Leeward Investments LLC MA Has $12.11 Million Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Leeward Investments LLC MA cut its position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 20.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 117,249 shares of the semiconductor company's stock after selling 30,361 shares during the quarter. Leeward Investments LLC MA owned about 0.12% of Qorvo worth $12,112,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of QRVO. Janney Montgomery Scott LLC purchased a new position in shares of Qorvo in the 1st quarter valued at $811,000. Daiwa Securities Group Inc. boosted its position in shares of Qorvo by 44.4% in the first quarter. Daiwa Securities Group Inc. now owns 13,247 shares of the semiconductor company's stock worth $1,521,000 after buying an additional 4,072 shares during the period. Duality Advisers LP acquired a new stake in shares of Qorvo in the first quarter valued at about $520,000. Empirical Finance LLC raised its holdings in shares of Qorvo by 3.2% during the 1st quarter. Empirical Finance LLC now owns 3,768 shares of the semiconductor company's stock valued at $433,000 after buying an additional 117 shares during the period. Finally, Forsta AP Fonden lifted its position in Qorvo by 7.7% during the 1st quarter. Forsta AP Fonden now owns 16,800 shares of the semiconductor company's stock worth $1,929,000 after acquiring an additional 1,200 shares in the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Qorvo Trading Down 1.1 %

Shares of NASDAQ QRVO traded down $0.80 during mid-day trading on Thursday, hitting $72.06. 2,190,349 shares of the company traded hands, compared to its average volume of 1,417,341. The company has a quick ratio of 1.38, a current ratio of 1.90 and a debt-to-equity ratio of 0.45. Qorvo, Inc. has a 1 year low of $70.39 and a 1 year high of $130.99. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of -49.90, a PEG ratio of 5.72 and a beta of 1.49. The business has a 50 day moving average of $99.96 and a two-hundred day moving average of $106.44.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.03 billion. During the same period last year, the company posted $1.99 earnings per share. The business's revenue for the quarter was down 5.2% on a year-over-year basis. On average, sell-side analysts anticipate that Qorvo, Inc. will post 3.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Qorvo

In related news, VP Gina Harrison sold 689 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $107.67, for a total value of $74,184.63. Following the completion of the sale, the vice president now directly owns 21,601 shares of the company's stock, valued at approximately $2,325,779.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.46% of the company's stock.

Wall Street Analysts Forecast Growth

QRVO has been the subject of several recent research reports. Morgan Stanley downgraded shares of Qorvo from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $130.00 to $120.00 in a research report on Friday, October 11th. Needham & Company LLC started coverage on shares of Qorvo in a report on Monday, October 28th. They issued a "buy" rating and a $135.00 price objective on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Qorvo from $115.00 to $95.00 and set an "underweight" rating for the company in a research report on Wednesday, October 30th. UBS Group dropped their target price on Qorvo from $115.00 to $90.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 30th. Finally, Raymond James downgraded Qorvo from an "outperform" rating to a "market perform" rating in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Qorvo currently has an average rating of "Hold" and an average price target of $104.75.

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.