Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Boston Partners
Boston Partners lowered its position in Qorvo, Inc. (NASDAQ:QRVO) by 7.9% during the second quarter, Holdings Channel reports. The fund owned 1,978,848 shares of the semiconductor company’s stock after selling 169,386 shares during the period. Boston Partners’ holdings in Qorvo were worth $125,300,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of QRVO. Benjamin F. Edwards & Company Inc. boosted its position in Qorvo by 49.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,664 shares of the semiconductor company’s stock worth $114,000 after buying an additional 552 shares during the last quarter. IFP Advisors Inc boosted its position in Qorvo by 46.7% in the first quarter. IFP Advisors Inc now owns 2,105 shares of the semiconductor company’s stock worth $144,000 after buying an additional 670 shares during the last quarter. NEXT Financial Group Inc boosted its position in Qorvo by 2.1% in the second quarter. NEXT Financial Group Inc now owns 2,370 shares of the semiconductor company’s stock worth $150,000 after buying an additional 49 shares during the last quarter. Global X Management Co. LLC boosted its position in Qorvo by 400.9% in the second quarter. Global X Management Co. LLC now owns 2,795 shares of the semiconductor company’s stock worth $177,000 after buying an additional 2,237 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new position in Qorvo during the first quarter worth about $191,000. Hedge funds and other institutional investors own 97.39% of the company’s stock.
Shares of Qorvo, Inc. (QRVO) opened at 68.90 on Friday. The stock’s market capitalization is $8.77 billion. The company has a 50-day moving average price of $67.19 and a 200-day moving average price of $68.93. Qorvo, Inc. has a 52-week low of $48.28 and a 52-week high of $79.34.
Qorvo (NASDAQ:QRVO) last released 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 for the quarter, compared to the consensus estimate of $632.18 million. During the same period in the previous year, the company posted $1.08 earnings per share. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. On average, equities analysts anticipate that Qorvo, Inc. will post $5.54 earnings per share for the current year.
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QRVO has been the topic of a number of research analyst reports. TheStreet upgraded Qorvo from a “c+” rating to a “b” rating in a report on Wednesday, May 3rd. Needham & Company LLC increased their price target on Qorvo from $70.00 to $86.00 and gave the stock a “buy” rating in a report on Friday, May 26th. Charter Equity restated a “buy” rating on shares of Qorvo in a report on Monday, May 15th. Craig Hallum increased their price target on Qorvo from $68.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, May 4th. Finally, Benchmark Co. initiated coverage on Qorvo in a report on Tuesday, April 25th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. Qorvo has an average rating of “Hold” and a consensus target price of $73.28.
In other Qorvo news, VP James L. Klein sold 2,600 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $63.49, for a total value of $165,074.00. Following the sale, the vice president now directly owns 40,058 shares of the company’s stock, valued at $2,543,282.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James L. Klein sold 4,120 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $68.41, for a total value of $281,849.20. Following the completion of the sale, the vice president now directly owns 36,358 shares in the company, valued at $2,487,250.78. The disclosure for this sale can be found here. Insiders sold 145,426 shares of company stock worth $10,440,193 over the last three months. Corporate 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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