Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 49.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 558,511 shares of the semiconductor company’s stock after selling 539,891 shares during the period. JPMorgan Chase & Co. owned 0.59% of Qorvo worth $57,694,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in shares of Qorvo by 33.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 104 shares during the period. V Square Quantitative Management LLC grew its position in Qorvo by 5.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company’s stock worth $231,000 after purchasing an additional 107 shares during the last quarter. American Trust increased its stake in Qorvo by 5.8% in the second quarter. American Trust now owns 2,110 shares of the semiconductor company’s stock valued at $245,000 after purchasing an additional 115 shares during the period. Verdence Capital Advisors LLC raised its holdings in shares of Qorvo by 3.7% in the third quarter. Verdence Capital Advisors LLC now owns 3,884 shares of the semiconductor company’s stock valued at $401,000 after buying an additional 140 shares during the last quarter. Finally, Narwhal Capital Management boosted its stake in shares of Qorvo by 7.7% during the third quarter. Narwhal Capital Management now owns 2,240 shares of the semiconductor company’s stock worth $231,000 after buying an additional 160 shares during the period. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on QRVO shares. Susquehanna decreased their price objective on Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. StockNews.com lowered shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. TD Cowen dropped their price objective on shares of Qorvo from $125.00 to $85.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. Barclays reduced their target price on shares of Qorvo from $120.00 to $90.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th. Finally, Loop Capital began coverage on shares of Qorvo in a research note on Monday, November 11th. They set a “hold” rating and a $73.00 price target on the stock. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Qorvo has an average rating of “Hold” and a consensus target price of $102.88.

Insider Transactions at Qorvo

In related news, SVP Philip Chesley sold 4,045 shares of Qorvo stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $70.15, for a total transaction of $283,756.75. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.46% of the company’s stock.

Qorvo Stock Performance

NASDAQ:QRVO opened at $70.63 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $6.68 billion, a P/E ratio of -48.38, a price-to-earnings-growth ratio of 5.58 and a beta of 1.40. The firm has a 50-day moving average price of $70.79 and a two-hundred day moving average price of $96.55. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.03. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the company posted $1.99 EPS. The company’s revenue was down 5.2% on a year-over-year basis. As a group, research analysts expect that Qorvo, Inc. will post 3.37 earnings per share for the current fiscal year.

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.