Mercer Global Advisors Inc. ADV Sells 524 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Mercer Global Advisors Inc. ADV reduced its position in Qorvo, Inc. (NASDAQ:QRVO) by 3.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,607 shares of the semiconductor company’s stock after selling 524 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Qorvo were worth $1,569,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Qorvo in the 2nd quarter valued at about $29,000. Park Place Capital Corp increased its holdings in Qorvo by 398.1% in the 1st quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 207 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Qorvo by 81.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 115 shares during the period. Versant Capital Management Inc increased its holdings in Qorvo by 9,333.3% in the 2nd quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 280 shares during the period. Finally, New Millennium Group LLC bought a new stake in shares of Qorvo during the 2nd quarter valued at approximately $34,000. 88.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on QRVO. StockNews.com lowered shares of Qorvo from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. The Goldman Sachs Group lifted their price target on shares of Qorvo from $105.00 to $118.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. TD Cowen raised shares of Qorvo to a “hold” rating in a report on Monday, September 16th. Susquehanna decreased their price target on shares of Qorvo from $145.00 to $135.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Finally, Rosenblatt Securities lifted their price target on shares of Qorvo from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $121.00.

Qorvo Stock Up 0.8 %

Shares of NASDAQ QRVO opened at $102.97 on Wednesday. The company has a market capitalization of $9.79 billion, a P/E ratio of -141.05, a price-to-earnings-growth ratio of 1.23 and a beta of 1.46. Qorvo, Inc. has a 52-week low of $80.62 and a 52-week high of $130.99. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.36 and a current ratio of 1.95. The company’s 50 day moving average price is $111.01 and its 200-day moving average price is $110.15.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. The firm had revenue of $886.70 million for the quarter, compared to the consensus estimate of $851.95 million. Qorvo had a negative net margin of 0.66% and a positive return on equity of 14.92%. The company’s revenue for the quarter was up 36.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.03 EPS. Equities analysts forecast that Qorvo, Inc. will post 4.8 earnings per share for the current year.

Insider Activity

In other news, VP Gina Harrison sold 689 shares of Qorvo stock in a transaction on Friday, September 6th. The shares were sold at an average price of $107.67, for a total value of $74,184.63. Following the completion of the sale, the vice president now owns 21,601 shares in the company, valued at approximately $2,325,779.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is currently owned by company insiders.

Qorvo 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.