Qorvo, Inc. (NASDAQ:QRVO) Holdings Cut by Vanguard Group Inc.

Vanguard Group Inc. decreased its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,010,635 shares of the semiconductor company's stock after selling 387,233 shares during the quarter. Vanguard Group Inc. owned approximately 11.79% of Qorvo worth $797,280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. City Holding Co. acquired a new stake in Qorvo during the first quarter worth about $25,000. Larson Financial Group LLC raised its stake in Qorvo by 222.6% during the first quarter. Larson Financial Group LLC now owns 429 shares of the semiconductor company's stock worth $31,000 after acquiring an additional 296 shares during the period. Curat Global LLC acquired a new stake in Qorvo during the first quarter worth about $34,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Qorvo in the 1st quarter worth about $34,000. Finally, Signaturefd LLC grew its position in Qorvo by 34.6% in the 1st quarter. Signaturefd LLC now owns 662 shares of the semiconductor company's stock worth $48,000 after purchasing an additional 170 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company's stock.

Qorvo Price Performance

QRVO stock traded down $1.31 on Friday, hitting $89.35. 1,268,208 shares of the company's stock traded hands, compared to its average volume of 1,979,171. Qorvo, Inc. has a 1-year low of $49.46 and a 1-year high of $117.90. The stock has a market cap of $8.28 billion, a price-to-earnings ratio of 105.12, a P/E/G ratio of 1.74 and a beta of 1.35. The stock has a fifty day moving average of $85.37 and a 200-day moving average of $76.31. The company has a current ratio of 2.81, a quick ratio of 2.01 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.62 by $0.30. The business had revenue of $818.80 million during the quarter, compared to analyst estimates of $775.61 million. Qorvo had a net margin of 2.21% and a return on equity of 12.63%. The business's quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.87 earnings per share. On average, analysts forecast that Qorvo, Inc. will post 4.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Barclays upped their target price on shares of Qorvo from $70.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Susquehanna restated a "neutral" rating and issued a $95.00 target price (up previously from $90.00) on shares of Qorvo in a research report on Wednesday, July 30th. Benchmark upped their target price on shares of Qorvo from $95.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Loop Capital upped their target price on shares of Qorvo from $75.00 to $90.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Finally, The Goldman Sachs Group initiated coverage on shares of Qorvo in a research report on Thursday, July 10th. They issued a "neutral" rating and a $90.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Qorvo presently has a consensus rating of "Hold" and a consensus target price of $95.35.

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.