Paradigm Capital Management Inc. NY Has $5.77 Million Holdings in Qorvo, Inc. (QRVO)

Paradigm Capital Management Inc. NY decreased its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 5.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 91,080 shares of the semiconductor company’s stock after selling 5,000 shares during the period. Paradigm Capital Management Inc. NY owned 0.07% of Qorvo worth $5,767,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Wells Fargo & Company MN increased its stake in shares of Qorvo by 1.2% during the second quarter. Wells Fargo & Company MN now owns 114,834 shares of the semiconductor company’s stock valued at $7,271,000 after purchasing an additional 1,409 shares in the last quarter. Meiji Yasuda Life Insurance Co increased its stake in shares of Qorvo by 14.1% during the second quarter. Meiji Yasuda Life Insurance Co now owns 5,660 shares of the semiconductor company’s stock valued at $358,000 after purchasing an additional 700 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Qorvo by 0.7% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,442 shares of the semiconductor company’s stock valued at $598,000 after purchasing an additional 62 shares in the last quarter. Radnor Capital Management LLC bought a new position in shares of Qorvo during the second quarter valued at approximately $424,000. Finally, Oppenheimer & Co. Inc. increased its stake in shares of Qorvo by 25.8% during the second quarter. Oppenheimer & Co. Inc. now owns 4,012 shares of the semiconductor company’s stock valued at $254,000 after purchasing an additional 824 shares in the last quarter. 94.39% of the stock is owned by institutional investors and hedge funds.

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Several equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Qorvo from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 21st. Needham & Company LLC raised their price target on shares of Qorvo from $70.00 to $86.00 and gave the company a “buy” rating in a research report on Friday, May 26th. BidaskClub downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Charter Equity reissued a “buy” rating on shares of Qorvo in a research report on Monday, May 15th. Finally, Mizuho reissued a “neutral” rating and set a $72.00 price target (up previously from $68.00) on shares of Qorvo in a research report on Sunday, May 28th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the stock. Qorvo presently has a consensus rating of “Hold” and an average price target of $73.45.

Shares of Qorvo, Inc. (QRVO) traded up 0.58% on Tuesday, hitting $73.05. 73,594 shares of the stock traded hands. The stock has a 50 day moving average of $19.33 and a 200 day moving average of $19.33. The company’s market cap is $9.30 billion. Qorvo, Inc. has a one year low of $19.18 and a one year high of $73.23.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.07. The firm had revenue of $640.80 million for the quarter, compared to analyst estimates of $632.18 million. Qorvo had a negative net margin of 1.40% and a positive return on equity of 10.10%. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.08 earnings per share. Equities analysts anticipate that Qorvo, Inc. will post $5.54 earnings per share for the current year.

In other news, insider Robert A. Bruggeworth sold 6,769 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $71.34, for a total value of $482,900.46. Following the sale, the insider now owns 219,719 shares in the company, valued at $15,674,753.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert A. Bruggeworth sold 27,839 shares of the stock in a transaction on Friday, July 7th. The stock was sold at an average price of $65.03, for a total transaction of $1,810,370.17. Following the completion of the sale, the insider now owns 217,042 shares in the company, valued at approximately $14,114,241.26. The disclosure for this sale can be found here. Insiders sold 84,919 shares of company stock worth $5,804,053 in the last quarter. Company insiders own 0.91% of the company’s stock.

Qorvo Profile

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).

Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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