Eaton Vance Management decreased its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 2.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 17,334 shares of the semiconductor company’s stock after selling 389 shares during the period. Eaton Vance Management’s holdings in Qorvo were worth $1,098,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Meiji Yasuda Life Insurance Co increased its holdings in shares of Qorvo by 14.1% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 5,660 shares of the semiconductor company’s stock valued at $358,000 after acquiring an additional 700 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Qorvo by 0.7% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,442 shares of the semiconductor company’s stock valued at $598,000 after acquiring an additional 62 shares during the last quarter. Radnor Capital Management LLC acquired a new position in shares of Qorvo during the 2nd quarter valued at about $424,000. Oppenheimer & Co. Inc. increased its holdings in shares of Qorvo by 25.8% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 4,012 shares of the semiconductor company’s stock valued at $254,000 after acquiring an additional 824 shares during the last quarter. Finally, Westpac Banking Corp increased its holdings in shares of Qorvo by 7.5% during the 2nd quarter. Westpac Banking Corp now owns 7,478 shares of the semiconductor company’s stock valued at $474,000 after acquiring an additional 521 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently commented on QRVO. Mizuho reissued a “hold” rating and set a $70.00 price objective on shares of Qorvo in a report on Friday, August 4th. Cowen and Company reissued a “hold” rating and set a $85.00 price objective on shares of Qorvo in a report on Sunday, September 17th. BidaskClub raised Qorvo from a “hold” rating to a “buy” rating in a report on Friday, August 18th. MKM Partners reissued a “buy” rating and set a $90.00 price objective (up previously from $78.00) on shares of Qorvo in a report on Tuesday, May 30th. Finally, Canaccord Genuity increased their price objective on Qorvo from $79.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $73.45.

Shares of Qorvo, Inc. (NASDAQ QRVO) opened at 71.20 on Friday. Qorvo, Inc. has a one year low of $19.18 and a one year high of $76.47. The stock’s 50 day moving average price is $61.65 and its 200 day moving average price is $61.65. The firm’s market cap is $9.06 billion.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the prior year, the company earned $1.08 earnings per share. The business’s revenue for the quarter was down 8.3% compared to the same quarter last year. On average, equities analysts anticipate that Qorvo, Inc. will post $5.54 earnings per share for the current fiscal year.

In other news, VP James L. Klein sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was 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 of the company’s stock, valued at $2,543,282.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gina Harrison sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $73.41, for a total value of $367,050.00. Following the completion of the transaction, the vice president now directly owns 17,230 shares in the company, valued at approximately $1,264,854.30. The disclosure for this sale can be found here. Insiders sold 89,919 shares of company stock worth $6,186,623 in the last ninety days. 0.91% of the stock is owned by company insiders.

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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).

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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