First Mercantile Trust Co. lowered its stake in Qorvo, Inc. (NASDAQ:QRVO) by 18.9% during the second quarter, Holdings Channel reports. The firm owned 16,467 shares of the semiconductor company’s stock after selling 3,830 shares during the period. First Mercantile Trust Co.’s holdings in Qorvo were worth $1,043,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Baupost Group LLC MA acquired a new stake in shares of Qorvo during the first quarter valued at $492,639,000. Chevy Chase Trust Holdings Inc. increased its stake in shares of Qorvo by 2.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 109,010 shares of the semiconductor company’s stock worth $7,474,000 after buying an additional 2,279 shares during the last quarter. British Columbia Investment Management Corp increased its stake in shares of Qorvo by 105.0% in the first quarter. British Columbia Investment Management Corp now owns 46,806 shares of the semiconductor company’s stock worth $3,209,000 after buying an additional 23,973 shares during the last quarter. CHURCHILL MANAGEMENT Corp increased its stake in shares of Qorvo by 25.7% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 37,420 shares of the semiconductor company’s stock worth $2,369,000 after buying an additional 7,661 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in shares of Qorvo by 164.5% in the first quarter. Daiwa Securities Group Inc. now owns 8,200 shares of the semiconductor company’s stock worth $562,000 after buying an additional 5,100 shares during the last quarter. Institutional investors and hedge funds own 97.39% of the company’s stock.

Qorvo, Inc. (QRVO) opened at 68.90 on Friday. The stock’s market capitalization is $8.77 billion. Qorvo, Inc. has a 52 week low of $48.28 and a 52 week high of $79.34. The stock’s 50 day moving average is $67.19 and its 200-day moving average is $68.93.

Qorvo (NASDAQ:QRVO) last released its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.80 by $0.07. Qorvo had a negative net margin of 1.40% and a positive return on equity of 10.10%. The business had revenue of $640.80 million during the quarter, compared to analyst estimates of $632.18 million. During the same period in the prior year, the business earned $1.08 earnings per share. The business’s quarterly revenue was down 8.3% on a year-over-year basis. Equities research analysts forecast that Qorvo, Inc. will post $5.54 EPS for the current year.

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A number of brokerages recently commented on QRVO. Benchmark Co. began coverage on shares of Qorvo in a research report on Tuesday, April 25th. They issued a “buy” rating for the company. MKM Partners restated a “buy” rating and issued a $90.00 price objective (up previously from $78.00) on shares of Qorvo in a research report on Tuesday, May 30th. Barclays PLC restated a “hold” rating and issued a $70.00 price objective on shares of Qorvo in a research report on Monday, May 15th. Cowen and Company restated a “market perform” rating and issued a $85.00 price objective (up previously from $74.00) on shares of Qorvo in a research report on Friday, May 26th. Finally, BMO Capital Markets restated a “hold” rating and issued a $63.00 price objective on shares of Qorvo in a research report on Monday, June 12th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $73.28.

In related news, VP James L. Klein sold 4,120 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $68.41, for a total value of $281,849.20. Following the completion of the sale, the vice president now owns 36,358 shares in the company, valued at approximately $2,487,250.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP James L. Klein sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $63.49, for a total transaction of $165,074.00. Following the completion of the sale, the vice president now owns 40,058 shares of the company’s stock, valued at approximately $2,543,282.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 145,426 shares of company stock valued at $10,440,193. Company insiders own 0.91% of the company’s stock.

About Qorvo

Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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