Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by PGGM Investments

PGGM Investments lowered its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 10.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,908 shares of the semiconductor company’s stock after selling 720 shares during the period. PGGM Investments’ holdings in Qorvo were worth $686,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Research Global Investors grew its position in Qorvo by 2.1% in the first quarter. Capital Research Global Investors now owns 4,591,985 shares of the semiconductor company’s stock worth $527,298,000 after buying an additional 93,068 shares during the last quarter. FIL Ltd grew its holdings in shares of Qorvo by 4.5% in the 4th quarter. FIL Ltd now owns 2,778,629 shares of the semiconductor company’s stock worth $312,901,000 after acquiring an additional 120,213 shares during the last quarter. Boston Partners raised its position in shares of Qorvo by 0.5% during the fourth quarter. Boston Partners now owns 1,436,328 shares of the semiconductor company’s stock worth $161,726,000 after purchasing an additional 6,558 shares during the period. Norges Bank purchased a new stake in shares of Qorvo during the fourth quarter valued at $118,120,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Qorvo by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 916,073 shares of the semiconductor company’s stock valued at $103,159,000 after purchasing an additional 22,951 shares during the period. 88.57% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Qorvo

In related news, CEO Robert A. Bruggeworth sold 15,279 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $100.00, for a total value of $1,527,900.00. Following the transaction, the chief executive officer now directly owns 190,161 shares of the company’s stock, valued at approximately $19,016,100. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Robert A. Bruggeworth sold 15,279 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $100.00, for a total transaction of $1,527,900.00. Following the completion of the sale, the chief executive officer now directly owns 190,161 shares of the company’s stock, valued at approximately $19,016,100. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert A. Bruggeworth sold 4,721 shares of Qorvo stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $100.00, for a total transaction of $472,100.00. Following the completion of the transaction, the chief executive officer now owns 205,440 shares in the company, valued at approximately $20,544,000. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.

Qorvo Stock Down 2.2 %

NASDAQ:QRVO traded down $2.49 during mid-day trading on Wednesday, reaching $108.52. The stock had a trading volume of 892,377 shares, compared to its average volume of 1,375,191. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.95 and a quick ratio of 1.36. The stock has a market cap of $10.29 billion, a P/E ratio of -148.66, a PEG ratio of 1.28 and a beta of 1.46. The business’s 50 day moving average is $114.95 and its 200 day moving average is $110.85. Qorvo, Inc. has a fifty-two week low of $80.62 and a fifty-two week high of $130.99.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.71 by $0.16. Qorvo had a negative net margin of 0.66% and a positive return on equity of 14.92%. The company had revenue of $886.70 million for the quarter, compared to analyst estimates of $851.95 million. During the same quarter in the prior year, the business posted $0.03 EPS. Qorvo’s quarterly revenue was up 36.2% on a year-over-year basis. As a group, sell-side analysts predict that Qorvo, Inc. will post 4.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on QRVO shares. Craig Hallum boosted their price objective on Qorvo from $124.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price target on shares of Qorvo from $100.00 to $115.00 and gave the company an “underweight” rating in a research report on Wednesday, July 31st. StockNews.com cut shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Susquehanna reduced their target price on Qorvo from $145.00 to $135.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Finally, Benchmark lowered their price target on Qorvo from $136.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $121.00.

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.