Nordea Investment Management AB Cuts Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Nordea Investment Management AB cut its holdings in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 6.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 404,973 shares of the semiconductor company's stock after selling 29,781 shares during the quarter. Nordea Investment Management AB owned approximately 0.43% of Qorvo worth $28,316,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in shares of Qorvo by 33.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company's stock valued at $43,000 after purchasing an additional 104 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in Qorvo by 5.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company's stock valued at $231,000 after purchasing an additional 107 shares during the last quarter. American Trust boosted its position in Qorvo by 5.8% in the second quarter. American Trust now owns 2,110 shares of the semiconductor company's stock valued at $245,000 after buying an additional 115 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in shares of Qorvo by 3.7% during the third quarter. Verdence Capital Advisors LLC now owns 3,884 shares of the semiconductor company's stock worth $401,000 after buying an additional 140 shares during the last quarter. Finally, Narwhal Capital Management increased its holdings in shares of Qorvo by 7.7% during the third quarter. Narwhal Capital Management now owns 2,240 shares of the semiconductor company's stock worth $231,000 after buying an additional 160 shares in the last quarter. Institutional investors own 88.57% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on QRVO shares. Loop Capital began coverage on Qorvo in a report on Monday, November 11th. They set a "hold" rating and a $73.00 price objective on the stock. StockNews.com lowered shares of Qorvo from a "buy" rating to a "hold" rating in a report on Tuesday, December 17th. Mizuho cut their target price on Qorvo from $98.00 to $80.00 and set a "neutral" rating on the stock in a report on Tuesday. BNP Paribas lowered Qorvo from an "outperform" rating to a "neutral" rating and set a $80.00 price target on the stock. in a research report on Wednesday, October 30th. Finally, Benchmark downgraded Qorvo from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $101.41.

Insider Transactions at Qorvo

In other news, SVP Philip Chesley sold 4,045 shares of the firm's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $70.15, for a total value of $283,756.75. Following the transaction, the senior vice president now 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is currently owned by insiders.

Qorvo Stock Down 0.7 %

Qorvo stock traded down $0.55 during midday trading on Wednesday, reaching $73.08. The stock had a trading volume of 3,260,765 shares, compared to its average volume of 2,774,353. The company has a fifty day moving average price of $69.69 and a two-hundred day moving average price of $95.70. The company has a market capitalization of $6.91 billion, a P/E ratio of -50.05, a PEG ratio of 5.58 and a beta of 1.40. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. Qorvo, Inc. has a 12 month low of $64.54 and a 12 month high of $130.99.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.85 by $0.03. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the company posted $1.99 earnings per share. The company's quarterly revenue was down 5.2% on a year-over-year basis. As a group, equities analysts expect that Qorvo, Inc. will post 3.37 EPS for the current fiscal year.

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.