Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd cut its stake in Qorvo, Inc. (NASDAQ:QRVO) by 5.1% in the first quarter, HoldingsChannel reports. The firm owned 18,775 shares of the semiconductor company’s stock after selling 1,012 shares during the quarter. IFM Investors Pty Ltd’s holdings in Qorvo were worth $2,156,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC grew its position in shares of Qorvo by 6.3% during the third quarter. CWM LLC now owns 3,022 shares of the semiconductor company’s stock worth $288,000 after buying an additional 179 shares in the last quarter. Oak Thistle LLC increased its position in shares of Qorvo by 51.4% in the 3rd quarter. Oak Thistle LLC now owns 12,156 shares of the semiconductor company’s stock valued at $1,161,000 after purchasing an additional 4,125 shares during the last quarter. Czech National Bank raised its holdings in shares of Qorvo by 44.7% in the 3rd quarter. Czech National Bank now owns 17,113 shares of the semiconductor company’s stock valued at $1,634,000 after purchasing an additional 5,289 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in shares of Qorvo in the 3rd quarter valued at $1,011,000. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Qorvo by 7.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 242,836 shares of the semiconductor company’s stock worth $23,184,000 after purchasing an additional 17,370 shares during the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Qorvo Stock Performance

Shares of QRVO traded up $2.05 during mid-day trading on Friday, hitting $116.75. 1,042,948 shares of the company’s stock were exchanged, compared to its average volume of 1,018,319. The company has a current ratio of 1.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.43. Qorvo, Inc. has a fifty-two week low of $80.62 and a fifty-two week high of $121.65. The business’s 50 day moving average is $113.52 and its two-hundred day moving average is $104.91. The firm has a market capitalization of $11.27 billion, a P/E ratio of -54.30, a P/E/G ratio of 0.88 and a beta of 1.56.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.47. Qorvo had a negative net margin of 6.11% and a positive return on equity of 10.41%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1 billion. On average, equities analysts expect that Qorvo, Inc. will post 4.95 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on QRVO shares. The Goldman Sachs Group raised their price target on Qorvo from $104.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. StockNews.com cut Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Craig Hallum increased their price target on shares of Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Needham & Company LLC reissued a “buy” rating and set a $125.00 price objective on shares of Qorvo in a report on Thursday, February 1st. Finally, Piper Sandler lowered their target price on shares of Qorvo from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $111.53.

Insider Buying and Selling at Qorvo

In other Qorvo news, SVP Steven E. Creviston sold 3,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $120.00, for a total value of $360,000.00. Following the sale, the senior vice president now owns 77,552 shares of the company’s stock, valued at $9,306,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Gina Harrison sold 354 shares of Qorvo stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $40,356.00. Following the completion of the sale, the vice president now owns 18,442 shares in the company, valued at approximately $2,102,388. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Steven E. Creviston sold 3,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the transaction, the senior vice president now directly owns 77,552 shares of the company’s stock, valued at approximately $9,306,240. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,381 shares of company stock valued at $745,434. 0.43% of the stock is owned by company insiders.

Qorvo Profile

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.