Fort Washington Investment Advisors Inc. OH cut its stake in Qorvo, Inc. (NASDAQ:QRVO) by 34.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,519 shares of the semiconductor company’s stock after selling 10,408 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Qorvo were worth $1,236,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. NEXT Financial Group Inc grew its stake in shares of Qorvo by 2.1% in the second quarter. NEXT Financial Group Inc now owns 2,370 shares of the semiconductor company’s stock worth $150,000 after acquiring an additional 49 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Qorvo by 0.7% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,442 shares of the semiconductor company’s stock worth $598,000 after acquiring an additional 62 shares during the period. Amalgamated Bank grew its stake in shares of Qorvo by 0.7% in the first quarter. Amalgamated Bank now owns 9,040 shares of the semiconductor company’s stock worth $620,000 after acquiring an additional 64 shares during the period. Federated Investors Inc. PA grew its stake in shares of Qorvo by 4.0% in the second quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock worth $147,000 after acquiring an additional 90 shares during the period. Finally, Comerica Bank grew its stake in shares of Qorvo by 0.3% in the first quarter. Comerica Bank now owns 30,858 shares of the semiconductor company’s stock worth $2,195,000 after acquiring an additional 91 shares during the period. Hedge funds and other institutional investors own 94.39% of the company’s stock.

A number of equities analysts recently issued reports on the stock. Cowen and Company reissued a “market perform” rating and issued a $85.00 price objective (up previously from $74.00) on shares of Qorvo in a report on Friday, May 26th. BMO Capital Markets reissued a “hold” rating and issued a $63.00 price objective on shares of Qorvo in a report on Monday, June 12th. Nomura assumed coverage on shares of Qorvo in a report on Tuesday, September 5th. They issued a “neutral” rating and a $75.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $86.00 price objective on shares of Qorvo in a report on Friday, May 26th. Finally, Mizuho reissued a “hold” rating and issued a $70.00 price objective on shares of Qorvo in a report on Friday, August 4th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $73.45.

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In other news, VP Steven E. Creviston sold 6,000 shares of the stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $66.94, for a total transaction of $401,640.00. Following the transaction, the vice president now owns 114,733 shares in the company, valued at approximately $7,680,227.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP James L. Klein sold 2,600 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $63.49, for a total value of $165,074.00. Following the transaction, the vice president now owns 40,058 shares in the company, valued at approximately $2,543,282.42. The disclosure for this sale can be found here. Insiders have sold a total of 78,919 shares of company stock worth $5,379,553 in the last quarter. Insiders own 0.91% of the company’s stock.

Qorvo, Inc. (NASDAQ:QRVO) opened at 75.49 on Friday. The stock’s market cap is $9.61 billion. The stock has a 50 day moving average of $58.03 and a 200 day moving average of $61.14. Qorvo, Inc. has a 12-month low of $19.18 and a 12-month high of $75.55.

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

Qorvo Company Profile

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).

Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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