Pitcairn Co. cut its position in shares of Qorvo Inc (NASDAQ:QRVO) by 5.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,894 shares of the semiconductor company’s stock after selling 181 shares during the quarter. Pitcairn Co.’s holdings in Qorvo were worth $320,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Nissay Asset Management Corp Japan ADV lifted its stake in Qorvo by 1.2% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 11,561 shares of the semiconductor company’s stock valued at $932,000 after buying an additional 134 shares in the last quarter. MorganRosel Wealth Management LLC lifted its position in shares of Qorvo by 2.5% in the second quarter. MorganRosel Wealth Management LLC now owns 6,103 shares of the semiconductor company’s stock worth $675,000 after purchasing an additional 146 shares in the last quarter. CSat Investment Advisory L.P. lifted its position in shares of Qorvo by 32.5% in the first quarter. CSat Investment Advisory L.P. now owns 620 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 152 shares in the last quarter. Contravisory Investment Management Inc. lifted its position in shares of Qorvo by 3.4% in the first quarter. Contravisory Investment Management Inc. now owns 4,936 shares of the semiconductor company’s stock worth $398,000 after purchasing an additional 162 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its position in shares of Qorvo by 0.7% in the first quarter. Mutual of America Capital Management LLC now owns 23,618 shares of the semiconductor company’s stock worth $1,904,000 after purchasing an additional 165 shares in the last quarter. 88.02% of the stock is owned by institutional investors.

In other news, VP Gina Harrison sold 1,328 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $115.53, for a total value of $153,423.84. Also, Director Roderick Nelson sold 1,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $112.82, for a total transaction of $112,820.00. Following the completion of the sale, the director now owns 4,935 shares in the company, valued at approximately $556,766.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,877 shares of company stock worth $3,409,446. 0.66% of the stock is currently owned by corporate insiders.

Shares of QRVO stock opened at $128.15 on Friday. Qorvo Inc has a 12 month low of $67.54 and a 12 month high of $130.86. The company has a quick ratio of 2.18, a current ratio of 4.08 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $112.02 and its two-hundred day moving average is $101.04. The company has a market cap of $14.72 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.64 and a beta of 1.41.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.37. The business had revenue of $787.50 million for the quarter, compared to the consensus estimate of $729.91 million. Qorvo had a net margin of 12.05% and a return on equity of 16.10%. Qorvo’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company posted $1.36 earnings per share. As a group, equities analysts expect that Qorvo Inc will post 4.73 EPS for the current fiscal year.

A number of research firms have recently issued reports on QRVO. BidaskClub raised shares of Qorvo from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 6th. Bank of America reissued a “buy” rating on shares of Qorvo in a research report on Thursday, May 21st. Morgan Stanley increased their price target on shares of Qorvo from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday. Canaccord Genuity reduced their price target on shares of Qorvo from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Finally, Needham & Company LLC increased their price target on shares of Qorvo from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Six analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Qorvo presently has a consensus rating of “Buy” and a consensus price target of $121.36.

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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