Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its position in Qorvo, Inc. (NASDAQ:QRVO) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,741 shares of the semiconductor company’s stock after selling 4,555 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.15% of Qorvo worth $14,270,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Qorvo in the 2nd quarter valued at approximately $29,000. EverSource Wealth Advisors LLC grew its stake in shares of Qorvo by 81.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 115 shares during the period. Park Place Capital Corp grew its stake in shares of Qorvo by 398.1% in the 1st quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 207 shares during the period. Versant Capital Management Inc grew its stake in shares of Qorvo by 9,333.3% in the 2nd quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 280 shares during the period. Finally, New Millennium Group LLC purchased a new stake in shares of Qorvo in the 2nd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Insider Buying and Selling

In related news, VP Gina Harrison sold 689 shares of Qorvo stock in a transaction on Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the sale, the vice president now directly owns 21,601 shares in the company, valued at $2,325,779.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is owned by company insiders.

Qorvo Price Performance

Shares of QRVO opened at $99.01 on Friday. Qorvo, Inc. has a twelve month low of $80.62 and a twelve month high of $130.99. The firm’s fifty day simple moving average is $105.32 and its 200-day simple moving average is $108.20. The firm has a market capitalization of $9.41 billion, a price-to-earnings ratio of -135.63, a PEG ratio of 1.22 and a beta of 1.45. The company has a current ratio of 1.95, a quick ratio of 1.36 and a debt-to-equity ratio of 0.44.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share for the quarter, beating 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 business had revenue of $886.70 million for the quarter, compared to analyst estimates of $851.95 million. During the same period last year, the business earned $0.03 EPS. The company’s revenue was up 36.2% on a year-over-year basis. Equities analysts forecast that Qorvo, Inc. will post 4.84 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on QRVO shares. Morgan Stanley cut shares of Qorvo from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $130.00 to $120.00 in a research note on Friday, October 11th. Barclays lowered their price objective on shares of Qorvo from $125.00 to $120.00 and set an “equal weight” rating for the company in a research report on Thursday, October 10th. TD Cowen raised shares of Qorvo to a “hold” rating in a research report on Monday, September 16th. Raymond James increased their price objective on shares of Qorvo from $115.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Susquehanna lowered their price objective on shares of Qorvo from $135.00 to $115.00 and set a “neutral” rating for the company in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $119.86.

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.