CHURCHILL MANAGEMENT Corp Boosts Stake in Qorvo, Inc. (QRVO)
CHURCHILL MANAGEMENT Corp grew its position in Qorvo, Inc. (NASDAQ:QRVO) by 13.5% during the 4th quarter, Holdings Channel reports. The firm owned 48,429 shares of the semiconductor company’s stock after purchasing an additional 5,769 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in Qorvo were worth $3,225,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently bought and sold shares of QRVO. F&V Capital Management LLC boosted its stake in shares of Qorvo by 34.4% in the fourth quarter. F&V Capital Management LLC now owns 68,200 shares of the semiconductor company’s stock valued at $4,542,000 after buying an additional 17,460 shares during the period. QUANTRES ASSET MANAGEMENT Ltd bought a new stake in shares of Qorvo in the fourth quarter valued at approximately $1,439,000. Parametric Portfolio Associates LLC boosted its stake in shares of Qorvo by 10.1% in the third quarter. Parametric Portfolio Associates LLC now owns 329,234 shares of the semiconductor company’s stock valued at $23,270,000 after buying an additional 30,198 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in shares of Qorvo in the third quarter valued at approximately $222,000. Finally, Cetera Advisor Networks LLC bought a new stake in shares of Qorvo in the third quarter valued at approximately $219,000. 96.71% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on QRVO. Zacks Investment Research upgraded Qorvo from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. Cowen reiterated a “hold” rating and issued a $85.00 price target on shares of Qorvo in a research note on Sunday, September 17th. ValuEngine cut Qorvo from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. BidaskClub cut Qorvo from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 12th. Finally, Morgan Stanley upped their target price on Qorvo from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 13th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the stock. Qorvo presently has a consensus rating of “Hold” and a consensus target price of $76.89.
Qorvo (NASDAQ:QRVO) last released its earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 earnings per share for the quarter, hitting the consensus estimate of $1.52. The firm had revenue of $821.60 million during 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 company’s quarterly revenue was down 5.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.29 earnings per share. equities analysts anticipate that Qorvo, Inc. will post 4.74 EPS for the current fiscal year.
In other news, Director Daniel A. Dileo sold 2,500 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $80.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director now directly owns 4,622 shares in the company, valued at $369,760. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Steven E. Creviston sold 6,000 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $72.27, for a total transaction of $433,620.00. The disclosure for this sale can be found here. Insiders have sold 58,096 shares of company stock valued at $4,335,007 over the last quarter. Company insiders own 0.91% of the company’s stock.
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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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