Exxonmobil Investment Management Inc. TX cut its stake in shares of Qorvo Inc (NASDAQ:QRVO) by 12.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,236 shares of the semiconductor company’s stock after selling 3,005 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in Qorvo were worth $1,348,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Penserra Capital Management LLC acquired a new position in Qorvo in the third quarter valued at approximately $130,000. Federated Investors Inc. PA boosted its holdings in Qorvo by 4.0% in the second quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock valued at $147,000 after purchasing an additional 90 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Qorvo by 79.9% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,252 shares of the semiconductor company’s stock valued at $159,000 after purchasing an additional 1,000 shares in the last quarter. Advisor Group Inc. boosted its holdings in shares of Qorvo by 5.1% in the second quarter. Advisor Group Inc. now owns 2,584 shares of the semiconductor company’s stock valued at $164,000 after acquiring an additional 126 shares during the period. Finally, Achmea Investment Management B.V. acquired a new stake in shares of Qorvo in the second quarter valued at approximately $188,000. 96.48% of the stock is owned by institutional investors and hedge funds.
QRVO has been the subject of several research analyst reports. Morgan Stanley increased their price objective on Qorvo from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Wednesday, December 13th. JPMorgan Chase & Co. set a $88.00 price objective on Qorvo and gave the company a “buy” rating in a report on Wednesday, November 15th. Needham & Company LLC restated a “buy” rating and set a $84.00 price target on shares of Qorvo in a research note on Thursday, November 2nd. ValuEngine upgraded Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 24th. Finally, Drexel Hamilton restated a “buy” rating and set a $95.00 price target on shares of Qorvo in a research note on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $80.42.
Qorvo Inc (NASDAQ:QRVO) traded up $1.00 on Friday, hitting $77.85. The company had a trading volume of 3,361,767 shares, compared to its average volume of 2,530,000. The company has a current ratio of 4.72, a quick ratio of 3.62 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $9,850.00, a price-to-earnings ratio of 370.71, a P/E/G ratio of 1.37 and a beta of 1.05. Qorvo Inc has a fifty-two week low of $62.68 and a fifty-two week high of $85.24.
Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.09. Qorvo had a return on equity of 11.72% and a net margin of 0.95%. The firm had revenue of $845.70 million for the quarter, compared to analyst estimates of $841.09 million. During the same period last year, the company earned $1.35 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. research analysts forecast that Qorvo Inc will post 4.49 earnings per share for the current fiscal year.
In other Qorvo news, Director Daniel A. Dileo sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $80.00, for a total value of $200,000.00. Following the sale, the director now directly owns 4,622 shares of the company’s stock, valued at approximately $369,760. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Steven E. Creviston sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $71.37, for a total value of $428,220.00. Following the completion of the transaction, the vice president now owns 82,725 shares in the company, valued at $5,904,083.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,496 shares of company stock worth $3,766,549. 0.91% of the stock is owned by corporate insiders.
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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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