Qorvo Inc (QRVO) Shares Sold by ARGA Investment Management LP

ARGA Investment Management LP lessened its stake in Qorvo Inc (NASDAQ:QRVO) by 14.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,000 shares of the semiconductor company’s stock after selling 4,800 shares during the period. ARGA Investment Management LP’s holdings in Qorvo were worth $1,931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Stifel Financial Corp boosted its stake in Qorvo by 2.3% in the second quarter. Stifel Financial Corp now owns 13,080 shares of the semiconductor company’s stock valued at $830,000 after acquiring an additional 298 shares in the last quarter. Norinchukin Bank The boosted its stake in Qorvo by 7.4% in the fourth quarter. Norinchukin Bank The now owns 10,176 shares of the semiconductor company’s stock valued at $678,000 after acquiring an additional 703 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in Qorvo by 3.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 25,796 shares of the semiconductor company’s stock valued at $1,718,000 after acquiring an additional 806 shares in the last quarter. Penserra Capital Management LLC boosted its stake in Qorvo by 45.4% in the fourth quarter. Penserra Capital Management LLC now owns 2,660 shares of the semiconductor company’s stock valued at $177,000 after acquiring an additional 831 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in Qorvo by 4.8% in the third quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 18,806 shares of the semiconductor company’s stock valued at $1,329,000 after acquiring an additional 863 shares in the last quarter. Institutional investors own 96.61% of the company’s stock.

In other Qorvo news, Director Walter H. Wilkinson sold 15,925 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $80.02, for a total value of $1,274,318.50. Following the completion of the transaction, the director now directly owns 62,480 shares of the company’s stock, valued at $4,999,649.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Steven E. Creviston sold 6,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $78.97, for a total transaction of $473,820.00. The disclosure for this sale can be found here. Insiders have sold 42,996 shares of company stock valued at $3,193,399 over the last three months. 0.91% of the stock is currently owned by corporate insiders.

Qorvo Inc (NASDAQ:QRVO) opened at $80.17 on Wednesday. The stock has a market cap of $10,140.00, a PE ratio of 381.76, a P/E/G ratio of 1.36 and a beta of 1.05. Qorvo Inc has a 1-year low of $62.68 and a 1-year high of $85.24. The company has a current ratio of 4.72, a quick ratio of 3.62 and a debt-to-equity ratio of 0.23.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.09. The firm had revenue of $845.70 million during the quarter, compared to analysts’ expectations of $841.09 million. Qorvo had a net margin of 0.95% and a return on equity of 11.72%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.35 earnings per share. analysts predict that Qorvo Inc will post 4.49 EPS for the current fiscal year.

Several research firms have issued reports on QRVO. Barclays upped their price objective on shares of Qorvo from $75.00 to $87.00 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. Drexel Hamilton reiterated a “buy” rating and set a $95.00 target price on shares of Qorvo in a research note on Thursday, November 2nd. Morgan Stanley increased their target price on shares of Qorvo from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 13th. Needham & Company LLC reiterated a “buy” rating and set a $84.00 target price on shares of Qorvo in a research note on Thursday, November 2nd. Finally, Craig Hallum downgraded shares of Qorvo from a “buy” rating to a “hold” rating and decreased their target price for the stock from $78.00 to $71.00 in a research note on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $80.42.

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Qorvo Profile

Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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