Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. lowered its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 12.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 872 shares of the semiconductor company’s stock after selling 120 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Qorvo were worth $101,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Corient Private Wealth LLC raised its holdings in shares of Qorvo by 12.0% in the fourth quarter. Corient Private Wealth LLC now owns 15,341 shares of the semiconductor company’s stock valued at $1,728,000 after buying an additional 1,644 shares during the last quarter. Franklin Resources Inc. lifted its position in Qorvo by 2.4% during the 4th quarter. Franklin Resources Inc. now owns 34,229 shares of the semiconductor company’s stock worth $3,855,000 after acquiring an additional 792 shares during the period. Orion Portfolio Solutions LLC increased its holdings in shares of Qorvo by 48.1% in the fourth quarter. Orion Portfolio Solutions LLC now owns 15,184 shares of the semiconductor company’s stock valued at $1,600,000 after purchasing an additional 4,931 shares during the period. TD Asset Management Inc raised its stake in shares of Qorvo by 7.1% during the fourth quarter. TD Asset Management Inc now owns 26,511 shares of the semiconductor company’s stock worth $2,985,000 after purchasing an additional 1,761 shares during the last quarter. Finally, TFO Wealth Partners LLC lifted its holdings in shares of Qorvo by 49,612.5% during the fourth quarter. TFO Wealth Partners LLC now owns 3,977 shares of the semiconductor company’s stock worth $448,000 after purchasing an additional 3,969 shares during the period. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Stock Performance

Shares of NASDAQ QRVO opened at $103.60 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.95 and a quick ratio of 1.36. The company has a market cap of $9.85 billion, a PE ratio of -141.92, a price-to-earnings-growth ratio of 1.24 and a beta of 1.46. The company has a 50-day simple moving average of $109.83 and a 200-day simple moving average of $109.96. Qorvo, Inc. has a 12 month low of $80.62 and a 12 month high of $130.99.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. The company had revenue of $886.70 million for the quarter, compared to analyst estimates of $851.95 million. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. The business’s revenue for the quarter was up 36.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 EPS. On average, equities analysts anticipate that Qorvo, Inc. will post 4.84 earnings per share for the current year.

Insider Transactions at Qorvo

In other news, VP Gina Harrison sold 689 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $107.67, for a total value of $74,184.63. Following the transaction, the vice president now directly owns 21,601 shares in the company, valued at approximately $2,325,779.67. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on QRVO. Raymond James boosted their price objective on shares of Qorvo from $115.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Piper Sandler reissued a “neutral” rating and set a $120.00 price target (up from $105.00) on shares of Qorvo in a report on Wednesday, July 31st. TD Cowen raised Qorvo to a “hold” rating in a report on Monday, September 16th. Craig Hallum increased their target price on Qorvo from $124.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Rosenblatt Securities lifted their price target on Qorvo from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $121.00.

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.