Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 25.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 414,183 shares of the semiconductor company’s stock after selling 144,225 shares during the period. Assenagon Asset Management S.A. owned 0.44% of Qorvo worth $48,062,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new position in Qorvo during the fourth quarter worth about $118,120,000. Balyasny Asset Management L.P. increased its position in Qorvo by 161.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 857,596 shares of the semiconductor company’s stock worth $96,574,000 after purchasing an additional 529,309 shares during the last quarter. Panagora Asset Management Inc. raised its stake in Qorvo by 119.4% during the fourth quarter. Panagora Asset Management Inc. now owns 580,929 shares of the semiconductor company’s stock worth $65,418,000 after purchasing an additional 316,172 shares during the period. KBC Group NV grew its stake in shares of Qorvo by 3,169.2% during the 4th quarter. KBC Group NV now owns 299,032 shares of the semiconductor company’s stock valued at $33,674,000 after buying an additional 289,885 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Qorvo by 177.4% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 426,678 shares of the semiconductor company’s stock worth $48,995,000 after buying an additional 272,872 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Insider Buying and Selling at Qorvo

In other news, CEO Robert A. Bruggeworth sold 15,279 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 190,161 shares in the company, valued at approximately $19,016,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Robert A. Bruggeworth sold 4,721 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $100.00, for a total value of $472,100.00. Following the sale, the chief executive officer now directly owns 205,440 shares in the company, valued at approximately $20,544,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $1,527,900.00. Following the transaction, the chief executive officer now owns 190,161 shares of the company’s stock, valued at approximately $19,016,100. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by insiders.

Qorvo Stock Performance

Shares of QRVO stock traded down $1.20 on Friday, hitting $111.18. 921,645 shares of the stock traded hands, compared to its average volume of 1,374,069. The company’s fifty day moving average is $115.20 and its 200 day moving average is $110.86. Qorvo, Inc. has a 1-year low of $80.62 and a 1-year high of $130.99. The company has a market capitalization of $10.57 billion, a PE ratio of -152.30, a PEG ratio of 1.28 and a beta of 1.46. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.95 and a quick ratio of 1.36.

Qorvo (NASDAQ:QRVO) last issued its 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 negative net margin of 0.66% and a positive return on equity of 14.92%. The company had revenue of $886.70 million for the quarter, compared to analysts’ expectations of $851.95 million. During the same period in the prior year, the company earned $0.03 earnings per share. The firm’s revenue was up 36.2% compared to the same quarter last year. On average, equities research analysts predict that Qorvo, Inc. will post 4.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. The Goldman Sachs Group raised their price objective on Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. StockNews.com cut shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised their target price on shares of Qorvo from $100.00 to $115.00 and gave the company an “underweight” rating in a research note on Wednesday, July 31st. Craig Hallum upped their price target on shares of Qorvo from $124.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Benchmark cut their price objective on Qorvo from $136.00 to $128.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given 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 $121.00.

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.