Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 0.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,944 shares of the semiconductor company’s stock after selling 173 shares during the period. Amalgamated Bank’s holdings in Qorvo were worth $3,485,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Huntington National Bank grew its stake in shares of Qorvo by 8,090.0% during the third quarter. Huntington National Bank now owns 819 shares of the semiconductor company’s stock worth $78,000 after purchasing an additional 809 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Qorvo during the 4th quarter worth about $104,000. Allworth Financial LP increased its holdings in shares of Qorvo by 16.7% in the 3rd quarter. Allworth Financial LP now owns 1,416 shares of the semiconductor company’s stock valued at $135,000 after acquiring an additional 203 shares during the last quarter. Wahed Invest LLC raised its position in shares of Qorvo by 7.5% during the 3rd quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company’s stock worth $147,000 after acquiring an additional 108 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in Qorvo during the third quarter worth approximately $203,000. 88.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on QRVO. Benchmark cut their price objective on shares of Qorvo from $136.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Rosenblatt Securities boosted their price target on shares of Qorvo from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Craig Hallum upped their price objective on shares of Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. cut their target price on Qorvo from $105.00 to $100.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. Finally, Susquehanna decreased their target price on Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $110.83.

Qorvo Price Performance

Shares of NASDAQ:QRVO opened at $97.02 on Friday. The company has a market cap of $9.37 billion, a P/E ratio of -132.90, a PEG ratio of 0.90 and a beta of 1.53. The company has a 50-day moving average price of $111.79 and a 200 day moving average price of $105.74. Qorvo, Inc. has a 52 week low of $80.62 and a 52 week high of $121.65. The company has a quick ratio of 1.41, a current ratio of 1.99 and a debt-to-equity ratio of 0.44.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. The firm had revenue of $941.00 million for the quarter, compared to the consensus estimate of $927.24 million. Qorvo had a positive return on equity of 13.43% and a negative net margin of 1.86%. The company’s revenue for the quarter was up 48.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 earnings per share. Research analysts predict that Qorvo, Inc. will post 6.69 earnings per share for the current year.

Insider Activity at Qorvo

In other Qorvo news, VP Gina Harrison sold 354 shares of the stock in a transaction dated 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 of the company’s stock, valued at $2,102,388. The sale was disclosed in a filing with the SEC, which is available at this link. In other Qorvo news, SVP Paul J. Fego sold 3,027 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 $345,078.00. Following the completion of the transaction, the senior vice president now owns 29,705 shares in the company, valued at $3,386,370. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Gina Harrison sold 354 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $40,356.00. Following the completion of the sale, the vice president now owns 18,442 shares in the company, valued at $2,102,388. The disclosure for this sale can be found here. Insiders sold 6,381 shares of company stock worth $745,434 over the last 90 days. Company insiders own 0.43% of the company’s stock.

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.