Mirae Asset Global Investments Co. Ltd. Decreases Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Mirae Asset Global Investments Co. Ltd. trimmed its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,036 shares of the semiconductor company’s stock after selling 1,684 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.10% of Qorvo worth $10,589,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in QRVO. Parkside Financial Bank & Trust increased its holdings in Qorvo by 106.4% during the first quarter. Parkside Financial Bank & Trust now owns 225 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 116 shares during the last quarter. Resurgent Financial Advisors LLC purchased a new stake in Qorvo during the fourth quarter valued at approximately $34,000. International Assets Investment Management LLC purchased a new stake in Qorvo during the first quarter valued at approximately $40,000. RVW Wealth LLC purchased a new stake in Qorvo during the third quarter valued at approximately $53,000. Finally, Providence Capital Advisors LLC increased its holdings in Qorvo by 10,057.1% during the first quarter. Providence Capital Advisors LLC now owns 5,688 shares of the semiconductor company’s stock valued at $56,000 after buying an additional 5,632 shares during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Paul J. Fego sold 3,027 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $345,078.00. Following the sale, the senior vice president now owns 29,705 shares of the company’s stock, valued at $3,386,370. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Paul J. Fego sold 3,027 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $345,078.00. Following the sale, the senior vice president now owns 29,705 shares of the company’s stock, valued at $3,386,370. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Gina Harrison sold 354 shares of Qorvo stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $40,356.00. Following the sale, the vice president now owns 18,442 shares of the company’s stock, valued at approximately $2,102,388. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,381 shares of company stock valued at $745,434. 0.43% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on QRVO. Craig Hallum upped their target price on shares of Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Rosenblatt Securities upped their price target on shares of Qorvo from $95.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Barclays upped their price target on shares of Qorvo from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Susquehanna reiterated a “neutral” rating and issued a $100.00 price target on shares of Qorvo in a research report on Monday. Finally, StockNews.com lowered shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $111.53.

Qorvo Stock Performance

QRVO stock opened at $115.81 on Friday. Qorvo, Inc. has a 52 week low of $80.62 and a 52 week high of $121.65. The company has a current ratio of 1.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.43. The company has a fifty day simple moving average of $113.74 and a two-hundred day simple moving average of $103.88.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share 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 business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1 billion. Research analysts predict that Qorvo, Inc. will post 4.95 EPS for the current fiscal year.

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.