Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Barclays PLC
by Danessa Lincoln · The Markets DailyBarclays PLC lowered its position in shares of Qorvo, Inc. (NASDAQ:QRVO – Free Report) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 869,196 shares of the semiconductor company’s stock after selling 28,524 shares during the period. Barclays PLC owned 0.92% of Qorvo worth $89,787,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of QRVO. Larson Financial Group LLC increased its holdings in shares of Qorvo by 163.4% in the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 201 shares during the last quarter. New Millennium Group LLC acquired a new position in Qorvo in the second quarter valued at approximately $34,000. Blue Trust Inc. increased its stake in Qorvo by 241.6% in the second quarter. Blue Trust Inc. now owns 345 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 244 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Qorvo during the third quarter worth approximately $41,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Qorvo by 33.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after buying an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on QRVO shares. Craig Hallum dropped their target price on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Needham & Company LLC initiated coverage on Qorvo in a report on Monday, October 28th. They set a “buy” rating and a $135.00 price objective on the stock. BNP Paribas downgraded Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 target price for the company. in a report on Wednesday, October 30th. Bank of America dropped their price target on Qorvo from $115.00 to $80.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Raymond James cut Qorvo from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $102.88.
Qorvo Trading Up 0.7 %
Shares of Qorvo stock opened at $69.06 on Thursday. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of -47.30, a price-to-earnings-growth ratio of 5.48 and a beta of 1.42. Qorvo, Inc. has a 52-week low of $64.54 and a 52-week high of $130.99. The company’s 50-day simple moving average is $81.52 and its 200-day simple moving average is $100.45. The company has a quick ratio of 1.38, a current ratio of 1.90 and a debt-to-equity ratio of 0.45.
Qorvo (NASDAQ:QRVO – Get Free Report) last released its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.03. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.99 EPS. As a group, equities research analysts anticipate that Qorvo, Inc. will post 3.37 earnings per share for the current year.
Insiders Place Their Bets
In related news, SVP Philip Chesley sold 4,045 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $70.15, for a total transaction of $283,756.75. Following the sale, the senior vice president now owns 30,261 shares of the company’s stock, valued at approximately $2,122,809.15. The trade was a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is currently owned by company insiders.
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.
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