Crossmark Global Holdings Inc. Reduces Position in Qorvo, Inc. (NASDAQ:QRVO)

Crossmark Global Holdings Inc. trimmed its position in Qorvo, Inc. (NASDAQ:QRVO) by 10.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,416 shares of the semiconductor company’s stock after selling 280 shares during the period. Crossmark Global Holdings Inc.’s holdings in Qorvo were worth $250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Qorvo during the 2nd quarter valued at about $29,000. EverSource Wealth Advisors LLC boosted its position in Qorvo by 81.0% in the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 115 shares during the last quarter. Versant Capital Management Inc boosted its position in Qorvo by 9,333.3% in the second quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 280 shares during the last quarter. New Millennium Group LLC acquired a new position in Qorvo in the 2nd quarter worth approximately $34,000. Finally, Blue Trust Inc. lifted its stake in Qorvo by 241.6% during the 2nd quarter. Blue Trust Inc. now owns 345 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 244 shares during the period. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Trading Up 1.1 %

Shares of Qorvo stock opened at $66.32 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. Qorvo, Inc. has a twelve month low of $65.35 and a twelve month high of $130.99. The firm has a market capitalization of $6.27 billion, a PE ratio of -45.42, a P/E/G ratio of 5.26 and a beta of 1.49. The firm’s 50-day moving average price is $93.20 and its 200 day moving average price is $103.96.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.03. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company posted $1.99 earnings per share. The business’s revenue was down 5.2% on a year-over-year basis. On average, sell-side analysts predict that Qorvo, Inc. will post 3.37 EPS for the current fiscal year.

Analyst Ratings Changes

QRVO has been the subject of several recent research reports. StockNews.com cut shares of Qorvo from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. TD Cowen decreased their price objective on Qorvo from $125.00 to $85.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Morgan Stanley lowered Qorvo from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $130.00 to $120.00 in a report on Friday, October 11th. Craig Hallum decreased their price target on Qorvo from $142.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, BNP Paribas cut shares of Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price objective on the stock. in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $102.88.

Insider Activity

In other Qorvo news, VP Gina Harrison sold 689 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $107.67, for a total transaction of $74,184.63. Following the transaction, the vice president now owns 21,601 shares of the company’s stock, valued at approximately $2,325,779.67. The trade was a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.46% of the company’s stock.

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.