Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. trimmed its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 22.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 360,916 shares of the semiconductor company’s stock after selling 105,960 shares during the period. Goldman Sachs Group Inc. owned about 0.37% of Qorvo worth $40,643,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FIL Ltd grew its holdings in Qorvo by 4.5% during the fourth quarter. FIL Ltd now owns 2,778,629 shares of the semiconductor company’s stock worth $312,901,000 after acquiring an additional 120,213 shares during the period. Invesco Ltd. grew its holdings in Qorvo by 18.9% in the third quarter. Invesco Ltd. now owns 1,989,776 shares of the semiconductor company’s stock valued at $189,964,000 after purchasing an additional 316,328 shares during the period. Boston Partners grew its holdings in Qorvo by 0.5% in the fourth quarter. Boston Partners now owns 1,436,328 shares of the semiconductor company’s stock valued at $161,726,000 after purchasing an additional 6,558 shares during the period. Norges Bank acquired a new stake in Qorvo in the fourth quarter valued at approximately $118,120,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Qorvo by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 916,073 shares of the semiconductor company’s stock valued at $103,159,000 after purchasing an additional 22,951 shares during the period. 88.57% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Qorvo

In other Qorvo news, CEO Robert A. Bruggeworth sold 15,279 shares of Qorvo stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $100.00, for a total value of $1,527,900.00. Following 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Robert A. Bruggeworth sold 4,721 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $100.00, for a total value of $472,100.00. Following the completion of the sale, the chief executive officer now directly owns 205,440 shares of the company’s stock, valued at approximately $20,544,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert A. Bruggeworth sold 15,279 shares of the business’s 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 directly owns 190,161 shares of the company’s stock, valued at $19,016,100. The disclosure for this sale can be found here. Insiders have sold 45,372 shares of company stock worth $4,517,858 over the last quarter. 0.43% of the stock is currently owned by company insiders.

Qorvo Stock Performance

Shares of Qorvo stock opened at $112.91 on Friday. Qorvo, Inc. has a one year low of $80.62 and a one year high of $121.65. The company has a market cap of $10.80 billion, a price-to-earnings ratio of -154.67, a PEG ratio of 1.11 and a beta of 1.44. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.41 and a current ratio of 1.99. The business’s 50 day moving average price is $104.08 and its 200 day moving average price is $108.08.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.39 EPS for the quarter, topping 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 firm had revenue of $941.00 million for the quarter, compared to the consensus estimate of $927.24 million. During the same quarter last year, the business posted $0.11 earnings per share. The firm’s revenue was up 48.7% compared to the same quarter last year. On average, research analysts predict that Qorvo, Inc. will post 5.16 EPS for the current year.

Analysts Set New Price Targets

QRVO has been the topic of several research analyst reports. Mizuho dropped their price objective on Qorvo from $115.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. JPMorgan Chase & Co. dropped their price objective on Qorvo from $105.00 to $100.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. Rosenblatt Securities reissued a “neutral” rating and issued a $105.00 price objective on shares of Qorvo in a report on Wednesday, June 12th. StockNews.com upgraded Qorvo from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Needham & Company LLC restated a “buy” rating and issued a $110.00 target price on shares of Qorvo in a research report on Wednesday, June 12th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $110.83.

Qorvo Company Profile

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.