QRG Capital Management Inc. Sells 43,836 Shares of Qorvo, Inc. (NASDAQ:QRVO)

QRG Capital Management Inc. reduced its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 78.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,337 shares of the semiconductor company's stock after selling 43,836 shares during the quarter. QRG Capital Management Inc.'s holdings in Qorvo were worth $1,389,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Huntington National Bank lifted its holdings in Qorvo by 8,090.0% in the 3rd quarter. Huntington National Bank now owns 819 shares of the semiconductor company's stock valued at $78,000 after acquiring an additional 809 shares during the last quarter. GAMMA Investing LLC bought a new stake in Qorvo during the fourth quarter worth approximately $104,000. Allworth Financial LP grew its position in Qorvo by 16.7% in 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 during the last quarter. Wahed Invest LLC increased its holdings in shares of Qorvo by 7.5% in the third quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company's stock valued at $147,000 after buying an additional 108 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in shares of Qorvo during the 3rd quarter valued at $203,000. Institutional investors and hedge funds own 88.57% of the company's stock.

Insider Transactions at Qorvo

In other Qorvo news, SVP Steven E. Creviston sold 3,000 shares of the firm's 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 completion of the sale, the senior vice president now owns 77,552 shares in the company, valued at approximately $9,306,240. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other 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 transaction of $360,000.00. Following the completion of the sale, the senior vice president now owns 77,552 shares in the company, valued at approximately $9,306,240. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John R. Harding sold 941 shares of the company's stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $97.36, for a total transaction of $91,615.76. Following the sale, the director now owns 6,950 shares of the company's stock, valued at approximately $676,652. The disclosure for this sale can be found here. Company insiders own 0.43% of the company's stock.

Qorvo Price Performance

QRVO traded down $0.40 during midday trading on Thursday, reaching $99.51. 1,149,899 shares of the company's stock were exchanged, compared to its average volume of 1,337,628. The company has a quick ratio of 1.41, a current ratio of 1.99 and a debt-to-equity ratio of 0.44. The business has a 50-day simple moving average of $110.31 and a two-hundred day simple moving average of $106.19. The firm has a market capitalization of $9.61 billion, a price-to-earnings ratio of -137.77, a price-to-earnings-growth ratio of 1.19 and a beta of 1.53. Qorvo, Inc. has a one year low of $80.62 and a one year high of $121.65.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.21 by $0.18. The business had revenue of $941.00 million for the quarter, compared to analyst estimates of $927.24 million. Qorvo had a positive return on equity of 13.43% and a negative net margin of 1.86%. Qorvo's quarterly revenue was up 48.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.11 EPS. As a group, research analysts predict that Qorvo, Inc. will post 5.16 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on QRVO. Benchmark decreased their target price on Qorvo from $136.00 to $128.00 and set a "buy" rating on the stock in a report on Thursday, May 2nd. StockNews.com cut shares of Qorvo from a "buy" rating to a "hold" rating in a report on Saturday, May 11th. Mizuho dropped their target price on shares of Qorvo from $115.00 to $105.00 and set a "neutral" rating on the stock in a research report on Thursday, May 2nd. Barclays reduced their price target on shares of Qorvo from $110.00 to $100.00 and set an "equal weight" rating for the company in a research report on Thursday, May 2nd. Finally, Raymond James lifted their price objective on shares of Qorvo from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average 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.