarter, compared to analysts' expectations of $984.10 million. During the same quarter in the prior year, the company earned $1.61 EPS. The firm's quarterly revenue was up 8.4% on a year-over-year basis. On average, research analysts expect that Qorvo, Inc. will post 5.29 EPS for the current year.

Qorvo Profile

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo's product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.

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