Heartland Advisors Inc. Sells 34,718 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Heartland Advisors Inc. cut its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 19.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 143,270 shares of the semiconductor company's stock after selling 34,718 shares during the quarter. Heartland Advisors Inc. owned 0.15% of Qorvo worth $16,134,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Huntington National Bank boosted its stake in Qorvo by 8,090.0% in the third quarter. Huntington National Bank now owns 819 shares of the semiconductor company's stock valued at $78,000 after buying an additional 809 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Qorvo during the fourth quarter worth $104,000. Allworth Financial LP increased its holdings in shares of Qorvo by 16.7% during the third quarter. Allworth Financial LP now owns 1,416 shares of the semiconductor company's stock worth $135,000 after buying an additional 203 shares in the last quarter. Wahed Invest LLC boosted its holdings in shares of Qorvo by 7.5% during the 3rd quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company's stock valued at $147,000 after acquiring an additional 108 shares in the last quarter. Finally, Bleakley Financial Group LLC acquired a new position in Qorvo in the 4th quarter worth about $204,000. 88.57% of the stock is owned by institutional investors.

Qorvo Stock Up 0.7 %

Shares of QRVO traded up $0.70 on Tuesday, reaching $99.05. The company's stock had a trading volume of 922,126 shares, compared to its average volume of 1,341,176. The company has a current ratio of 1.99, a quick ratio of 1.41 and a debt-to-equity ratio of 0.44. Qorvo, Inc. has a twelve month low of $80.62 and a twelve month high of $121.65. The stock has a market capitalization of $9.56 billion, a PE ratio of -135.68, a PEG ratio of 1.18 and a beta of 1.53. The firm has a fifty day moving average of $110.63 and a 200-day moving average of $106.23.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share 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 company had revenue of $941.00 million for the quarter, compared to analyst estimates of $927.24 million. During the same quarter in the prior year, the business posted $0.11 EPS. The firm's revenue was up 48.7% compared to the same quarter last year. Equities analysts predict that Qorvo, Inc. will post 5.16 EPS for the current year.

Insider Buying and Selling at Qorvo

In other news, SVP Paul J. Fego sold 3,027 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $345,078.00. Following the completion of the transaction, the senior vice president now directly owns 29,705 shares of the company's stock, valued at approximately $3,386,370. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director John R. Harding sold 941 shares of the firm's stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $97.36, for a total value of $91,615.76. Following the completion of the transaction, the director now directly owns 6,950 shares of the company's stock, valued at approximately $676,652. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Paul J. Fego sold 3,027 shares of the firm'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 completion of the transaction, the senior vice president now directly owns 29,705 shares of the company's stock, valued at $3,386,370. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,322 shares of company stock worth $837,050. Insiders own 0.43% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on QRVO shares. Needham & Company LLC cut their price target on Qorvo from $125.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, May 2nd. The Goldman Sachs Group decreased their price target on shares of Qorvo from $117.00 to $105.00 and set a "neutral" rating for the company in a research report on Friday, May 3rd. Mizuho lowered their target price on Qorvo from $115.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, May 2nd. Piper Sandler cut their target price on Qorvo from $120.00 to $105.00 and set a "neutral" rating on the stock in a report on Thursday, February 1st. Finally, Benchmark lowered their price objective on Qorvo from $136.00 to $128.00 and set a "buy" rating for the company in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target 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.

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