1st Global Advisors Inc. lowered its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 1.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,099 shares of the semiconductor company’s stock after selling 135 shares during the period. 1st Global Advisors Inc.’s holdings in Qorvo were worth $450,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. NEXT Financial Group Inc raised its stake in shares of Qorvo by 2.1% during the 2nd quarter. NEXT Financial Group Inc now owns 2,370 shares of the semiconductor company’s stock worth $150,000 after purchasing an additional 49 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Qorvo by 0.7% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,442 shares of the semiconductor company’s stock worth $598,000 after purchasing an additional 62 shares in the last quarter. Amalgamated Bank raised its stake in shares of Qorvo by 0.7% during the 1st quarter. Amalgamated Bank now owns 9,040 shares of the semiconductor company’s stock worth $620,000 after purchasing an additional 64 shares in the last quarter. Federated Investors Inc. PA raised its stake in shares of Qorvo by 4.0% during the 2nd quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 90 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of Qorvo by 1.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 7,900 shares of the semiconductor company’s stock worth $500,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 94.35% of the company’s stock.

Qorvo, Inc. (NASDAQ:QRVO) traded up 0.14% during mid-day trading on Tuesday, reaching $72.63. The company had a trading volume of 263,211 shares. Qorvo, Inc. has a 12-month low of $48.28 and a 12-month high of $79.34. The stock has a 50 day moving average price of $72.06 and a 200-day moving average price of $70.71. The stock’s market capitalization is $9.24 billion.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.07. Qorvo had a positive return on equity of 10.10% and a negative net margin of 1.40%. The business had revenue of $640.80 million during the quarter, compared to analysts’ expectations of $632.18 million. During the same period in the previous year, the business earned $1.08 earnings per share. The firm’s revenue was down 8.3% on a year-over-year basis. Equities analysts anticipate that Qorvo, Inc. will post $5.53 EPS for the current fiscal year.

A number of brokerages have recently issued reports on QRVO. Needham & Company LLC reiterated a “buy” rating and set a $86.00 price objective on shares of Qorvo in a research note on Sunday, September 17th. Cowen and Company reiterated a “hold” rating and set a $85.00 price objective on shares of Qorvo in a research note on Sunday, September 17th. Instinet began coverage on Qorvo in a research note on Wednesday, September 6th. They set a “neutral” rating and a $75.00 price objective on the stock. Nomura began coverage on Qorvo in a research note on Tuesday, September 5th. They set a “neutral” rating and a $75.00 price objective on the stock. Finally, Zacks Investment Research cut Qorvo from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $73.45.

In related news, VP Gina Harrison sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $73.41, for a total transaction of $367,050.00. Following the completion of the transaction, the vice president now directly owns 17,230 shares in the company, valued at $1,264,854.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP James L. Klein sold 1,500 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $67.67, for a total value of $101,505.00. Following the transaction, the vice president now owns 41,893 shares of the company’s stock, valued at $2,834,899.31. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,080 shares of company stock valued at $3,993,723. 0.91% of the stock is owned by company insiders.

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Qorvo Company Profile

Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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