Fisher Asset Management LLC Has $60.78 Million Position in Qorvo, Inc. (NASDAQ:QRVO)

Fisher Asset Management LLC reduced its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 13.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 539,743 shares of the semiconductor company’s stock after selling 84,327 shares during the quarter. Fisher Asset Management LLC owned 0.56% of Qorvo worth $60,780,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in shares of Qorvo in the fourth quarter worth $104,000. Quadrant Capital Group LLC increased its stake in shares of Qorvo by 18.7% in the fourth quarter. Quadrant Capital Group LLC now owns 951 shares of the semiconductor company’s stock worth $107,000 after acquiring an additional 150 shares during the last quarter. Wahed Invest LLC increased its stake in shares of Qorvo by 7.5% in the third quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company’s stock worth $147,000 after acquiring an additional 108 shares during the last quarter. William Blair Investment Management LLC acquired a new position in shares of Qorvo in the third quarter worth $203,000. Finally, Bleakley Financial Group LLC acquired a new position in shares of Qorvo in the fourth quarter worth $204,000. 88.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on QRVO shares. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $105.00 price target on shares of Qorvo in a research note on Wednesday, June 12th. The Goldman Sachs Group decreased their price objective on shares of Qorvo from $117.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Susquehanna decreased their price objective on shares of Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Mizuho decreased their price objective on shares of Qorvo from $115.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $110.00 price objective on shares of Qorvo in a report on Wednesday, June 12th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $110.83.

Qorvo Stock Down 0.9 %

QRVO stock opened at $112.38 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.41 and a current ratio of 1.99. Qorvo, Inc. has a 52-week low of $80.62 and a 52-week high of $121.65. The company has a 50-day moving average of $104.15 and a two-hundred day moving average of $107.75.

Qorvo (NASDAQ:QRVO) last released its earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.18. Qorvo had a negative net margin of 1.86% and a positive return on equity of 13.43%. The business had revenue of $941.00 million during the quarter, compared to analysts’ expectations of $927.24 million. During the same quarter last year, the company earned $0.11 earnings per share. The firm’s revenue was up 48.7% on a year-over-year basis. Equities analysts anticipate that Qorvo, Inc. will post 5.16 EPS for the current year.

Insider Activity at Qorvo

In related news, CEO Robert A. Bruggeworth sold 15,279 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $100.00, for a total value of $1,527,900.00. Following the completion of the sale, the chief executive officer now owns 190,161 shares in the company, valued at $19,016,100. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director John R. Harding sold 941 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $97.36, for a total value of $91,615.76. Following the completion of the transaction, the director now owns 6,950 shares of the company’s stock, valued at $676,652. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert A. Bruggeworth sold 15,279 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $100.00, for a total transaction of $1,527,900.00. Following the completion of the transaction, the chief executive officer now directly owns 190,161 shares of the company’s stock, valued at approximately $19,016,100. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,372 shares of company stock worth $4,517,858. Company insiders own 0.43% of the company’s stock.

About Qorvo

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.