Chevy Chase Trust Holdings LLC sells 749 shares of Qorvo, Inc. (NASDAQ:QRVO)

Chevy Chase Trust Holdings LLC reduced its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO – Free Report) by 1.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,893 shares of the semiconductor company’s stock after selling 749 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Qorvo were worth $6,138,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of QRVO. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Qorvo in the second quarter valued at $29,000. Park Place Capital Corp lifted its position in Qorvo by 398.1% in the first quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 207 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Qorvo by 81.0% in the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 115 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Qorvo by 9,333.3% in the second quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 280 shares during the period. Finally, Riverview Trust Co acquired a new stake in Qorvo in the 1st quarter valued at $40,000. 88.57% of the shares are held by hedge funds and other institutional investors.

Inside activity at Qorvo

In other Qorvo news, CEO Robert A. Bruggeworth sold 15,279 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $100.00, for a total value of $1,527,900.00. Following the completion of the transaction, the chief executive officer now owns 190,161 shares in the company, valued at $19,016,100. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.46% of shares are owned by company insiders.

Qorvo stock performance

Shares of Qorvo stock opened at $112.92 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.36, and a current ratio of 1.95. The company has a market cap of $10.71 billion, a PE ratio of -154.68, a P/E/G ratio of 1.34 and a beta of 1.46. Qorvo, Inc. has a one year low of $80.62 and a one year high of $130.99. The company has a 50 day simple moving average of $115.86 and a two hundred day simple moving average of $111.17.

Qorvo (NASDAQ:QRVO – Get Your Free Report ) last posted its earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.71 by $0.16. The firm had revenue of $886.70 million for the quarter, compared to analyst estimates of $851.95 million. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. Qorvo’s revenue for the quarter was up 36.2% compared to the same quarter last year. During the same period last year, the company earned $0.03 per share. Research analysts expect that Qorvo, Inc. to record 4.84 EPS for the current fiscal year.

Analysts on Wall Street are forecasting an increase

QRVO has been the subject of several analyst reports. Craig Hallum lifted their price target on shares of Qorvo from $124.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Susquehanna decreased their price objective on Qorvo from $145.00 to $135.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Rosenblatt Securities boosted their price objective on Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Goldman Sachs Group upped their target price on shares of Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Barclays raised their target price on shares of Qorvo from $100.00 to $125.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $121.00, according to MarketBeat.com.

Check out our latest Qorvo review

About Qorvo

(Free Report)

Qorvo, Inc is engaged in the development and commercialization of technologies and products for the wireless, wireline and energy markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG) and Advanced Cellular Group (ACG). The HPA segment provides radio frequency and power management solutions for the automotive, defense and aerospace, cellular infrastructure, broadband and other markets.

See Also

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