Mitsubishi UFJ Kokusai Asset Management Co. Ltd. trimmed its position in Qorvo, Inc. (NASDAQ:QRVO) by 27.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,593 shares of the semiconductor company’s stock after selling 7,150 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Qorvo were worth $1,314,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Qorvo by 3.6% in the second quarter. Vanguard Group Inc. now owns 12,549,555 shares of the semiconductor company’s stock worth $794,638,000 after purchasing an additional 430,596 shares during the period. Manning & Napier Advisors LLC acquired a new stake in Qorvo in the second quarter worth about $101,456,000. Strs Ohio increased its position in Qorvo by 1.0% in the second quarter. Strs Ohio now owns 885,830 shares of the semiconductor company’s stock worth $56,090,000 after purchasing an additional 9,120 shares during the period. UBS Asset Management Americas Inc. grew its position in shares of Qorvo by 0.6% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 800,170 shares of the semiconductor company’s stock worth $50,667,000 after buying an additional 4,998 shares during the period. Finally, Swiss National Bank grew its position in shares of Qorvo by 1.9% during the 2nd quarter. Swiss National Bank now owns 461,345 shares of the semiconductor company’s stock worth $29,212,000 after buying an additional 8,700 shares during the period. Hedge funds and other institutional investors own 94.55% of the company’s stock.

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Several research firms have recently issued reports on QRVO. Mizuho restated a “hold” rating and set a $70.00 target price on shares of Qorvo in a research report on Friday, August 4th. Canaccord Genuity boosted their target price on Qorvo from $81.00 to $87.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Morgan Stanley boosted their target price on Qorvo from $68.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd. BidaskClub upgraded Qorvo from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Finally, Needham & Company LLC restated a “buy” rating and set a $84.00 target price on shares of Qorvo in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $76.11.

Shares of Qorvo, Inc. (QRVO) opened at $79.08 on Tuesday. The company has a market capitalization of $10,117.17, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.80 and a quick ratio of 2.71. Qorvo, Inc. has a 12 month low of $49.53 and a 12 month high of $81.20.

Qorvo (NASDAQ:QRVO) last released its earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.52. The firm had revenue of $821.60 million for the quarter, compared to analysts’ expectations of $810.47 million. Qorvo had a positive return on equity of 10.77% and a negative net margin of 0.59%. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.29 EPS. equities research analysts expect that Qorvo, Inc. will post 4.74 earnings per share for the current fiscal year.

In other Qorvo news, VP James L. Klein sold 2,600 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $77.58, for a total value of $201,708.00. Following the sale, the vice president now owns 42,993 shares in the company, valued at approximately $3,335,396.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John R. Harding sold 3,260 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $71.79, for a total value of $234,035.40. Following the completion of the sale, the director now owns 6,322 shares in the company, valued at approximately $453,856.38. The disclosure for this sale can be found here. Insiders sold a total of 42,700 shares of company stock worth $3,112,336 in the last 90 days. Company insiders own 0.91% of the company’s stock.

Qorvo Company Profile

Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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