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

Xponance Inc. reduced its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 51.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,564 shares of the semiconductor company's stock after selling 4,837 shares during the period. Xponance Inc.'s holdings in Qorvo were worth $330,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Ameriprise Financial Inc. increased its stake 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 valued at $251,577,000 after purchasing an additional 1,816,811 shares in the last quarter. Norges Bank acquired a new stake in Qorvo in the fourth quarter valued at approximately $71,825,000. Vulcan Value Partners LLC increased its position in shares of Qorvo by 53.7% in the fourth quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company's stock valued at $180,487,000 after buying an additional 902,353 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in shares of Qorvo during the 4th quarter worth approximately $29,650,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Qorvo by 22.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,419,698 shares of the semiconductor company's stock worth $99,280,000 after buying an additional 264,167 shares during the period. Hedge funds and other institutional investors own 88.57% of the company's stock.

Insider Activity

In other news, Director John R. Harding sold 1,450 shares of the company's stock in a transaction dated 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 transaction, the director owned 7,597 shares of the company's stock, valued at $532,473.73. This represents a 16.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.41% of the stock is owned by corporate insiders.

Qorvo Stock Performance

Shares of NASDAQ:QRVO traded down $0.06 during trading on Friday, reaching $88.57. The company had a trading volume of 1,020,987 shares, compared to its average volume of 2,261,394. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.77 and a quick ratio of 1.95. The stock's fifty day moving average price is $81.65 and its 200 day moving average price is $75.21. Qorvo, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $125.88. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of 152.71, a price-to-earnings-growth ratio of 2.36 and a beta of 1.39.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on QRVO. Stifel Nicolaus set a $75.00 target price on Qorvo in a research report on Monday, April 28th. Mizuho set a $84.00 price objective on Qorvo and gave the stock a "neutral" rating in a research note on Tuesday, July 1st. TD Cowen reduced their price target on Qorvo from $90.00 to $80.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on shares of Qorvo in a report on Thursday, July 10th. They issued a "neutral" rating and a $90.00 price objective for the company. Finally, Loop Capital reduced their target price 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. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $91.53.

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.