Qorvo, Inc. (NASDAQ:QRVO) Stake Lowered by Barclays PLC

Barclays PLC lowered its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 3.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 869,196 shares of the semiconductor company's stock after selling 28,524 shares during the quarter. Barclays PLC owned 0.92% of Qorvo worth $89,787,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Vulcan Value Partners LLC lifted its holdings in shares of Qorvo by 35.0% during the 2nd quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company's stock valued at $246,665,000 after acquiring an additional 550,111 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Qorvo by 7.1% during the third quarter. Pacer Advisors Inc. now owns 1,528,748 shares of the semiconductor company's stock worth $157,920,000 after purchasing an additional 101,742 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Qorvo by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,323,463 shares of the semiconductor company's stock worth $153,558,000 after buying an additional 4,386 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Qorvo by 140.2% in the third quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company's stock valued at $86,290,000 after buying an additional 487,621 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in Qorvo by 23.9% during the 3rd quarter. Van ECK Associates Corp now owns 832,292 shares of the semiconductor company's stock worth $83,429,000 after acquiring an additional 160,534 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company's stock.

Qorvo Stock Performance

Shares of Qorvo stock traded up $0.58 during trading on Thursday, hitting $69.64. 1,876,365 shares of the stock were exchanged, compared to its average volume of 1,474,158. The stock's fifty day moving average is $81.52 and its 200 day moving average is $100.45. Qorvo, Inc. has a 12 month low of $64.54 and a 12 month high of $130.99. The stock has a market cap of $6.58 billion, a PE ratio of -47.30, a P/E/G ratio of 5.48 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 (NASDAQ:QRVO - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share 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 during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the company earned $1.99 EPS. Qorvo's revenue was down 5.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Qorvo, Inc. will post 3.37 EPS for the current year.

Analyst Ratings Changes

QRVO has been the topic of a number of analyst reports. UBS Group dropped their price objective on shares of Qorvo from $115.00 to $90.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 30th. Barclays dropped their target price on Qorvo from $120.00 to $90.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 30th. Needham & Company LLC assumed coverage on Qorvo in a report on Monday, October 28th. They issued a "buy" rating and a $135.00 price target for the company. Morgan Stanley downgraded Qorvo from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $130.00 to $120.00 in a report on Friday, October 11th. Finally, JPMorgan Chase & Co. cut their target price on Qorvo from $115.00 to $95.00 and set an "underweight" rating on the stock in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Qorvo currently has an average rating of "Hold" and a consensus target price of $102.88.

Insider Transactions at Qorvo

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

Qorvo 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.