Qorvo, Inc. (NASDAQ:QRVO) Holdings Decreased by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC lessened its stake in Qorvo, Inc. (NASDAQ:QRVO) by 0.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,077 shares of the semiconductor company’s stock after selling 115 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Qorvo were worth $6,855,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Wedmont Private Capital increased its stake in shares of Qorvo by 2.3% during the second quarter. Wedmont Private Capital now owns 7,812 shares of the semiconductor company’s stock valued at $959,000 after acquiring an additional 176 shares during the period. Czech National Bank raised its stake in shares of Qorvo by 8.3% in the 2nd quarter. Czech National Bank now owns 18,398 shares of the semiconductor company’s stock worth $2,135,000 after buying an additional 1,412 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Qorvo by 114.0% in the second quarter. SG Americas Securities LLC now owns 29,020 shares of the semiconductor company’s stock valued at $3,367,000 after buying an additional 15,457 shares during the period. BDF Gestion bought a new position in Qorvo during the second quarter valued at about $1,556,000. Finally, CWM LLC grew its holdings in Qorvo by 6.8% during the second quarter. CWM LLC now owns 3,060 shares of the semiconductor company’s stock worth $355,000 after acquiring an additional 196 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. StockNews.com lowered shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. The Goldman Sachs Group increased their price objective on Qorvo from $105.00 to $118.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price on Qorvo from $100.00 to $115.00 and gave the stock an “underweight” rating in a report on Wednesday, July 31st. Needham & Company LLC upped their target price on Qorvo from $110.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Susquehanna dropped their price target on Qorvo from $145.00 to $135.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $121.00.

Qorvo Stock Down 1.4 %

Shares of Qorvo stock traded down $1.59 during trading on Wednesday, hitting $109.42. 113,247 shares of the stock traded hands, compared to its average volume of 1,369,584. The company has a fifty day moving average price of $114.77 and a two-hundred day moving average price of $110.86. Qorvo, Inc. has a twelve month low of $80.62 and a twelve month high of $130.99. The company has a quick ratio of 1.36, a current ratio of 1.95 and a debt-to-equity ratio of 0.44.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.16. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. The company had revenue of $886.70 million during the quarter, compared to the consensus estimate of $851.95 million. During the same quarter in the prior year, the company posted $0.03 EPS. The firm’s revenue was up 36.2% on a year-over-year basis. As a group, research analysts forecast that Qorvo, Inc. will post 4.84 EPS for the current year.

Insider Buying and Selling

In related news, CEO Robert A. Bruggeworth sold 15,279 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 190,161 shares of the company’s stock, valued at $19,016,100. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Robert A. Bruggeworth sold 4,721 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $100.00, for a total value of $472,100.00. Following the sale, the chief executive officer now owns 205,440 shares in the company, valued at approximately $20,544,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert A. Bruggeworth sold 15,279 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were 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 $19,016,100. The disclosure for this sale can be found here. 0.46% of the stock is owned by company insiders.

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.