Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 66.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,631 shares of the semiconductor company’s stock after selling 121,578 shares during the quarter. Federated Hermes Inc. owned about 0.07% of Qorvo worth $7,268,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Private Advisor Group LLC purchased a new position in shares of Qorvo during the 4th quarter worth $227,000. Quadrant Capital Group LLC lifted its stake in shares of Qorvo by 18.7% during the 4th quarter. Quadrant Capital Group LLC now owns 951 shares of the semiconductor company’s stock worth $107,000 after purchasing an additional 150 shares during the period. Norges Bank purchased a new position in shares of Qorvo during the 4th quarter worth $118,120,000. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Qorvo by 3.3% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,653 shares of the semiconductor company’s stock worth $1,312,000 after purchasing an additional 370 shares during the period. Finally, Coldstream Capital Management Inc. purchased a new position in shares of Qorvo during the 4th quarter worth $232,000. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Stock Down 0.5 %

Shares of NASDAQ QRVO opened at $100.00 on Wednesday. Qorvo, Inc. has a 12-month low of $80.62 and a 12-month high of $130.99. The company has a market cap of $9.50 billion, a P/E ratio of -136.99, a P/E/G ratio of 1.28 and a beta of 1.46. The company has a current ratio of 1.95, a quick ratio of 1.36 and a debt-to-equity ratio of 0.44. The stock has a fifty day moving average price of $113.71 and a 200 day moving average price of $110.81.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.16. The firm had revenue of $886.70 million during the quarter, compared to the consensus estimate of $851.95 million. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. The firm’s quarterly revenue was up 36.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 EPS. Research analysts anticipate that Qorvo, Inc. will post 4.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Craig Hallum increased their price target on Qorvo from $124.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Rosenblatt Securities increased their target price on Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Needham & Company LLC increased their target price on Qorvo from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group increased their target price on Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Barclays increased their target price on Qorvo from $100.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Qorvo has an average rating of “Hold” and an average price target of $121.00.

Insider Activity

In other news, VP Gina Harrison sold 689 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $107.67, for a total transaction of $74,184.63. Following the completion of the sale, the vice president now directly owns 21,601 shares in the company, valued at $2,325,779.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.46% 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.