Wade G W & Inc. reduced its holdings in Qorvo Inc (NASDAQ:QRVO) by 22.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,536 shares of the semiconductor company’s stock after selling 1,325 shares during the quarter. Wade G W & Inc.’s holdings in Qorvo were worth $349,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. lifted its holdings in Qorvo by 3.2% in the second quarter. BlackRock Inc. now owns 9,015,930 shares of the semiconductor company’s stock valued at $722,806,000 after buying an additional 275,764 shares during the period. Vulcan Value Partners LLC increased its stake in Qorvo by 16.2% in the second quarter. Vulcan Value Partners LLC now owns 7,798,102 shares of the semiconductor company’s stock valued at $625,174,000 after purchasing an additional 1,087,335 shares in the last quarter. Manning & Napier Group LLC increased its stake in Qorvo by 1.8% in the third quarter. Manning & Napier Group LLC now owns 2,954,792 shares of the semiconductor company’s stock valued at $227,192,000 after purchasing an additional 53,355 shares in the last quarter. Boston Partners increased its stake in Qorvo by 1.6% in the second quarter. Boston Partners now owns 2,939,292 shares of the semiconductor company’s stock valued at $235,643,000 after purchasing an additional 45,069 shares in the last quarter. Finally, Iridian Asset Management LLC CT increased its stake in Qorvo by 108.0% in the second quarter. Iridian Asset Management LLC CT now owns 2,569,085 shares of the semiconductor company’s stock valued at $205,964,000 after purchasing an additional 1,334,035 shares in the last quarter. Institutional investors and hedge funds own 94.44% of the company’s stock.

In related news, VP James L. Klein sold 2,093 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $79.88, for a total transaction of $167,188.84. Following the completion of the transaction, the vice president now owns 50,172 shares in the company, valued at $4,007,739.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Gina Harrison sold 1,016 shares of the stock in a transaction on Friday, September 7th. The stock was sold at an average price of $74.00, for a total transaction of $75,184.00. Following the transaction, the vice president now owns 18,381 shares of the company’s stock, valued at approximately $1,360,194. The disclosure for this sale can be found here. Insiders have sold 35,796 shares of company stock valued at $2,577,670 in the last three months. 0.85% of the stock is owned by insiders.

Several brokerages have commented on QRVO. BidaskClub downgraded shares of Qorvo from a “hold” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research reaffirmed a “buy” rating and issued a $88.00 target price on shares of Qorvo in a research note on Wednesday. Loop Capital lowered their target price on shares of Qorvo to $85.00 and set a “buy” rating for the company in a research note on Wednesday. Barclays reaffirmed a “buy” rating and issued a $75.00 target price on shares of Qorvo in a research note on Wednesday. Finally, UBS Group lowered their target price on shares of Qorvo from $83.00 to $68.00 and set a “neutral” rating for the company in a research note on Wednesday. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Qorvo presently has an average rating of “Hold” and a consensus price target of $80.96.

Shares of QRVO stock opened at $62.88 on Thursday. The company has a quick ratio of 2.48, a current ratio of 3.50 and a debt-to-equity ratio of 0.16. Qorvo Inc has a 12-month low of $61.00 and a 12-month high of $86.84. The firm has a market cap of $7.97 billion, a PE ratio of 13.15, a P/E/G ratio of 0.91 and a beta of 0.92.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Wednesday, October 31st. The semiconductor company reported $1.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.13. Qorvo had a negative net margin of 1.41% and a positive return on equity of 13.65%. The company had revenue of $884.40 million during the quarter, compared to the consensus estimate of $855.57 million. During the same quarter in the prior year, the firm earned $1.52 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, research analysts anticipate that Qorvo Inc will post 5.66 EPS for the current fiscal year.

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About Qorvo

Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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