MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 10,177 Shares of Qorvo, Inc. (NASDAQ:QRVO)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. decreased its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 44.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,825 shares of the semiconductor company’s stock after selling 10,177 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Qorvo were worth $897,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. lifted its position in shares of Qorvo by 102.0% in the fourth quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company’s stock worth $251,577,000 after buying an additional 1,816,811 shares in the last quarter. FIL Ltd increased its stake in Qorvo by 5.3% in the 4th quarter. FIL Ltd now owns 3,324,241 shares of the semiconductor company’s stock worth $232,464,000 after acquiring an additional 166,461 shares during the last quarter. Vulcan Value Partners LLC raised its holdings in shares of Qorvo by 53.7% during the 4th quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company’s stock worth $180,487,000 after acquiring an additional 902,353 shares in the last quarter. Amundi grew its holdings in shares of Qorvo by 84.4% in the fourth quarter. Amundi now owns 2,143,858 shares of the semiconductor company’s stock valued at $156,673,000 after purchasing an additional 981,519 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Qorvo by 22.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,419,698 shares of the semiconductor company’s stock worth $99,280,000 after purchasing an additional 264,167 shares during the last quarter. 88.57% of the stock is owned by institutional investors.

Qorvo Trading Down 2.0%

Shares of QRVO opened at $74.60 on Tuesday. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of 266.43, a PEG ratio of 15.57 and a beta of 1.38. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. Qorvo, Inc. has a 1-year low of $49.46 and a 1-year high of $130.99. The company has a 50-day moving average of $67.71 and a 200 day moving average of $71.51.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.42. The business had revenue of $869.47 million for the quarter, compared to analyst estimates of $850.13 million. Qorvo had a net margin of 0.71% and a return on equity of 12.41%. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period last year, the company posted $1.39 earnings per share. On average, research analysts expect that Qorvo, Inc. will post 4.09 EPS for the current year.

Insider Activity

In other Qorvo news, Director John R. Harding sold 1,450 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total transaction of $101,630.50. Following the transaction, the director now owns 7,597 shares of the company’s stock, valued at approximately $532,473.73. This trade represents a 16.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on QRVO shares. Loop Capital lowered their price objective on shares of Qorvo from $90.00 to $75.00 and set a “hold” rating for the company in a research report on Wednesday, April 30th. Stifel Nicolaus set a $75.00 price target on shares of Qorvo in a report on Monday, April 28th. Citigroup reduced their price objective on Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a research note on Wednesday, January 29th. Benchmark upgraded Qorvo from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research report on Wednesday, April 30th. Finally, Piper Sandler upgraded Qorvo from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $85.00 to $110.00 in a report on Monday, January 27th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $91.21.

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.