Mitsubishi UFJ Trust & Banking Corp cut its position in Qorvo, Inc. (NASDAQ:QRVO) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 253,787 shares of the semiconductor company’s stock after selling 1,703 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.20% of Qorvo worth $17,938,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Qorvo by 0.7% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,442 shares of the semiconductor company’s stock valued at $598,000 after purchasing an additional 62 shares during the period. Federated Investors Inc. PA boosted its stake in shares of Qorvo by 4.0% in the second quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock valued at $147,000 after purchasing an additional 90 shares during the period. Sentry Investment Management LLC boosted its stake in Qorvo by 1.4% during the 2nd quarter. Sentry Investment Management LLC now owns 6,648 shares of the semiconductor company’s stock valued at $421,000 after acquiring an additional 95 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Qorvo by 1.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 7,900 shares of the semiconductor company’s stock valued at $500,000 after acquiring an additional 100 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Qorvo by 1.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 7,526 shares of the semiconductor company’s stock valued at $477,000 after acquiring an additional 111 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

In other news, Director Walter H. Wilkinson sold 15,925 shares of Qorvo stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $80.02, for a total value of $1,274,318.50. Following the transaction, the director now owns 62,480 shares of the company’s stock, valued at $4,999,649.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Daniel A. Dileo sold 2,500 shares of Qorvo stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $80.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director now directly owns 4,622 shares in the company, valued at approximately $369,760. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,696 shares of company stock worth $4,605,411. Insiders own 0.91% of the company’s stock.

A number of research firms have recently issued reports on QRVO. J P Morgan Chase & Co set a $88.00 price target on shares of Qorvo and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Drexel Hamilton restated a “buy” rating and issued a $95.00 price target on shares of Qorvo in a research report on Thursday, November 2nd. Northland Securities downgraded shares of Qorvo from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 2nd. Craig Hallum downgraded shares of Qorvo from a “buy” rating to a “hold” rating and reduced their price target for the stock from $78.00 to $71.00 in a research report on Thursday, November 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $84.00 price target on shares of Qorvo in a research report on Thursday, November 2nd. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $76.74.

Qorvo, Inc. (NASDAQ QRVO) opened at $67.88 on Friday. Qorvo, Inc. has a fifty-two week low of $52.05 and a fifty-two week high of $81.20. The company has a market cap of $8,737.62, a PE ratio of 17.18, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02. The company has a quick ratio of 2.71, a current ratio of 3.80 and a debt-to-equity ratio of 0.20.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 EPS for the quarter, hitting the consensus estimate of $1.52. The business had revenue of $821.60 million during the quarter, compared to analysts’ expectations of $810.47 million. Qorvo had a negative net margin of 0.59% and a positive return on equity of 10.77%. The firm’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same period last year, the company posted $1.29 earnings per share. sell-side analysts predict that Qorvo, Inc. will post 4.74 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “Mitsubishi UFJ Trust & Banking Corp Has $17.94 Million Stake in Qorvo, Inc. (QRVO)” was first published by Watch List News and is owned by of Watch List News. If you are reading this piece on another site, it was stolen and reposted in violation of international copyright legislation. The legal version of this piece can be viewed at https://www.watchlistnews.com/mitsubishi-ufj-trust-banking-corp-has-17-94-million-stake-in-qorvo-inc-qrvo/1753578.html.

Qorvo 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).

Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

Receive News & Ratings for Qorvo Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qorvo Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.