Qorvo, Inc. (NASDAQ:QRVO) Stake Lessened by Leeward Investments LLC MA

Leeward Investments LLC MA lowered its position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 3.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 109,632 shares of the semiconductor company's stock after selling 3,789 shares during the quarter. Leeward Investments LLC MA owned about 0.12% of Qorvo worth $7,938,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of QRVO. City Holding Co. bought a new position in shares of Qorvo during the first quarter valued at approximately $25,000. Rakuten Securities Inc. bought a new position in shares of Qorvo during the fourth quarter valued at approximately $28,000. Huntington National Bank grew its holdings in shares of Qorvo by 47.1% during the fourth quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 145 shares during the last quarter. Curat Global LLC bought a new position in shares of Qorvo during the first quarter valued at approximately $34,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Qorvo during the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 88.57% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on QRVO shares. Barclays increased their price objective on Qorvo from $60.00 to $70.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. TD Cowen decreased their price objective on Qorvo from $90.00 to $80.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Benchmark raised Qorvo from a "hold" rating to a "buy" rating and set a $95.00 price objective for the company in a report on Wednesday, April 30th. Citigroup reissued a "sell" rating on shares of Qorvo in a report on Tuesday, June 10th. Finally, Mizuho set a $84.00 price objective on Qorvo and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $90.89.

Insider Activity at Qorvo

In other news, Director John R. Harding sold 1,450 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $70.09, for a total value of $101,630.50. Following the completion of the sale, the director owned 7,597 shares in the company, valued at $532,473.73. This represents a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.41% of the company's stock.

Qorvo Price Performance

Shares of NASDAQ:QRVO traded up $0.99 on Tuesday, reaching $88.03. 2,618,179 shares of the company traded hands, compared to its average volume of 2,254,153. Qorvo, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $130.99. The company's 50 day moving average is $78.90 and its 200-day moving average is $74.23. The stock has a market capitalization of $8.17 billion, a PE ratio of 151.78, a P/E/G ratio of 2.32 and a beta of 1.39. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.77 and a quick ratio of 1.95.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.42. Qorvo had a return on equity of 12.48% and a net margin of 1.50%. The company had revenue of $869.47 million during the quarter, compared to the consensus estimate of $850.13 million. During the same quarter in the prior year, the firm earned $1.39 EPS. The company's quarterly revenue was down 7.6% compared to the same quarter last year. As a group, analysts anticipate that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

Qorvo Company 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.