Aperio Group LLC increased its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 23.5% during the second quarter, Holdings Channel reports. The fund owned 23,605 shares of the semiconductor company’s stock after buying an additional 4,496 shares during the period. Aperio Group LLC’s holdings in Qorvo were worth $1,495,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in QRVO. Baupost Group LLC MA bought a new position in shares of Qorvo during the first quarter valued at $492,639,000. Chevy Chase Trust Holdings Inc. boosted its position in shares of Qorvo by 2.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 109,010 shares of the semiconductor company’s stock valued at $7,474,000 after buying an additional 2,279 shares during the last quarter. British Columbia Investment Management Corp boosted its position in shares of Qorvo by 105.0% in the first quarter. British Columbia Investment Management Corp now owns 46,806 shares of the semiconductor company’s stock valued at $3,209,000 after buying an additional 23,973 shares during the last quarter. CHURCHILL MANAGEMENT Corp boosted its position in shares of Qorvo by 25.7% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 37,420 shares of the semiconductor company’s stock valued at $2,369,000 after buying an additional 7,661 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in shares of Qorvo by 164.5% in the first quarter. Daiwa Securities Group Inc. now owns 8,200 shares of the semiconductor company’s stock valued at $562,000 after buying an additional 5,100 shares during the last quarter. Institutional investors own 97.39% of the company’s stock.

Shares of Qorvo, Inc. (NASDAQ:QRVO) traded up 1.67% during midday trading on Friday, hitting $68.90. The stock had a trading volume of 960,950 shares. Qorvo, Inc. has a 52 week low of $48.28 and a 52 week high of $79.34. The company’s market cap is $8.77 billion. The stock’s 50-day moving average price is $67.19 and its 200 day moving average price is $68.93.

Qorvo (NASDAQ:QRVO) last released its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.07. Qorvo had a negative net margin of 1.40% and a positive return on equity of 10.10%. The firm had revenue of $640.80 million during the quarter, compared to the consensus estimate of $632.18 million. During the same period in the prior year, the firm earned $1.08 EPS. The company’s revenue was down 8.3% compared to the same quarter last year. On average, equities analysts forecast that Qorvo, Inc. will post $5.54 earnings per share for the current year.

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Several equities analysts have recently weighed in on QRVO shares. Zacks Investment Research cut Qorvo from a “hold” rating to a “strong sell” rating in a report on Wednesday, June 21st. BidaskClub cut Qorvo from a “strong-buy” rating to a “buy” rating in a report on Friday, June 16th. TheStreet cut Qorvo from a “b” rating to a “c” rating in a report on Wednesday, August 2nd. Charter Equity reiterated a “buy” rating on shares of Qorvo in a report on Friday, May 5th. Finally, Raymond James Financial, Inc. started coverage on Qorvo in a report on Friday, June 16th. They set an “outperform” rating and a $87.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $73.28.

In other news, insider Robert A. Bruggeworth sold 27,840 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $77.87, for a total transaction of $2,167,900.80. Following the completion of the transaction, the insider now directly owns 238,682 shares of the company’s stock, valued at approximately $18,586,167.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP James L. Klein sold 2,600 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $78.69, for a total transaction of $204,594.00. Following the transaction, the vice president now directly owns 40,058 shares of the company’s stock, valued at $3,152,164.02. The disclosure for this sale can be found here. Insiders have sold a total of 145,426 shares of company stock valued at $10,440,193 over the last three months. Insiders own 0.91% of the company’s stock.

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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