American International Group Inc. reduced its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 14.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,579 shares of the semiconductor company’s stock after selling 7,271 shares during the period. American International Group Inc.’s holdings in Qorvo were worth $2,939,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in 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 worth $598,000 after acquiring an additional 62 shares in the last quarter. Federated Investors Inc. PA increased its stake in Qorvo by 4.0% in the second quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock valued at $147,000 after purchasing an additional 90 shares during the period. Sentry Investment Management LLC increased its stake in Qorvo by 1.4% in the second quarter. Sentry Investment Management LLC now owns 6,648 shares of the semiconductor company’s stock valued at $421,000 after purchasing an additional 95 shares during the period. Louisiana State Employees Retirement System increased its stake in Qorvo by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 7,900 shares of the semiconductor company’s stock valued at $500,000 after purchasing an additional 100 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Qorvo by 1.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 7,526 shares of the semiconductor company’s stock valued at $477,000 after purchasing an additional 111 shares during the period. 96.74% of the stock is owned by institutional investors and hedge funds.

Qorvo, Inc. (NASDAQ QRVO) opened at $67.88 on Friday. Qorvo, Inc. has a 52-week low of $52.05 and a 52-week high of $81.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.71 and a current ratio of 3.80. The company has a market cap of $8,737.62, a P/E ratio of 17.18, a P/E/G ratio of 1.16 and a beta of 1.02.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported $1.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.52. Qorvo had a negative net margin of 0.59% and a positive return on equity of 10.77%. The company had revenue of $821.60 million during the quarter, compared to analyst estimates of $810.47 million. During the same quarter in the prior year, the business earned $1.29 earnings per share. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. equities research analysts expect that Qorvo, Inc. will post 4.74 EPS for the current fiscal year.

In other Qorvo news, Director Roderick Nelson sold 860 shares of the stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $69.03, for a total transaction of $59,365.80. Following the transaction, the director now directly owns 3,762 shares in the company, valued at approximately $259,690.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Gina Harrison sold 1,000 shares of the stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $71.53, for a total transaction of $71,530.00. Following the transaction, the vice president now owns 15,954 shares in the company, valued at $1,141,189.62. The disclosure for this sale can be found here. Insiders sold 60,696 shares of company stock valued at $4,605,411 over the last 90 days. Insiders own 0.91% of the company’s stock.

A number of research analysts have commented on QRVO shares. Instinet started coverage on shares of Qorvo in a research note on Wednesday, September 6th. They issued a “neutral” rating and a $75.00 price objective on the stock. Craig Hallum reiterated a “buy” rating on shares of Qorvo in a research note on Wednesday, September 13th. Mizuho reiterated a “hold” rating and set a $70.00 price target on shares of Qorvo in a research note on Monday, October 9th. J P Morgan Chase & Co set a $88.00 price target on shares of Qorvo and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Finally, KeyCorp reissued a “sector perform” rating on shares of Qorvo in a report on Thursday, September 14th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company’s stock. Qorvo presently has an average rating of “Hold” and a consensus target price of $76.74.

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Qorvo 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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