Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. lessened its holdings in shares of Qorvo, Inc. (NASDAQ:QRVOFree Report) by 12.7% during the fourth quarter, HoldingsChannel reports. The fund owned 115,777 shares of the semiconductor company’s stock after selling 16,910 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Qorvo were worth $13,038,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Barclays PLC grew its holdings in shares of Qorvo by 646.2% in the 3rd quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company’s stock worth $369,091,000 after acquiring an additional 3,347,972 shares during the period. UBS Group AG grew its position in shares of Qorvo by 491.9% in the third quarter. UBS Group AG now owns 1,267,273 shares of the semiconductor company’s stock valued at $120,987,000 after purchasing an additional 1,053,157 shares during the last quarter. Norges Bank purchased a new position in shares of Qorvo during the 4th quarter worth approximately $118,120,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Qorvo by 268.3% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 537,541 shares of the semiconductor company’s stock valued at $51,319,000 after buying an additional 391,570 shares in the last quarter. Finally, Invesco Ltd. increased its position in Qorvo by 18.9% during the third quarter. Invesco Ltd. now owns 1,989,776 shares of the semiconductor company’s stock worth $189,964,000 after buying an additional 316,328 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on QRVO. StockNews.com lowered Qorvo from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th. Needham & Company LLC decreased their price target on shares of Qorvo from $125.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Mizuho cut their price objective on shares of Qorvo from $115.00 to $105.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Benchmark decreased their target price on shares of Qorvo from $136.00 to $128.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Finally, Barclays cut their price target on Qorvo from $110.00 to $100.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $110.83.

View Our Latest Analysis on QRVO

Qorvo Trading Up 0.3 %

Shares of Qorvo stock traded up $0.32 during trading hours on Tuesday, hitting $98.61. The company’s stock had a trading volume of 447,551 shares, compared to its average volume of 1,313,691. The company has a quick ratio of 1.41, a current ratio of 1.99 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $9.43 billion, a PE ratio of -134.64, a P/E/G ratio of 0.95 and a beta of 1.53. The business has a fifty day moving average of $107.55 and a 200 day moving average of $106.94. Qorvo, Inc. has a 1-year low of $80.62 and a 1-year high of $121.65.

Qorvo (NASDAQ:QRVOGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. The business had revenue of $941.00 million during the quarter, compared to the consensus estimate of $927.24 million. Qorvo had a negative net margin of 1.86% and a positive return on equity of 13.43%. The business’s quarterly revenue was up 48.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 earnings per share. As a group, equities analysts forecast that Qorvo, Inc. will post 5.16 EPS for the current year.

Insider Activity

In other news, Director John R. Harding sold 941 shares of Qorvo stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $97.36, for a total value of $91,615.76. Following the completion of the transaction, the director now directly owns 6,950 shares of the company’s stock, valued at approximately $676,652. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Robert A. Bruggeworth sold 22,299 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total transaction of $2,214,513.69. Following the completion of the transaction, the chief executive officer now directly owns 154,714 shares of the company’s stock, valued at $15,364,647.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John R. Harding sold 941 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $97.36, for a total value of $91,615.76. Following the completion of the sale, the director now directly owns 6,950 shares in the company, valued at $676,652. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,093 shares of company stock worth $3,349,958. 0.43% of the stock is currently owned by insiders.

About Qorvo

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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