Mercer Global Advisors Inc. ADV Has $354,000 Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Mercer Global Advisors Inc. ADV cut its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 63.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,055 shares of the semiconductor company's stock after selling 8,803 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Qorvo were worth $354,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Mediolanum International Funds Ltd bought a new position in shares of Qorvo in the fourth quarter worth about $1,177,000. Janney Montgomery Scott LLC raised its position in 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 purchasing an additional 10,405 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Qorvo by 16.3% during the fourth quarter. JPMorgan Chase & Co. now owns 649,631 shares of the semiconductor company's stock valued at $45,429,000 after buying an additional 91,120 shares during the period. Raymond James Financial Inc. bought a new position in Qorvo in the fourth quarter worth about $1,327,000. Finally, F&V Capital Management LLC boosted its position in shares of Qorvo by 3.7% in the 4th quarter. F&V Capital Management LLC now owns 93,538 shares of the semiconductor company's stock worth $6,541,000 after purchasing an additional 3,335 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

QRVO has been the topic of a number of research reports. Mizuho increased their price objective on shares of Qorvo from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Morgan Stanley upgraded shares of Qorvo from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $90.00 to $106.00 in a report on Tuesday, January 21st. TD Cowen dropped their target price on shares of Qorvo from $90.00 to $80.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Loop Capital dropped their target price on Qorvo from $90.00 to $75.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Finally, Citigroup lowered their target price on Qorvo from $72.00 to $69.00 and set a "sell" rating for the company in a research note on Wednesday, January 29th. Three 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.com, the stock has an average rating of "Hold" and an average price target of $91.21.

Insider Activity at Qorvo

In related news, Director John R. Harding sold 1,450 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director now owns 7,597 shares in the company, valued at $532,473.73. The trade was a 16.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is owned by corporate insiders.

Qorvo Trading Down 0.4%

QRVO stock traded down $0.35 on Tuesday, hitting $78.47. 73,030 shares of the company were exchanged, compared to its average volume of 2,179,267. The stock has a market capitalization of $7.33 billion, a price-to-earnings ratio of 279.91, a price-to-earnings-growth ratio of 15.57 and a beta of 1.38. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. The business's fifty day moving average is $67.25 and its two-hundred day moving average is $71.35. Qorvo, Inc. has a twelve month low of $49.46 and a twelve month high of $130.99.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.42. Qorvo had a return on equity of 12.41% and a net margin of 0.71%. The firm had revenue of $869.47 million during the quarter, compared to analysts' expectations of $850.13 million. During the same quarter in the prior year, the business earned $1.39 EPS. Qorvo's quarterly revenue was down 7.6% compared to the same quarter last year. As a group, research analysts forecast that Qorvo, Inc. will post 4.09 earnings per share for the current year.

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.