Cwm LLC Trims Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

Cwm LLC trimmed its stake in Qorvo, Inc. (NASDAQ:QRVO) by 3.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,954 shares of the semiconductor company’s stock after selling 106 shares during the period. Cwm LLC’s holdings in Qorvo were worth $305,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QRVO. Banque Cantonale Vaudoise increased its position in shares of Qorvo by 26.0% during the first quarter. Banque Cantonale Vaudoise now owns 2,552 shares of the semiconductor company’s stock worth $293,000 after purchasing an additional 526 shares in the last quarter. Riverview Trust Co acquired a new position in Qorvo during the first quarter worth approximately $40,000. F&V Capital Management LLC lifted its stake in Qorvo by 5.7% in the first quarter. F&V Capital Management LLC now owns 89,558 shares of the semiconductor company’s stock valued at $10,284,000 after buying an additional 4,805 shares during the last quarter. 180 Wealth Advisors LLC boosted its holdings in shares of Qorvo by 11.1% in the first quarter. 180 Wealth Advisors LLC now owns 2,642 shares of the semiconductor company’s stock valued at $303,000 after acquiring an additional 265 shares during the period. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in shares of Qorvo during the first quarter worth approximately $227,000. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on QRVO shares. Piper Sandler reiterated a “neutral” rating and set a $120.00 price target (up previously from $105.00) on shares of Qorvo in a research note on Wednesday, July 31st. Craig Hallum raised their price target on Qorvo from $124.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. TD Cowen raised Qorvo to a “hold” rating in a research report on Monday, September 16th. Rosenblatt Securities lifted their target price on Qorvo from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group upped their price target on Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $121.29.

Insider Buying and Selling at Qorvo

In other news, VP Gina Harrison sold 689 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the completion of the transaction, the vice president now directly owns 21,601 shares of the company’s stock, valued at $2,325,779.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.46% of the company’s stock.

Qorvo Stock Performance

NASDAQ:QRVO opened at $102.20 on Tuesday. The firm’s fifty day simple moving average is $106.19 and its 200-day simple moving average is $108.59. The company has a quick ratio of 1.36, a current ratio of 1.95 and a debt-to-equity ratio of 0.44. The stock has a market cap of $9.71 billion, a PE ratio of -140.00, a price-to-earnings-growth ratio of 1.26 and a beta of 1.45. Qorvo, Inc. has a fifty-two week low of $80.62 and a fifty-two week high of $130.99.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. The business had revenue of $886.70 million for the quarter, compared to analysts’ expectations of $851.95 million. During the same quarter in the prior year, the firm posted $0.03 EPS. The company’s revenue was up 36.2% compared to the same quarter last year. Analysts expect that Qorvo, Inc. will post 4.84 earnings per share for the current fiscal year.

About Qorvo

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.