Shell Asset Management Co. Reduces Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Shell Asset Management Co. trimmed its position in Qorvo, Inc. (NASDAQ:QRVO) by 43.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,435 shares of the semiconductor company’s stock after selling 2,625 shares during the period. Shell Asset Management Co.’s holdings in Qorvo were worth $394,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Park Place Capital Corp boosted its position in Qorvo by 398.1% in the first quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 207 shares during the last quarter. Riverview Trust Co purchased a new position in Qorvo in the first quarter worth about $40,000. Fidelis Capital Partners LLC purchased a new position in Qorvo in the first quarter worth about $58,000. GAMMA Investing LLC purchased a new position in Qorvo in the fourth quarter worth about $104,000. Finally, Quadrant Capital Group LLC boosted its position in Qorvo by 18.7% in the fourth quarter. Quadrant Capital Group LLC now owns 951 shares of the semiconductor company’s stock worth $107,000 after purchasing an additional 150 shares during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Qorvo

In other news, Director John R. Harding sold 941 shares of Qorvo stock in a transaction that occurred 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 transaction, the director now owns 6,950 shares in the company, valued at approximately $676,652. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Robert A. Bruggeworth sold 15,279 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $100.00, for a total transaction of $1,527,900.00. Following the completion of the transaction, the chief executive officer now owns 190,161 shares in the company, valued at approximately $19,016,100. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John R. Harding sold 941 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $97.36, for a total value of $91,615.76. Following the transaction, the director now owns 6,950 shares of the company’s stock, valued at approximately $676,652. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,372 shares of company stock worth $4,517,858. 0.46% of the stock is currently owned by company insiders.

Qorvo Stock Performance

NASDAQ:QRVO opened at $122.01 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.99 and a quick ratio of 1.41. Qorvo, Inc. has a 1 year low of $80.62 and a 1 year high of $130.99. The stock’s 50 day simple moving average is $111.40 and its two-hundred day simple moving average is $110.16. The company has a market cap of $11.59 billion, a price-to-earnings ratio of -167.14, a PEG ratio of 1.15 and a beta of 1.46.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on QRVO. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $105.00 price objective on shares of Qorvo in a research note on Wednesday, June 12th. Benchmark decreased their price objective on Qorvo from $136.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. The Goldman Sachs Group decreased their price objective on Qorvo from $117.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Qorvo in a research note on Wednesday, June 12th. Finally, Susquehanna raised their price objective on Qorvo from $95.00 to $145.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $112.94.

Qorvo Company 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.