Mutual of America Capital Management LLC cut its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 10.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,979 shares of the semiconductor company’s stock after selling 1,558 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Qorvo were worth $988,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of QRVO. Thrivent Financial For Lutherans increased its holdings in Qorvo by 1.7% during the 1st quarter. Thrivent Financial For Lutherans now owns 13,800 shares of the semiconductor company’s stock worth $946,000 after purchasing an additional 230 shares during the last quarter. Morgan Stanley grew its stake in Qorvo by 54.0% in the first quarter. Morgan Stanley now owns 271,344 shares of the semiconductor company’s stock valued at $18,604,000 after purchasing an additional 95,111 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in Qorvo in the first quarter valued at about $219,000. Paloma Partners Management Co purchased a new position in Qorvo in the first quarter valued at about $775,000. Finally, Bank of Nova Scotia purchased a new position in Qorvo in the first quarter valued at about $1,785,000. Institutional investors own 94.12% of the company’s stock.
Qorvo, Inc. (NASDAQ:QRVO) opened at $73.84 on Friday. The company has a quick ratio of 2.75, a current ratio of 3.80 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $9,397.47, a PE ratio of 18.46, a P/E/G ratio of 1.19 and a beta of 1.03.
Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.52. The business had revenue of $821.60 million for the quarter, compared to analyst estimates of $810.47 million. Qorvo had a positive return on equity of 10.77% and a negative net margin of 0.59%. Qorvo’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.29 EPS. equities research analysts anticipate that Qorvo, Inc. will post 4.77 EPS for the current year.
QRVO has been the topic of a number of recent research reports. Drexel Hamilton restated a “buy” rating and issued a $95.00 target price on shares of Qorvo in a research note on Tuesday, August 1st. Canaccord Genuity boosted their target price on Qorvo from $79.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. TheStreet downgraded Qorvo from a “b” rating to a “c” rating in a research note on Wednesday, August 2nd. Mizuho restated a “hold” rating and issued a $70.00 target price on shares of Qorvo in a research note on Friday, August 4th. Finally, BidaskClub upgraded Qorvo from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $75.26.
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In other news, Director John R. Harding sold 3,260 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $71.79, for a total value of $234,035.40. Following the transaction, the director now owns 6,322 shares of the company’s stock, valued at approximately $453,856.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Gina Harrison sold 5,000 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $73.41, for a total value of $367,050.00. Following the completion of the transaction, the vice president now directly owns 17,230 shares in the company, valued at approximately $1,264,854.30. The disclosure for this sale can be found here. Insiders sold a total of 67,080 shares of company stock worth $4,788,693 over the last quarter. Corporate insiders own 0.91% of the company’s stock.
Qorvo Company Profile
Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).
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