Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp decreased its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 30.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,639 shares of the semiconductor company's stock after selling 6,734 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Qorvo were worth $1,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Rakuten Securities Inc. bought a new stake in Qorvo in the fourth quarter worth $28,000. Huntington National Bank lifted its position in Qorvo by 47.1% during the fourth quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 145 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Qorvo in the 4th quarter worth $37,000. Venturi Wealth Management LLC grew its stake in shares of Qorvo by 67.4% in the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company's stock worth $43,000 after buying an additional 250 shares in the last quarter. Finally, CENTRAL TRUST Co increased its holdings in shares of Qorvo by 2,621.4% in the 4th quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company's stock worth $53,000 after buying an additional 734 shares during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Qorvo

In other Qorvo news, Director John R. Harding sold 1,450 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total transaction of $101,630.50. Following the transaction, the director now directly owns 7,597 shares in the company, valued at $532,473.73. This represents a 16.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.46% of the company's stock.

Qorvo Trading Down 0.6%

QRVO stock traded down $0.49 during trading on Thursday, hitting $76.02. The company had a trading volume of 189,811 shares, compared to its average volume of 2,186,045. Qorvo, Inc. has a 52-week low of $49.46 and a 52-week high of $130.99. The company has a 50 day simple moving average of $67.55 and a 200-day simple moving average of $71.44. The firm has a market capitalization of $7.10 billion, a P/E ratio of 271.66, a PEG ratio of 15.57 and a beta of 1.38. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46.

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

Analyst Upgrades and Downgrades

QRVO has been the subject of a number of analyst reports. Benchmark raised shares of Qorvo from a "hold" rating to a "buy" rating and set a $95.00 price target for the company in a report on Wednesday, April 30th. Loop Capital decreased their price objective on Qorvo from $90.00 to $75.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Wall Street Zen upgraded Qorvo from a "hold" rating to a "buy" rating in a report on Wednesday, January 29th. Barclays boosted their target price on Qorvo from $60.00 to $70.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Finally, Stifel Nicolaus set a $75.00 price target on Qorvo in a research report on Monday, April 28th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $91.21.

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.