Cambridge Investment Research Advisors Inc. lowered its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 13.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,508 shares of the semiconductor company’s stock after selling 1,018 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Qorvo were worth $460,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Qorvo by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 12,549,555 shares of the semiconductor company’s stock worth $794,638,000 after purchasing an additional 430,596 shares in the last quarter. Strs Ohio increased its position in Qorvo by 1.0% during the 2nd quarter. Strs Ohio now owns 885,830 shares of the semiconductor company’s stock worth $56,090,000 after purchasing an additional 9,120 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in Qorvo by 0.6% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 800,170 shares of the semiconductor company’s stock worth $50,667,000 after purchasing an additional 4,998 shares in the last quarter. State of Tennessee Treasury Department increased its position in Qorvo by 7.1% during the 3rd quarter. State of Tennessee Treasury Department now owns 744,583 shares of the semiconductor company’s stock worth $52,627,000 after purchasing an additional 49,553 shares in the last quarter. Finally, Swiss National Bank increased its position in Qorvo by 1.9% during the 2nd quarter. Swiss National Bank now owns 461,345 shares of the semiconductor company’s stock worth $29,212,000 after purchasing an additional 8,700 shares in the last quarter. 92.36% of the stock is owned by institutional investors.

Shares of Qorvo, Inc. (NASDAQ QRVO) opened at $80.62 on Monday. Qorvo, Inc. has a twelve month low of $49.53 and a twelve month high of $81.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.80 and a quick ratio of 2.71. The firm has a market capitalization of $10,250.67, a P/E ratio of 20.16, a PEG ratio of 1.36 and a beta of 1.03.

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

Several research firms have commented on QRVO. Mizuho restated a “hold” rating and issued a $70.00 price target on shares of Qorvo in a report on Friday, August 4th. J P Morgan Chase & Co set a $88.00 price objective on Qorvo and gave the company a “buy” rating in a research note on Wednesday, November 15th. BidaskClub raised Qorvo from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Cowen Inc reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Qorvo in a research note on Sunday, September 17th. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Qorvo in a research note on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $76.74.

In other Qorvo news, Director Daniel A. Dileo sold 2,500 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was 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 owns 4,622 shares in the company, valued at approximately $369,760. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Steven E. Creviston sold 6,000 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $73.37, for a total value of $440,220.00. Following the transaction, the vice president now owns 106,725 shares of the company’s stock, valued at approximately $7,830,413.25. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock valued at $3,713,885 over the last quarter. Company insiders own 0.91% of the company’s stock.

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About Qorvo

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)

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