Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 4.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,680 shares of the semiconductor company’s stock after selling 496 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Qorvo were worth $1,207,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. O Shaughnessy Asset Management LLC boosted its position in Qorvo by 15.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,272 shares of the semiconductor company’s stock worth $376,000 after purchasing an additional 443 shares in the last quarter. Lazard Asset Management LLC grew its stake in Qorvo by 23,191.0% in the 1st quarter. Lazard Asset Management LLC now owns 20,729 shares of the semiconductor company’s stock valued at $2,380,000 after acquiring an additional 20,640 shares during the last quarter. Tidal Investments LLC increased its holdings in Qorvo by 302.9% during the 1st quarter. Tidal Investments LLC now owns 14,369 shares of the semiconductor company’s stock valued at $1,649,000 after acquiring an additional 10,803 shares in the last quarter. Comerica Bank increased its holdings in Qorvo by 13.3% during the 1st quarter. Comerica Bank now owns 17,363 shares of the semiconductor company’s stock valued at $1,994,000 after acquiring an additional 2,041 shares in the last quarter. Finally, LBP AM SA raised its position in Qorvo by 172.9% during the first quarter. LBP AM SA now owns 30,417 shares of the semiconductor company’s stock worth $3,493,000 after acquiring an additional 19,271 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Analyst Ratings Changes

QRVO has been the subject of a number of recent research reports. Raymond James cut shares of Qorvo from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Bank of America cut their price target on Qorvo from $115.00 to $80.00 and set an “underperform” rating for the company in a report on Wednesday, October 30th. Rosenblatt Securities increased their price objective on Qorvo from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Craig Hallum cut their target price on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their price target on shares of Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Qorvo presently has a consensus rating of “Hold” and a consensus price target of $102.88.

Insider Buying and Selling

In other news, VP Gina Harrison sold 689 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $107.67, for a total transaction of $74,184.63. Following the completion of the sale, the vice president now directly owns 21,601 shares in the company, valued at $2,325,779.67. This trade represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is currently owned by insiders.

Qorvo Stock Performance

Shares of QRVO stock opened at $69.71 on Tuesday. The company’s fifty day simple moving average is $90.08 and its 200-day simple moving average is $103.14. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. Qorvo, Inc. has a 52 week low of $64.98 and a 52 week high of $130.99. The company has a market cap of $6.59 billion, a PE ratio of -47.75, a P/E/G ratio of 5.55 and a beta of 1.49.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.85 by $0.03. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The firm’s revenue was down 5.2% compared to the same quarter last year. During the same period last year, the company posted $1.99 earnings per share. As a group, equities research analysts anticipate that Qorvo, Inc. will post 3.37 EPS for the current year.

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.