Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by UMB Bank n.a.

UMB Bank n.a. lessened its stake in Qorvo, Inc. (NASDAQ:QRVO) by 34.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 482 shares of the semiconductor company’s stock after selling 254 shares during the quarter. UMB Bank n.a.’s holdings in Qorvo were worth $34,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of QRVO. Assenagon Asset Management S.A. grew its position in shares of Qorvo by 377.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 816,882 shares of the semiconductor company’s stock worth $57,125,000 after acquiring an additional 645,829 shares in the last quarter. Vulcan Value Partners LLC grew its position in shares of Qorvo by 35.0% during the 2nd quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company’s stock valued at $246,665,000 after buying an additional 550,111 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in Qorvo by 140.2% in the third quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company’s stock worth $86,290,000 after acquiring an additional 487,621 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Qorvo by 78.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company’s stock valued at $55,548,000 after purchasing an additional 236,590 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Qorvo in the 3rd quarter worth approximately $22,726,000. Institutional investors own 88.57% of the company’s stock.

Qorvo Stock Down 1.8 %

QRVO stock opened at $88.94 on Friday. The company’s 50 day simple moving average is $72.18 and its 200-day simple moving average is $92.61. Qorvo, Inc. has a 52-week low of $64.54 and a 52-week high of $130.99. 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 firm has a market capitalization of $8.41 billion, a P/E ratio of -60.92, a P/E/G ratio of 6.98 and a beta of 1.40.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. The company had revenue of $1.05 billion during 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 revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.99 earnings per share. As a group, equities research analysts anticipate that Qorvo, Inc. will post 3.37 EPS for the current year.

Insider Activity

In related news, SVP Philip Chesley sold 4,045 shares of Qorvo stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total value of $283,756.75. Following the completion of the sale, the senior vice president now owns 30,261 shares of the company’s stock, valued at approximately $2,122,809.15. The trade was a 11.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

QRVO has been the topic of several analyst reports. Barclays dropped their target price on Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. BNP Paribas lowered shares of Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price target on the stock. in a research note on Wednesday, October 30th. Raymond James downgraded Qorvo from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Craig Hallum cut their target price on Qorvo from $142.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered their target price on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $98.24.

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.