Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by State Street Corp

State Street Corp decreased its holdings in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 0.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,574,414 shares of the semiconductor company's stock after selling 22,588 shares during the period. State Street Corp owned 4.84% of Qorvo worth $472,537,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its holdings in shares of Qorvo by 17,255.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company's stock worth $165,590,000 after acquiring an additional 1,418,784 shares in the last quarter. Vulcan Value Partners LLC lifted its stake 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 worth $246,665,000 after acquiring an additional 550,111 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Qorvo by 140.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company's stock valued at $86,290,000 after acquiring an additional 487,621 shares during the period. Caxton Associates LP bought a new position in Qorvo in the 2nd quarter valued at $34,812,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in Qorvo by 78.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company's stock worth $55,548,000 after purchasing an additional 236,590 shares during the period. Institutional investors own 88.57% of the company's stock.

Insider Transactions at Qorvo

In other news, SVP Philip Chesley sold 4,045 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total value of $283,756.75. Following the sale, the senior vice president now owns 30,261 shares in the company, valued at $2,122,809.15. This represents a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.46% of the company's stock.

Qorvo Trading Up 1.7 %

Shares of Qorvo stock traded up $1.18 on Monday, reaching $69.51. The stock had a trading volume of 2,339,479 shares, compared to its average volume of 1,470,529. Qorvo, Inc. has a 1 year low of $64.54 and a 1 year high of $130.99. The company has a quick ratio of 1.38, a current ratio of 1.90 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average price of $83.48 and a 200 day moving average price of $101.07.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on QRVO. Needham & Company LLC started coverage on shares of Qorvo in a research note on Monday, October 28th. They set a "buy" rating and a $135.00 target price for the company. UBS Group dropped their target price 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. BNP Paribas lowered shares of Qorvo from an "outperform" rating to a "neutral" rating and set a $80.00 target price on the stock. in a research report on Wednesday, October 30th. Loop Capital began coverage on Qorvo in a report on Monday, November 11th. They issued a "hold" rating and a $73.00 price target for the company. Finally, Craig Hallum dropped their price objective on Qorvo from $142.00 to $105.00 and set a "buy" rating on the stock in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $102.88.

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.