Calamos Advisors LLC Sells 1,206 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Calamos Advisors LLC lessened its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 96,105 shares of the semiconductor company’s stock after selling 1,206 shares during the period. Calamos Advisors LLC’s holdings in Qorvo were worth $10,822,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust grew its position in Qorvo by 106.4% in the first quarter. Parkside Financial Bank & Trust now owns 225 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 116 shares during the last quarter. Resurgent Financial Advisors LLC bought a new stake in shares of Qorvo during the fourth quarter worth about $34,000. International Assets Investment Management LLC bought a new stake in shares of Qorvo during the first quarter worth about $40,000. Providence Capital Advisors LLC grew its holdings in shares of Qorvo by 10,057.1% during the first quarter. Providence Capital Advisors LLC now owns 5,688 shares of the semiconductor company’s stock worth $56,000 after purchasing an additional 5,632 shares during the last quarter. Finally, Zions Bancorporation N.A. grew its holdings in shares of Qorvo by 3,833.3% during the first quarter. Zions Bancorporation N.A. now owns 472 shares of the semiconductor company’s stock worth $59,000 after purchasing an additional 460 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Insider Transactions at Qorvo

In other news, VP Gina Harrison sold 354 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $40,356.00. Following the transaction, the vice president now directly owns 18,442 shares of the company’s stock, valued at $2,102,388. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Paul J. Fego sold 3,027 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $345,078.00. Following the completion of the sale, the senior vice president now owns 29,705 shares in the company, valued at $3,386,370. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Gina Harrison sold 354 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $40,356.00. Following the sale, the vice president now owns 18,442 shares of the company’s stock, valued at approximately $2,102,388. The disclosure for this sale can be found here. Insiders have sold 6,381 shares of company stock valued at $745,434 over the last ninety days. 0.43% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on QRVO shares. JPMorgan Chase & Co. boosted their price target on Qorvo from $95.00 to $105.00 and gave the stock an “underweight” rating in a report on Thursday, February 1st. Susquehanna restated a “neutral” rating and set a $100.00 price target on shares of Qorvo in a report on Monday, April 8th. Needham & Company LLC restated a “buy” rating and set a $125.00 price target on shares of Qorvo in a report on Thursday, February 1st. Piper Sandler reduced their target price on Qorvo from $120.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, February 1st. Finally, Craig Hallum upped their target price on Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $111.53.

Qorvo Price Performance

Shares of QRVO opened at $104.88 on Friday. Qorvo, Inc. has a 52-week low of $80.62 and a 52-week high of $121.65. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.90 and a quick ratio of 1.33. The business’s 50 day moving average price is $113.74 and its two-hundred day moving average price is $104.46.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.47. Qorvo had a positive return on equity of 10.41% and a negative net margin of 6.11%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1 billion. Research analysts forecast that Qorvo, Inc. will post 4.95 EPS for the current year.

About Qorvo

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.