JPMorgan Chase & Co. Sells 539,891 Shares of Qorvo, Inc. (NASDAQ:QRVO)

JPMorgan Chase & Co. lessened its position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 49.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 558,511 shares of the semiconductor company's stock after selling 539,891 shares during the period. JPMorgan Chase & Co. owned approximately 0.59% of Qorvo worth $57,694,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in QRVO. Larson Financial Group LLC grew its position in Qorvo by 163.4% during the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company's stock worth $33,000 after buying an additional 201 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Qorvo during the 3rd quarter valued at about $41,000. Farther Finance Advisors LLC grew its holdings in shares of 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 purchasing an additional 104 shares in the last quarter. UMB Bank n.a. increased its position in shares of Qorvo by 33.8% in the third quarter. UMB Bank n.a. now owns 736 shares of the semiconductor company's stock worth $76,000 after purchasing an additional 186 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Qorvo in the third quarter worth approximately $96,000. Institutional investors own 88.57% of the company's stock.

Insider Buying and Selling

In other Qorvo 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 owns 30,261 shares of the company's stock, valued at approximately $2,122,809.15. This trade represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

QRVO has been the subject of a number of research reports. Susquehanna cut their price target on shares of Qorvo from $115.00 to $90.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th. Bank of America cut their target price on shares of Qorvo from $115.00 to $80.00 and set an "underperform" rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. reduced their price target on shares of Qorvo from $115.00 to $95.00 and set an "underweight" rating on the stock in a research report on Wednesday, October 30th. Raymond James downgraded shares of Qorvo from an "outperform" rating to a "market perform" rating in a research note on Wednesday, October 30th. Finally, UBS Group cut their price objective on shares of Qorvo from $115.00 to $90.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $102.88.

Qorvo Trading Up 1.2 %

QRVO stock traded up $0.87 on Friday, reaching $70.63. The company's stock had a trading volume of 3,891,173 shares, compared to its average volume of 2,870,237. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90. The business has a fifty day simple moving average of $70.79 and a two-hundred day simple moving average of $96.43. The firm has a market cap of $6.68 billion, a PE ratio of -48.38, a PEG ratio of 5.58 and a beta of 1.40. 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 announced its 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 firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm posted $1.99 EPS. The company's revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, research analysts forecast that Qorvo, Inc. will post 3.37 EPS for the current year.

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.