MV Capital Management Inc. Sells 517 Shares of Qorvo, Inc. (NASDAQ:QRVO)

MV Capital Management Inc. trimmed its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 43.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 666 shares of the semiconductor company’s stock after selling 517 shares during the quarter. MV Capital Management Inc.’s holdings in Qorvo were worth $75,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wahed Invest LLC grew its holdings in Qorvo by 7.5% during the third quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company’s stock valued at $147,000 after purchasing an additional 108 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of Qorvo by 106.4% during the first quarter. Parkside Financial Bank & Trust now owns 225 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 116 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of Qorvo by 1.5% during the third quarter. Teacher Retirement System of Texas now owns 7,669 shares of the semiconductor company’s stock worth $732,000 after acquiring an additional 116 shares in the last quarter. Cetera Advisor Networks LLC lifted its position in shares of Qorvo by 2.1% during the fourth quarter. Cetera Advisor Networks LLC now owns 6,088 shares of the semiconductor company’s stock worth $552,000 after acquiring an additional 123 shares in the last quarter. Finally, LPL Financial LLC lifted its position in shares of Qorvo by 0.5% during the second quarter. LPL Financial LLC now owns 27,262 shares of the semiconductor company’s stock worth $2,571,000 after acquiring an additional 127 shares in the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Steven E. Creviston sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $120.00, for a total value of $360,000.00. Following the completion of the transaction, the senior vice president now directly owns 77,552 shares in the company, valued at approximately $9,306,240. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Gina Harrison sold 354 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $40,356.00. Following the completion of the transaction, the vice president now directly owns 18,442 shares in the company, valued at approximately $2,102,388. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Steven E. Creviston sold 3,000 shares of Qorvo stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the sale, the senior vice president now directly owns 77,552 shares of the company’s stock, valued at approximately $9,306,240. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,381 shares of company stock worth $745,434. Insiders own 0.43% of the company’s stock.

Qorvo Stock Down 3.8 %

Shares of QRVO stock traded down $4.45 during trading hours on Friday, hitting $111.36. 1,222,673 shares of the company’s stock traded hands, compared to its average volume of 975,709. The stock’s fifty day simple moving average is $113.89 and its two-hundred day simple moving average is $104.05. Qorvo, Inc. has a 12-month low of $80.62 and a 12-month high of $121.65. The stock has a market cap of $10.75 billion, a price-to-earnings ratio of -51.80, a PEG ratio of 0.86 and a beta of 1.56. The company has a quick ratio of 1.33, a current ratio of 1.90 and a debt-to-equity ratio of 0.43.

Qorvo (NASDAQ:QRVO) last released its earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.47. Qorvo had a negative net margin of 6.11% and a positive return on equity of 10.41%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1 billion. On average, analysts expect that Qorvo, Inc. will post 4.95 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $125.00 target price on shares of Qorvo in a research report on Thursday, February 1st. Susquehanna reiterated a “neutral” rating and issued a $100.00 price objective on shares of Qorvo in a research report on Monday, April 8th. Raymond James increased their price objective on Qorvo from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. The Goldman Sachs Group increased their price objective on Qorvo from $104.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Finally, Barclays increased their price objective on Qorvo from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $111.53.

Qorvo Profile

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.