Mutual of America Capital Management LLC sells 483 shares of Qorvo, Inc. (NASDAQ:QRVO)

Mutual of America Capital Management LLC reduced its position in Qorvo, Inc. (NASDAQ:QRVO – Free Report) by 3.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,176 shares of the semiconductor company’s stock after selling 483 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Qorvo were worth $1,413,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. boosted its position in shares of Qorvo by 1,361.9% in the first quarter. Bessemer Group Inc. now owns 13,596 shares of the semiconductor company’s stock valued at $1,562,000 after purchasing an additional 12,666 shares during the last quarter. FIL Ltd boosted its stake in Qorvo by 4.5% in the fourth quarter. FIL Ltd now owns 2,778,629 shares of the semiconductor company’s stock worth $312,901,000 after acquiring an additional 120,213 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Qorvo by 44.4% in the first quarter. Daiwa Securities Group Inc. now owns 13,247 shares of the semiconductor company’s stock valued at $1,521,000 after purchasing an additional 4,072 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Qorvo by 23.8% in the first quarter. Canada Pension Plan Investment Board now owns 370,200 shares of the semiconductor company’s stock valued at $42,510,000 after purchasing an additional 71,200 shares during the period. Finally, Leeward Investments LLC MA boosted its holdings in shares of Qorvo by 50.6% in the first quarter. Leeward Investments LLC MA now owns 154,346 shares of the semiconductor company’s stock worth $17,724,000 after purchasing an additional 51,850 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s shares.

Analyst upgrades and downgrades

QRVO has been the subject of several analyst reports. Barclays boosted their target price on Qorvo from $100.00 to $125.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Rosenblatt Securities boosted their target price on shares of Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price on shares of Qorvo from $100.00 to $115.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. StockNews.com lowered shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC raised their price objective on shares of Qorvo from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $121.00, according to MarketBeat.com.

See our latest report on QRVO

Inside activity at Qorvo

In other Qorvo news, VP Gina Harrison sold 689 shares of Qorvo stock in a transaction on Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the completion of the sale, the vice president now owns 21,601 shares of the company’s stock, valued at approximately $2,325,779.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. 0.46% of shares are currently owned by company insiders.

Qorvo trading up 2.4%

Shares of QRVO opened at $104.96 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.95, and a debt-to-equity ratio of 0.44. Qorvo, Inc. has a 12-month low of $80.62 and a 12-month high of $130.99. The company has a market cap of $9.97 billion, a P/E ratio of -143.78, a PEG ratio of 1.24 and a beta of 1.46. The company has a fifty day moving average of $110.19 and a 200 day moving average of $110.06.

Qorvo (NASDAQ:QRVO – Get Your Free Report ) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.16. The firm had revenue of $886.70 million during the quarter, compared to analysts’ expectations of $851.95 million. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. The company’s quarterly revenue was up 36.2% compared to the same quarter last year. During the same period in the previous year, the business posted EPS of $0.03. As a group, equities research analysts expect Qorvo, Inc. to post 4.84 EPS for the current year.

Qorvo Company Profile

(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.

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