Natixis Advisors L.P. reduced its position in Qorvo Inc (NASDAQ:QRVO) by 3.5% during the second quarter, HoldingsChannel reports. The fund owned 86,692 shares of the semiconductor company’s stock after selling 3,116 shares during the quarter. Natixis Advisors L.P.’s holdings in Qorvo were worth $5,775,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. ETF Managers Group LLC raised its position in shares of Qorvo by 7.9% in the first quarter. ETF Managers Group LLC now owns 2,031 shares of the semiconductor company’s stock valued at $146,000 after purchasing an additional 149 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Qorvo by 2.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 7,832 shares of the semiconductor company’s stock worth $521,000 after buying an additional 158 shares during the period. Diversified Trust Co boosted its holdings in Qorvo by 4.0% in the 1st quarter. Diversified Trust Co now owns 4,507 shares of the semiconductor company’s stock worth $323,000 after buying an additional 172 shares during the period. Commerce Bank boosted its holdings in Qorvo by 6.2% in the 2nd quarter. Commerce Bank now owns 3,637 shares of the semiconductor company’s stock worth $242,000 after buying an additional 212 shares during the period. Finally, World Asset Management Inc grew its stake in Qorvo by 3.2% in the 2nd quarter. World Asset Management Inc now owns 8,179 shares of the semiconductor company’s stock valued at $545,000 after buying an additional 253 shares in the last quarter. Institutional investors and hedge funds own 91.52% of the company’s stock.

QRVO has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Qorvo in a research report on Monday, August 5th. Mizuho set a $70.00 price target on Qorvo and gave the company a “hold” rating in a research report on Friday, August 2nd. Morgan Stanley boosted their price objective on Qorvo from $67.00 to $71.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Barclays lowered Qorvo from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $70.00 to $60.00 in a research note on Thursday, June 6th. Finally, BidaskClub raised Qorvo from a “sell” rating to a “hold” rating in a report on Friday, July 19th. Fourteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Qorvo has a consensus rating of “Hold” and a consensus target price of $76.86.

Shares of NASDAQ QRVO traded up $0.49 during midday trading on Wednesday, hitting $77.29. 41,838 shares of the company’s stock were exchanged, compared to its average volume of 1,114,656. The company has a current ratio of 3.44, a quick ratio of 2.30 and a debt-to-equity ratio of 0.23. The business’s fifty day moving average price is $72.31 and its two-hundred day moving average price is $70.27. The company has a market cap of $8.95 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 1.87 and a beta of 1.09. Qorvo Inc has a 12-month low of $54.74 and a 12-month high of $79.29.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Thursday, August 1st. The semiconductor company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.23. Qorvo had a net margin of 6.39% and a return on equity of 15.77%. The business had revenue of $775.60 million for the quarter, compared to the consensus estimate of $738.98 million. During the same period last year, the firm posted $0.96 earnings per share. Qorvo’s quarterly revenue was up 12.0% on a year-over-year basis. Equities analysts expect that Qorvo Inc will post 4.3 earnings per share for the current fiscal year.

In related news, Director Roderick Nelson sold 500 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $69.85, for a total transaction of $34,925.00. Following the transaction, the director now directly owns 4,782 shares of the company’s stock, valued at approximately $334,022.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert A. Bruggeworth sold 17,292 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $71.05, for a total value of $1,228,596.60. Following the completion of the sale, the insider now owns 193,002 shares of the company’s stock, valued at approximately $13,712,792.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,633 shares of company stock worth $2,312,438. Corporate insiders own 0.71% of the company’s stock.

Qorvo Profile

Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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