Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lessened its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 74.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,752 shares of the semiconductor company's stock after selling 11,032 shares during the period. Lazard Asset Management LLC's holdings in Qorvo were worth $261,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of QRVO. Ameriprise Financial Inc. increased its stake in Qorvo by 102.0% in the 4th quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company's stock worth $251,577,000 after acquiring an additional 1,816,811 shares during the last quarter. FIL Ltd increased its stake in Qorvo by 5.3% during the 4th quarter. FIL Ltd now owns 3,324,241 shares of the semiconductor company's stock worth $232,464,000 after buying an additional 166,461 shares in the last quarter. Vulcan Value Partners LLC grew its position in Qorvo by 53.7% in the fourth quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company's stock worth $180,487,000 after acquiring an additional 902,353 shares during the period. Amundi boosted its holdings in Qorvo by 84.4% in the fourth quarter. Amundi now owns 2,143,858 shares of the semiconductor company's stock valued at $156,673,000 after purchasing an additional 981,519 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Qorvo by 22.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,419,698 shares of the semiconductor company's stock worth $99,280,000 after purchasing an additional 264,167 shares during the last quarter. Institutional investors own 88.57% of the company's stock.

Insider Activity at Qorvo

In other news, Director John R. Harding sold 1,450 shares of Qorvo stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $70.09, for a total transaction of $101,630.50. Following the transaction, the director now directly owns 7,597 shares of the company's stock, valued at $532,473.73. The trade was a 16.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is currently owned by insiders.

Qorvo Price Performance

QRVO stock traded down $0.33 during mid-day trading on Wednesday, reaching $76.62. 900,020 shares of the company traded hands, compared to its average volume of 2,195,761. The company has a market capitalization of $7.13 billion, a P/E ratio of 274.64, a P/E/G ratio of 15.57 and a beta of 1.38. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. The company has a fifty day moving average price of $67.80 and a 200-day moving average price of $71.55. Qorvo, Inc. has a 52-week low of $49.46 and a 52-week high of $130.99.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.42. The firm had revenue of $869.47 million during the quarter, compared to the consensus estimate of $850.13 million. Qorvo had a return on equity of 12.41% and a net margin of 0.71%. The business's revenue was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.39 earnings per share. As a group, analysts anticipate that Qorvo, Inc. will post 4.09 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on QRVO. Needham & Company LLC reduced their target price on shares of Qorvo from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Barclays upped their price objective on shares of Qorvo from $60.00 to $70.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. TD Cowen dropped their price target on shares of Qorvo from $90.00 to $80.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Benchmark upgraded Qorvo from a "hold" rating to a "buy" rating and set a $95.00 price objective on the stock in a report on Wednesday, April 30th. Finally, Citigroup reduced their target price on Qorvo from $72.00 to $69.00 and set a "sell" rating for the company in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $91.21.

About Qorvo

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.