Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. lessened its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,995 shares of the semiconductor company’s stock after selling 173 shares during the period. Vontobel Holding Ltd.’s holdings in Qorvo were worth $1,032,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Capital Research Global Investors increased its position in shares of Qorvo by 2.1% in the 1st quarter. Capital Research Global Investors now owns 4,591,985 shares of the semiconductor company’s stock valued at $527,298,000 after purchasing an additional 93,068 shares during the last quarter. Vulcan Value Partners LLC grew its stake in shares of 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 purchasing an additional 550,111 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Qorvo by 17,255.9% in the second quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company’s stock valued at $165,590,000 after buying an additional 1,418,784 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Qorvo by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,323,463 shares of the semiconductor company’s stock valued at $153,558,000 after buying an additional 4,386 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its holdings in Qorvo by 20.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 780,203 shares of the semiconductor company’s stock worth $90,535,000 after buying an additional 132,866 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Insider Activity at Qorvo

In other Qorvo news, VP Gina Harrison sold 689 shares of the firm’s stock in a transaction on 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 transaction, the vice president now owns 21,601 shares of the company’s stock, valued at approximately $2,325,779.67. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.46% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on QRVO. The Goldman Sachs Group upped their price target on Qorvo from $105.00 to $118.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. TD Cowen upgraded shares of Qorvo to a “hold” rating in a research note on Monday, September 16th. Barclays decreased their price objective on shares of Qorvo from $125.00 to $120.00 and set an “equal weight” rating for the company in a research note on Thursday, October 10th. Susquehanna dropped their price target on Qorvo from $145.00 to $135.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Finally, Morgan Stanley downgraded shares of Qorvo from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $130.00 to $120.00 in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Qorvo currently has an average rating of “Hold” and a consensus price target of $122.71.

Qorvo Stock Performance

Shares of QRVO opened at $104.50 on Monday. The company has a quick ratio of 1.36, a current ratio of 1.95 and a debt-to-equity ratio of 0.44. The company has a 50-day simple moving average of $106.29 and a 200-day simple moving average of $108.71. Qorvo, Inc. has a 52-week low of $80.62 and a 52-week high of $130.99. The company has a market capitalization of $9.93 billion, a PE ratio of -143.15, a P/E/G ratio of 1.26 and a beta of 1.45.

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

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.