Tidal Investments LLC Sells 20,087 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Tidal Investments LLC lowered its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 53.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,642 shares of the semiconductor company's stock after selling 20,087 shares during the period. Tidal Investments LLC's holdings in Qorvo were worth $1,234,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Mediolanum International Funds Ltd purchased a new stake in shares of Qorvo during the fourth quarter worth $1,177,000. Janney Montgomery Scott LLC lifted its position in shares of Qorvo by 245.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company's stock valued at $1,024,000 after acquiring an additional 10,405 shares during the period. JPMorgan Chase & Co. grew its position in shares of Qorvo by 16.3% in the fourth quarter. JPMorgan Chase & Co. now owns 649,631 shares of the semiconductor company's stock valued at $45,429,000 after purchasing an additional 91,120 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Qorvo during the 4th quarter worth about $1,327,000. Finally, F&V Capital Management LLC grew its holdings in Qorvo by 3.7% in the 4th quarter. F&V Capital Management LLC now owns 93,538 shares of the semiconductor company's stock valued at $6,541,000 after buying an additional 3,335 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Qorvo Price Performance

Shares of QRVO stock traded down $0.90 during trading on Friday, hitting $75.52. The company had a trading volume of 357,963 shares, compared to its average volume of 2,195,292. The firm has a market capitalization of $7.02 billion, a P/E ratio of 270.60, a price-to-earnings-growth ratio of 15.57 and a beta of 1.38. Qorvo, Inc. has a one year low of $49.46 and a one year high of $130.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. The stock's 50-day moving average price is $67.95 and its 200 day moving average price is $71.63.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its quarterly earnings results 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 period in the prior year, the business earned $1.39 earnings per share. The company's revenue for the quarter was down 7.6% compared to the same quarter last year. Equities analysts expect that Qorvo, Inc. will post 4.09 EPS for the current fiscal year.

Insider Buying and Selling at Qorvo

In related news, Director John R. Harding sold 1,450 shares of Qorvo stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $70.09, for a total transaction of $101,630.50. Following the sale, the director now directly owns 7,597 shares in the company, valued at approximately $532,473.73. This trade represents a 16.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.46% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Loop Capital cut their price objective on Qorvo from $90.00 to $75.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Needham & Company LLC lowered their price target on Qorvo from $100.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Stifel Nicolaus set a $75.00 target price on shares of Qorvo in a report on Monday, April 28th. Barclays raised their target price on Qorvo from $60.00 to $70.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Finally, TD Cowen reduced their price target on Qorvo from $90.00 to $80.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Qorvo has a consensus rating of "Hold" and an average target price of $91.21.

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.