Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC decreased its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 2.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,298,191 shares of the semiconductor company's stock after selling 61,944 shares during the period. Geode Capital Management LLC owned about 2.43% of Qorvo worth $236,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in QRVO. Farther Finance Advisors LLC raised its position in Qorvo by 33.7% during the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company's stock worth $43,000 after acquiring an additional 104 shares during the period. V Square Quantitative Management LLC increased its stake in shares of Qorvo by 5.0% during the third quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company's stock worth $231,000 after purchasing an additional 107 shares in the last quarter. American Trust raised its position in shares of Qorvo by 5.8% during the 2nd quarter. American Trust now owns 2,110 shares of the semiconductor company's stock worth $245,000 after purchasing an additional 115 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in Qorvo by 3.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,884 shares of the semiconductor company's stock valued at $401,000 after buying an additional 140 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Qorvo by 1.6% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,526 shares of the semiconductor company's stock valued at $1,105,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company's stock.

Insider Buying and Selling

In other news, SVP Philip Chesley sold 4,045 shares of the firm's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $70.15, for a total transaction of $283,756.75. Following the completion of the transaction, the senior vice president now directly owns 30,261 shares in the company, valued at $2,122,809.15. This trade represents a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Qorvo Trading Down 0.1 %

Shares of Qorvo stock traded down $0.05 during trading hours on Friday, hitting $69.59. The company's stock had a trading volume of 2,631,489 shares, compared to its average volume of 1,904,939. The stock has a market cap of $6.58 billion, a price-to-earnings ratio of -47.66, a P/E/G ratio of 5.58 and a beta of 1.42. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99. The firm has a fifty day moving average of $80.23 and a 200-day moving average of $100.07.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, beating analysts' consensus estimates of $1.85 by $0.03. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The company had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the prior year, the company posted $1.99 earnings per share. Qorvo's revenue for the quarter was down 5.2% compared to the same quarter last year. Research analysts forecast that Qorvo, Inc. will post 3.37 EPS for the current year.

Analyst Upgrades and Downgrades

QRVO has been the subject of a number of research analyst reports. Craig Hallum reduced their target price on Qorvo from $142.00 to $105.00 and set a "buy" rating for the company in a report on Wednesday, October 30th. Barclays reduced their price objective on Qorvo from $120.00 to $90.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 30th. TD Cowen lowered their target price on shares of Qorvo from $125.00 to $85.00 and set a "hold" rating on the stock in a research note on Wednesday, October 30th. Susquehanna reduced their target price on shares of Qorvo from $115.00 to $90.00 and set a "neutral" rating for the company in a research report on Wednesday, October 30th. Finally, Piper Sandler decreased their price target on shares of Qorvo from $120.00 to $100.00 and set a "neutral" rating on the stock in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Qorvo currently has a consensus rating of "Hold" and a consensus price target of $102.88.

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.