Qorvo, Inc. $QRVO Stock Position Cut by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 11.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,998 shares of the semiconductor company’s stock after selling 1,603 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Qorvo were worth $1,019,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Banque Transatlantique SA bought a new position in Qorvo during the 1st quarter valued at $27,000. Larson Financial Group LLC lifted its holdings in shares of Qorvo by 222.6% in the first quarter. Larson Financial Group LLC now owns 429 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 296 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in Qorvo during the first quarter valued at about $34,000. MassMutual Private Wealth & Trust FSB grew its holdings in Qorvo by 166.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 485 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 303 shares during the period. Finally, Ameritas Advisory Services LLC bought a new stake in Qorvo in the second quarter worth about $43,000. 88.57% of the stock is currently owned by institutional investors.

Qorvo Price Performance

NASDAQ QRVO opened at $92.13 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.81 and a quick ratio of 2.01. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of 108.39, a price-to-earnings-growth ratio of 1.77 and a beta of 1.42. The company has a 50 day simple moving average of $90.84 and a 200-day simple moving average of $82.87. Qorvo, Inc. has a 52-week low of $49.46 and a 52-week high of $101.11.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.30. The firm had revenue of $818.80 million for the quarter, compared to analyst estimates of $775.61 million. Qorvo had a net margin of 2.21% and a return on equity of 12.63%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.87 EPS. Equities research analysts predict that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Qorvo

In related news, SVP Paul J. Fego sold 13,612 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $95.00, for a total transaction of $1,293,140.00. Following the completion of the sale, the senior vice president directly owned 54,558 shares in the company, valued at approximately $5,183,010. This trade represents a 19.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on QRVO. Weiss Ratings restated a “sell (d+)” rating on shares of Qorvo in a research report on Wednesday, October 8th. UBS Group set a $100.00 target price on shares of Qorvo and gave the stock a “neutral” rating in a report on Wednesday, July 30th. Stifel Nicolaus set a $88.00 price target on Qorvo and gave the company a “hold” rating in a report on Wednesday, July 30th. Wall Street Zen upgraded Qorvo from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 2nd. Finally, Barclays lifted their target price on Qorvo from $70.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Qorvo has an average rating of “Hold” and an average price target of $94.82.

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.