Gotham Asset Management LLC Has $7.70 Million Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

Gotham Asset Management LLC decreased its holdings in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 29.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 110,084 shares of the semiconductor company's stock after selling 45,187 shares during the quarter. Gotham Asset Management LLC owned approximately 0.12% of Qorvo worth $7,698,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of QRVO. Ameriprise Financial Inc. lifted its stake in shares of Qorvo by 102.0% in the fourth quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company's stock worth $251,577,000 after acquiring an additional 1,816,811 shares in the last quarter. Norges Bank acquired a new position in shares of Qorvo in the fourth quarter worth about $71,825,000. Amundi lifted its stake in shares of Qorvo by 84.4% in the fourth quarter. Amundi now owns 2,143,858 shares of the semiconductor company's stock worth $156,673,000 after acquiring an additional 981,519 shares in the last quarter. Wealthfront Advisers LLC lifted its stake in shares of Qorvo by 8,535.6% in the fourth quarter. Wealthfront Advisers LLC now owns 931,690 shares of the semiconductor company's stock worth $65,153,000 after acquiring an additional 920,901 shares in the last quarter. Finally, Vulcan Value Partners LLC lifted its stake in shares of Qorvo by 53.7% in the fourth quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company's stock worth $180,487,000 after acquiring an additional 902,353 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company's stock.

Qorvo Stock Up 1.6%

Shares of QRVO traded up $1.22 during mid-day trading on Friday, reaching $79.64. The company's stock had a trading volume of 1,290,073 shares, compared to its average volume of 2,183,996. The business has a fifty day moving average of $66.89 and a 200 day moving average of $71.46. The company has a market cap of $7.44 billion, a price-to-earnings ratio of 284.43, a price-to-earnings-growth ratio of 15.57 and a beta of 1.38. Qorvo, Inc. has a 1 year low of $49.46 and a 1 year high of $130.99. 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 issued its earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.42. The firm had revenue of $869.47 million for the quarter, compared to the consensus estimate of $850.13 million. Qorvo had a return on equity of 12.41% and a net margin of 0.71%. The business's quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 earnings per share. As a group, analysts forecast that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Qorvo news, Director John R. Harding sold 1,450 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was 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 trade represents a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Citigroup cut their price objective on Qorvo from $72.00 to $69.00 and set a "sell" rating on the stock in a research note on Wednesday, January 29th. Stifel Nicolaus set a $75.00 price objective on Qorvo in a research note on Monday, April 28th. Loop Capital cut their price objective on Qorvo from $90.00 to $75.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Benchmark upgraded Qorvo from a "hold" rating to a "buy" rating and set a $95.00 price objective on the stock in a research note on Wednesday, April 30th. Finally, StockNews.com upgraded Qorvo from a "hold" rating to a "buy" rating in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus 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.