MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $897,000 Stake in Qorvo, Inc. (NASDAQ:QRVO)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 44.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,825 shares of the semiconductor company's stock after selling 10,177 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Qorvo were worth $897,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of QRVO. Janney Montgomery Scott LLC lifted its position in shares of Qorvo by 245.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company's stock worth $1,024,000 after purchasing an additional 10,405 shares in the last quarter. CX Institutional acquired a new position in shares of Qorvo during the fourth quarter worth approximately $224,000. Blue Trust Inc. lifted its position in shares of Qorvo by 23.6% during the fourth quarter. Blue Trust Inc. now owns 1,739 shares of the semiconductor company's stock worth $122,000 after purchasing an additional 332 shares in the last quarter. KBC Group NV lifted its holdings in Qorvo by 144.8% in the fourth quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company's stock valued at $75,328,000 after buying an additional 637,087 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Qorvo by 33.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 715,045 shares of the semiconductor company's stock valued at $50,003,000 after acquiring an additional 177,315 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Qorvo

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Loop Capital reduced their price objective on shares of Qorvo from $90.00 to $75.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Stifel Nicolaus set a $75.00 price objective on shares of Qorvo in a research note on Monday, April 28th. TD Cowen reduced their price objective on shares of Qorvo from $90.00 to $80.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Benchmark raised shares of Qorvo from a "hold" rating to a "buy" rating and set a $95.00 price objective on the stock in a research note on Wednesday, April 30th. Finally, Barclays raised their price objective on shares of Qorvo from $60.00 to $70.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $91.21.

Qorvo Stock Down 1.6%

Shares of QRVO stock traded down $1.25 during trading hours on Friday, hitting $75.16. 2,665,475 shares of the company were exchanged, compared to its average volume of 2,213,322. The business has a 50 day moving average of $67.94 and a two-hundred day moving average of $71.73. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46. Qorvo, Inc. has a 52 week low of $49.46 and a 52 week high of $130.99. The company has a market capitalization of $6.99 billion, a PE ratio of 268.43, a PEG ratio of 15.57 and a beta of 1.38.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.42. Qorvo had a net margin of 0.71% and a return on equity of 12.41%. 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 earnings per share. The firm's revenue was down 7.6% compared to the same quarter last year. Analysts anticipate that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

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.