Healthcare of Ontario Pension Plan Trust Fund Sells 2,434 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Healthcare of Ontario Pension Plan Trust Fund trimmed its stake in Qorvo, Inc. (NASDAQ:QRVO) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,230 shares of the semiconductor company’s stock after selling 2,434 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Qorvo were worth $4,981,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of QRVO. Highland Capital Management LLC boosted its position in shares of Qorvo by 48.9% during the fourth quarter. Highland Capital Management LLC now owns 42,790 shares of the semiconductor company’s stock valued at $4,819,000 after purchasing an additional 14,060 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Qorvo by 298.9% during the 4th quarter. SG Americas Securities LLC now owns 17,803 shares of the semiconductor company’s stock valued at $2,005,000 after buying an additional 13,340 shares in the last quarter. FIL Ltd grew its position in shares of Qorvo by 4.5% in the 4th quarter. FIL Ltd now owns 2,778,629 shares of the semiconductor company’s stock worth $312,901,000 after buying an additional 120,213 shares during the period. Rafferty Asset Management LLC increased its stake in shares of Qorvo by 14.6% in the 4th quarter. Rafferty Asset Management LLC now owns 647,517 shares of the semiconductor company’s stock worth $72,917,000 after acquiring an additional 82,426 shares in the last quarter. Finally, Bridgefront Capital LLC lifted its position in Qorvo by 28.6% during the 4th quarter. Bridgefront Capital LLC now owns 3,773 shares of the semiconductor company’s stock valued at $425,000 after acquiring an additional 838 shares during the period. Institutional investors own 88.57% of the company’s stock.

Wall Street Analysts Forecast Growth

QRVO has been the subject of a number of analyst reports. Barclays decreased their target price on shares of Qorvo from $110.00 to $100.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Benchmark reduced their price objective on Qorvo from $136.00 to $128.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Mizuho dropped their target price on Qorvo from $115.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. The Goldman Sachs Group reduced their price target on Qorvo from $117.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $105.00 price target on shares of Qorvo in a research report on Wednesday, June 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Qorvo presently has an average rating of “Hold” and an average target price of $110.83.

Insider Activity

In related news, CEO Robert A. Bruggeworth sold 22,299 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $99.31, for a total value of $2,214,513.69. Following the transaction, the chief executive officer now owns 154,714 shares of the company’s stock, valued at $15,364,647.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Robert A. Bruggeworth sold 22,299 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total value of $2,214,513.69. Following the completion of the sale, the chief executive officer now directly owns 154,714 shares in the company, valued at approximately $15,364,647.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John R. Harding sold 941 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was 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 directly owns 6,950 shares in the company, valued at $676,652. The disclosure for this sale can be found here. Insiders sold 45,372 shares of company stock valued at $4,517,858 in the last quarter. 0.43% of the stock is currently owned by insiders.

Qorvo Stock Up 0.4 %

Shares of QRVO opened at $114.71 on Wednesday. The firm has a fifty day simple moving average of $104.11 and a two-hundred day simple moving average of $108.00. The company has a current ratio of 1.99, a quick ratio of 1.41 and a debt-to-equity ratio of 0.44. Qorvo, Inc. has a 1-year low of $80.62 and a 1-year high of $121.65.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. Qorvo had a positive return on equity of 13.43% and a negative net margin of 1.86%. The company had revenue of $941.00 million during the quarter, compared to analysts’ expectations of $927.24 million. During the same quarter in the prior year, the business earned $0.11 earnings per share. Qorvo’s revenue for the quarter was up 48.7% compared to the same quarter last year. On average, equities research analysts expect that Qorvo, Inc. will post 5.16 EPS for the current year.

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.