Candriam Luxembourg S.C.A. lowered its position in shares of Qorvo Inc (NASDAQ:QRVO) by 86.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,914 shares of the semiconductor company’s stock after selling 37,951 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Qorvo were worth $654,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Ameritas Investment Company LLC acquired a new stake in shares of Qorvo during the 1st quarter worth about $31,000. Signaturefd LLC increased its position in shares of Qorvo by 275.2% during the 1st quarter. Signaturefd LLC now owns 439 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 322 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Qorvo during the 4th quarter worth about $13,163,000. Verus Capital Partners LLC acquired a new stake in shares of Qorvo during the 4th quarter worth about $66,000. Finally, CSat Investment Advisory L.P. increased its position in shares of Qorvo by 32.5% during the 1st quarter. CSat Investment Advisory L.P. now owns 620 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 152 shares in the last quarter. Institutional investors and hedge funds own 88.02% of the company’s stock.

Qorvo stock opened at $128.15 on Friday. The company’s 50 day simple moving average is $112.02 and its 200 day simple moving average is $101.04. Qorvo Inc has a fifty-two week low of $67.54 and a fifty-two week high of $130.86. The firm has a market capitalization of $14.66 billion, a price-to-earnings ratio of 38.60, a PEG ratio of 2.37 and a beta of 1.41. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.14 and a quick ratio of 2.18.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.37. Qorvo had a net margin of 12.05% and a return on equity of 16.15%. The business had revenue of $787.50 million for the quarter, compared to analyst estimates of $729.91 million. During the same quarter last year, the firm earned $1.36 EPS. Qorvo’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, analysts predict that Qorvo Inc will post 4.73 EPS for the current fiscal year.

Several equities research analysts have weighed in on the stock. UBS Group raised their price objective on shares of Qorvo from $91.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Cfra lowered their price objective on shares of Qorvo from $120.00 to $109.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Morgan Stanley raised their price objective on shares of Qorvo from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday. Mizuho raised their price objective on shares of Qorvo from $114.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Wells Fargo & Co raised their price objective on shares of Qorvo from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $121.36.

In related news, CEO Robert A. Bruggeworth sold 15,933 shares of Qorvo stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $102.96, for a total transaction of $1,640,461.68. Following the transaction, the chief executive officer now owns 159,993 shares of the company’s stock, valued at approximately $16,472,879.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Steven E. Creviston sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $102.76, for a total transaction of $205,520.00. Following the sale, the vice president now owns 53,444 shares in the company, valued at $5,491,905.44. The disclosure for this sale can be found here. Insiders have sold a total of 32,877 shares of company stock worth $3,409,446 in the last three months. 0.66% of the stock is owned by insiders.

Qorvo Company Profile

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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