Migdal Insurance & Financial Holdings Ltd. Sells 144 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Migdal Insurance & Financial Holdings Ltd. lessened its stake in Qorvo, Inc. (NASDAQ:QRVO) by 15.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 788 shares of the semiconductor company’s stock after selling 144 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Qorvo were worth $90,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in QRVO. Barclays PLC grew its position in shares of Qorvo by 646.2% in the 3rd quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company’s stock valued at $369,091,000 after buying an additional 3,347,972 shares during the last quarter. Norges Bank acquired a new position in shares of Qorvo in the 4th quarter valued at about $101,478,000. UBS Group AG lifted its stake in shares of Qorvo by 491.9% in the 3rd quarter. UBS Group AG now owns 1,267,273 shares of the semiconductor company’s stock valued at $120,987,000 after purchasing an additional 1,053,157 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Qorvo by 142.1% in the 1st quarter. JPMorgan Chase & Co. now owns 1,271,221 shares of the semiconductor company’s stock valued at $129,119,000 after purchasing an additional 746,216 shares during the period. Finally, Baupost Group LLC MA lifted its stake in shares of Qorvo by 11.8% in the 1st quarter. Baupost Group LLC MA now owns 6,645,712 shares of the semiconductor company’s stock valued at $824,733,000 after purchasing an additional 699,968 shares during the period. Institutional investors own 88.57% of the company’s stock.

Qorvo Price Performance

QRVO stock opened at $107.84 on Friday. The business has a 50 day moving average of $113.89 and a 200-day moving average of $104.39. Qorvo, Inc. has a 12-month low of $80.62 and a 12-month high of $121.65. The company has a quick ratio of 1.33, a current ratio of 1.90 and a debt-to-equity ratio of 0.43.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.47. Qorvo had a positive return on equity of 10.41% and a negative net margin of 6.11%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1 billion. On average, sell-side analysts predict that Qorvo, Inc. will post 4.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Qorvo

In other Qorvo news, SVP Paul J. Fego sold 3,027 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $345,078.00. Following the completion of the transaction, the senior vice president now directly owns 29,705 shares of the company’s stock, valued at $3,386,370. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Paul J. Fego sold 3,027 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $345,078.00. Following the completion of the transaction, the senior vice president now directly owns 29,705 shares of the company’s stock, valued at $3,386,370. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Steven E. Creviston sold 3,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $120.00, for a total value of $360,000.00. Following the completion of the transaction, the senior vice president now directly owns 77,552 shares of the company’s stock, valued at $9,306,240. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,381 shares of company stock valued at $745,434. Company insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on QRVO. JPMorgan Chase & Co. upped their price target on Qorvo from $95.00 to $105.00 and gave the stock an “underweight” rating in a research note on Thursday, February 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $125.00 price target on shares of Qorvo in a research note on Thursday, February 1st. The Goldman Sachs Group upped their price target on Qorvo from $104.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Rosenblatt Securities upped their price target on Qorvo from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Finally, Susquehanna reaffirmed a “neutral” rating and set a $100.00 price target on shares of Qorvo in a research note on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $111.53.

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.