Ninety One UK Ltd Sells 25,161 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Ninety One UK Ltd lessened its holdings in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 4.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 531,443 shares of the semiconductor company's stock after selling 25,161 shares during the quarter. Ninety One UK Ltd owned approximately 0.55% of Qorvo worth $59,846,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Federated Hermes Inc. boosted its position in shares of Qorvo by 9.8% in the 4th quarter. Federated Hermes Inc. now owns 237,251 shares of the semiconductor company's stock worth $26,717,000 after purchasing an additional 21,093 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Qorvo by 10.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 9,175 shares of the semiconductor company's stock worth $1,033,000 after acquiring an additional 896 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in Qorvo during the 4th quarter worth approximately $206,000. Lecap Asset Management Ltd. acquired a new position in Qorvo during the fourth quarter valued at approximately $459,000. Finally, Louisiana State Employees Retirement System bought a new stake in Qorvo in the fourth quarter valued at approximately $664,000. Institutional investors and hedge funds own 88.57% of the company's stock.

Analyst Ratings Changes

QRVO has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Qorvo from $95.00 to $105.00 and gave the company an "underweight" rating in a report on Thursday, February 1st. Raymond James raised their price target on Qorvo from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, February 1st. Rosenblatt Securities boosted their price objective on Qorvo from $95.00 to $105.00 and gave the company a "neutral" rating in a research report on Thursday, February 1st. Craig Hallum raised their target price on shares of Qorvo from $110.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, February 1st. Finally, Piper Sandler cut their price target on shares of Qorvo from $120.00 to $105.00 and set a "neutral" rating on the stock in a research note on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $111.53.

Qorvo Stock Down 1.9 %

Shares of NASDAQ:QRVO traded down $2.11 during midday trading on Thursday, reaching $107.84. The company had a trading volume of 1,482,099 shares, compared to its average volume of 1,264,701. Qorvo, Inc. has a 1-year low of $80.62 and a 1-year high of $121.65. The stock has a market cap of $10.41 billion, a PE ratio of -50.63, a P/E/G ratio of 0.85 and a beta of 1.56. The company has a quick ratio of 1.33, a current ratio of 1.90 and a debt-to-equity ratio of 0.43. The business's 50 day moving average price is $113.98 and its 200 day moving average price is $104.37.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.47. Qorvo had a positive return on equity of 10.41% and a negative net margin of 6.11%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1 billion. Research analysts forecast that Qorvo, Inc. will post 4.95 EPS for the current fiscal year.

Insider Activity

In other Qorvo news, SVP Paul J. Fego sold 3,027 shares of the business's stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $345,078.00. Following the transaction, the senior vice president now owns 29,705 shares of the company's stock, valued at $3,386,370. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Steven E. Creviston sold 3,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $120.00, for a total value of $360,000.00. Following the transaction, the senior vice president now directly owns 77,552 shares of the company's stock, valued at $9,306,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Paul J. Fego sold 3,027 shares of Qorvo stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $345,078.00. Following the sale, the senior vice president now directly owns 29,705 shares of the company's stock, valued at approximately $3,386,370. The disclosure for this sale can be found here. Insiders sold a total of 6,381 shares of company stock valued at $745,434 in the last quarter. Company insiders own 0.43% of the company's stock.

About Qorvo

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.