Stephens Inc. AR Trims Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Stephens Inc. AR lessened its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 6.1% in the third quarter, Holdings Channel.com reports. The firm owned 7,942 shares of the semiconductor company’s stock after selling 515 shares during the period. Stephens Inc. AR’s holdings in Qorvo were worth $820,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of QRVO. Pacer Advisors Inc. increased its stake in shares of Qorvo by 17,255.9% in the second quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company’s stock worth $165,590,000 after buying an additional 1,418,784 shares during the last quarter. Vulcan Value Partners LLC increased its position in shares of Qorvo by 35.0% in the 2nd quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company’s stock worth $246,665,000 after purchasing an additional 550,111 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Qorvo by 1,507.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 347,715 shares of the semiconductor company’s stock valued at $40,349,000 after purchasing an additional 326,087 shares in the last quarter. Caxton Associates LP bought a new position in shares of Qorvo during the second quarter worth about $34,812,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Qorvo by 177.4% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 426,678 shares of the semiconductor company’s stock worth $48,995,000 after purchasing an additional 272,872 shares in the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on QRVO shares. TD Cowen cut their price objective on Qorvo from $125.00 to $85.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. Raymond James lowered Qorvo from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Bank of America decreased their price objective on shares of Qorvo from $115.00 to $80.00 and set an “underperform” rating for the company in a report on Wednesday, October 30th. Craig Hallum dropped their target price on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Finally, BNP Paribas lowered shares of Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price target for the company. in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $104.75.

Qorvo Stock Up 0.6 %

QRVO opened at $71.80 on Wednesday. The stock’s 50 day moving average price is $101.59 and its 200 day moving average price is $106.91. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38. The stock has a market cap of $6.79 billion, a P/E ratio of -49.18, a P/E/G ratio of 4.23 and a beta of 1.49. Qorvo, Inc. has a 12 month low of $70.39 and a 12 month high of $130.99.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period last year, the company earned $1.99 earnings per share. As a group, research analysts predict that Qorvo, Inc. will post 4.59 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Gina Harrison sold 689 shares of the company’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 value of $74,184.63. Following the completion of the sale, the vice president now directly owns 21,601 shares of the company’s stock, valued at approximately $2,325,779.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.46% of the stock is owned by 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.