Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. decreased its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. 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 about 11.79% of Qorvo worth $797,280,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of QRVO. Ameriprise Financial Inc. boosted its holdings in shares of 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 purchasing an additional 1,816,811 shares during the period. Vulcan Value Partners LLC boosted its holdings in shares of Qorvo by 53.7% in the 4th quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company's stock worth $180,487,000 after purchasing an additional 902,353 shares during the period. Voloridge Investment Management LLC purchased a new position in shares of Qorvo in the 4th quarter worth approximately $29,650,000. LSV Asset Management boosted its holdings in shares of Qorvo by 114.4% in the 1st quarter. LSV Asset Management now owns 634,381 shares of the semiconductor company's stock worth $45,936,000 after purchasing an additional 338,521 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of Qorvo by 484.4% in the 1st quarter. Victory Capital Management Inc. now owns 336,846 shares of the semiconductor company's stock worth $24,391,000 after purchasing an additional 279,211 shares during the period. Hedge funds and other institutional investors own 88.57% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on QRVO. Stifel Nicolaus set a $88.00 price objective on Qorvo and gave the company a "hold" rating in a report on Wednesday, July 30th. The Goldman Sachs Group began coverage on Qorvo in a report on Thursday, July 10th. They set a "neutral" rating and a $90.00 price objective for the company. TD Cowen boosted their price objective on Qorvo from $80.00 to $95.00 and gave the company a "hold" rating in a report on Wednesday, July 30th. Needham & Company LLC boosted their price objective on Qorvo from $90.00 to $104.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, Piper Sandler boosted their price objective on Qorvo from $110.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Qorvo currently has a consensus rating of "Hold" and an average price target of $95.35.

Qorvo Stock Up 0.6%

Shares of QRVO traded up $0.52 during trading hours on Thursday, hitting $90.66. The company had a trading volume of 1,127,692 shares, compared to its average volume of 1,979,872. The company has a market capitalization of $8.40 billion, a PE ratio of 106.66, a price-to-earnings-growth ratio of 1.76 and a beta of 1.35. 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, Inc. has a one year low of $49.46 and a one year high of $117.90. The company's fifty day moving average price is $85.15 and its two-hundred day moving average price is $76.35.

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

Qorvo 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.