Fisher Asset Management LLC Trims Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

Fisher Asset Management LLC decreased its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 13.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 538,634 shares of the semiconductor company's stock after selling 85,436 shares during the quarter. Fisher Asset Management LLC owned about 0.56% of Qorvo worth $60,656,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. FFT Wealth Management LLC bought a new stake in shares of Qorvo in the 4th quarter worth about $1,286,000. Victory Capital Management Inc. boosted its position in shares of Qorvo by 14.5% during the fourth quarter. Victory Capital Management Inc. now owns 45,743 shares of the semiconductor company's stock valued at $5,151,000 after buying an additional 5,810 shares during the period. Van ECK Associates Corp grew its stake in shares of Qorvo by 26.1% during the fourth quarter. Van ECK Associates Corp now owns 503,176 shares of the semiconductor company's stock valued at $56,663,000 after buying an additional 104,215 shares during the last quarter. Russell Investments Group Ltd. grew its position in Qorvo by 31.0% in the 4th quarter. Russell Investments Group Ltd. now owns 283,785 shares of the semiconductor company's stock valued at $31,967,000 after acquiring an additional 67,100 shares during the last quarter. Finally, Alexander Randolph Advisory Inc. purchased a new stake in shares of Qorvo during the fourth quarter valued at $1,529,000. Hedge funds and other institutional investors own 88.57% of the company's stock.

Qorvo Stock Up 0.3 %

Shares of Qorvo stock traded up $0.28 on Friday, reaching $95.95. The stock had a trading volume of 2,424,521 shares, compared to its average volume of 1,436,907. The company has a 50 day moving average price of $113.15 and a 200 day moving average price of $105.68. The company has a quick ratio of 1.33, a current ratio of 1.99 and a debt-to-equity ratio of 0.44. Qorvo, Inc. has a 1 year low of $80.62 and a 1 year high of $121.65. The stock has a market capitalization of $9.26 billion, a P/E ratio of -131.44, a P/E/G ratio of 0.74 and a beta of 1.53.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.18. Qorvo had a negative net margin of 1.86% and a positive return on equity of 13.43%. The firm had revenue of $941.00 million for the quarter, compared to the consensus estimate of $927.24 million. During the same quarter in the previous year, the firm earned $0.11 EPS. The company's quarterly revenue was up 48.7% compared to the same quarter last year. As a group, equities research analysts forecast that Qorvo, Inc. will post 6.69 EPS for the current year.

Insider Buying and Selling

In related news, SVP Steven E. Creviston sold 3,000 shares of Qorvo stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $120.00, for a total value of $360,000.00. Following the completion of the sale, the senior vice president now directly owns 77,552 shares in the company, valued at approximately $9,306,240. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Steven E. Creviston sold 3,000 shares of Qorvo stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $120.00, for a total value of $360,000.00. Following the completion of the sale, the senior vice president now directly owns 77,552 shares in the company, valued at approximately $9,306,240. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gina Harrison sold 354 shares of Qorvo 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 $40,356.00. Following the completion of the sale, the vice president now owns 18,442 shares of the company's stock, valued at $2,102,388. The disclosure for this sale can be found here. Insiders sold 6,381 shares of company stock worth $745,434 in the last three months. Corporate insiders own 0.43% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Barclays reduced their price target on shares of Qorvo from $110.00 to $100.00 and set an "equal weight" rating on the stock in a research note on Thursday. The Goldman Sachs Group lowered their target price on Qorvo from $117.00 to $105.00 and set a "neutral" rating for the company in a report on Friday. Susquehanna cut their price target on Qorvo from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Thursday. Rosenblatt Securities lifted their price objective on Qorvo from $95.00 to $105.00 and gave the company a "neutral" rating in a report on Thursday, February 1st. Finally, Craig Hallum increased 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. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $110.83.

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.