UMB Bank n.a. Decreases Holdings in Qorvo, Inc. (NASDAQ:QRVO)

UMB Bank n.a. lessened its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 34.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 482 shares of the semiconductor company’s stock after selling 254 shares during the period. UMB Bank n.a.’s holdings in Qorvo were worth $34,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Assenagon Asset Management S.A. raised its holdings in shares of Qorvo by 377.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 816,882 shares of the semiconductor company’s stock valued at $57,125,000 after acquiring an additional 645,829 shares during the last quarter. Vulcan Value Partners LLC boosted its position in Qorvo by 35.0% during the second quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company’s stock worth $246,665,000 after acquiring an additional 550,111 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Qorvo by 140.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company’s stock valued at $86,290,000 after acquiring an additional 487,621 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Qorvo by 78.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company’s stock worth $55,548,000 after purchasing an additional 236,590 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of Qorvo in the third quarter valued at approximately $22,726,000. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Trading Down 1.8 %

NASDAQ QRVO opened at $88.94 on Friday. Qorvo, Inc. has a one year low of $64.54 and a one year high of $130.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90. The firm’s fifty day moving average is $72.18 and its two-hundred day moving average is $92.61. The firm has a market cap of $8.41 billion, a PE ratio of -60.92, a P/E/G ratio of 6.98 and a beta of 1.40.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.99 earnings per share. Analysts expect that Qorvo, Inc. will post 3.37 earnings per share for the current year.

Insider Activity

In related news, SVP Philip Chesley sold 4,045 shares of Qorvo stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $70.15, for a total value of $283,756.75. Following the transaction, the senior vice president now owns 30,261 shares in the company, valued at approximately $2,122,809.15. This trade represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

QRVO has been the topic of a number of recent research reports. UBS Group lowered their price objective on Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Mizuho raised their target price on Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. cut their price objective on Qorvo from $115.00 to $95.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. The Goldman Sachs Group lowered their target price on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Finally, Loop Capital started coverage on shares of Qorvo in a report on Monday, November 11th. They issued a “hold” rating and a $73.00 price objective on the stock. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Qorvo has an average rating of “Hold” and an average target price of $98.24.

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.