Qorvo, Inc. (QRVO) Shares Sold by Ladenburg Thalmann Financial Services Inc.
Ladenburg Thalmann Financial Services Inc. lowered its stake in Qorvo, Inc. (NASDAQ:QRVO) by 17.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,235 shares of the semiconductor company’s stock after selling 4,298 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Qorvo were worth $1,430,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Penserra Capital Management LLC purchased a new position in shares of Qorvo in the third quarter worth about $130,000. Federated Investors Inc. PA increased its holdings in shares of Qorvo by 4.0% in the second quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock worth $147,000 after buying an additional 90 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Qorvo by 79.9% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,252 shares of the semiconductor company’s stock worth $159,000 after buying an additional 1,000 shares during the period. Advisor Group Inc. increased its holdings in shares of Qorvo by 5.1% in the second quarter. Advisor Group Inc. now owns 2,584 shares of the semiconductor company’s stock worth $164,000 after buying an additional 126 shares during the period. Finally, Global X Management Co. LLC increased its holdings in shares of 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 period. Hedge funds and other institutional investors own 96.74% of the company’s stock.
In other Qorvo news, Director Walter H. Wilkinson sold 15,925 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $80.02, for a total transaction of $1,274,318.50. Following the transaction, the director now owns 62,480 shares in the company, valued at approximately $4,999,649.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Steven E. Creviston sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $72.27, for a total value of $433,620.00. The disclosure for this sale can be found here. Insiders have sold a total of 60,696 shares of company stock worth $4,519,191 in the last quarter. Company insiders own 0.91% of the company’s stock.
Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.52. Qorvo had a positive return on equity of 10.77% and a negative net margin of 0.59%. The company had revenue of $821.60 million for the quarter, compared to the consensus estimate of $810.47 million. During the same quarter in the previous year, the business earned $1.29 EPS. Qorvo’s revenue was down 5.0% compared to the same quarter last year. equities analysts forecast that Qorvo, Inc. will post 4.74 earnings per share for the current year.
Several research analysts have recently commented on QRVO shares. Northland Securities downgraded Qorvo from an “outperform” rating to a “market perform” rating in a report on Thursday, November 2nd. BidaskClub downgraded Qorvo from a “hold” rating to a “sell” rating in a report on Wednesday, December 6th. J P Morgan Chase & Co set a $88.00 price objective on Qorvo and gave the stock a “buy” rating in a report on Wednesday, November 15th. Citigroup lifted their price objective on Qorvo from $69.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Finally, Nomura started coverage on Qorvo in a report on Tuesday, September 5th. They issued a “neutral” rating and a $75.00 price objective on the stock. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $76.89.
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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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