Mn Services Vermogensbeheer B.V. Lowers Position in Qorvo, Inc. (NASDAQ:QRVO)

Mn Services Vermogensbeheer B.V. reduced its stake in Qorvo, Inc. (NASDAQ:QRVO) by 3.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,800 shares of the semiconductor company’s stock after selling 1,800 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Qorvo were worth $5,158,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in Qorvo during the first quarter worth $40,000. AlphaCrest Capital Management LLC boosted its holdings in Qorvo by 23.2% during the 1st quarter. AlphaCrest Capital Management LLC now owns 3,640 shares of the semiconductor company’s stock valued at $452,000 after acquiring an additional 685 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Qorvo by 4.9% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,508 shares of the semiconductor company’s stock valued at $1,800,000 after acquiring an additional 673 shares in the last quarter. Cibc World Market Inc. increased its stake in Qorvo by 10.4% during the first quarter. Cibc World Market Inc. now owns 8,979 shares of the semiconductor company’s stock worth $1,114,000 after purchasing an additional 843 shares during the period. Finally, Sei Investments Co. increased its stake in Qorvo by 18.0% during the 1st quarter. Sei Investments Co. now owns 120,566 shares of the semiconductor company’s stock worth $15,024,000 after buying an additional 18,397 shares during the period. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Qorvo Price Performance

NASDAQ:QRVO opened at $111.15 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.43. The firm’s fifty day moving average price is $114.00 and its 200 day moving average price is $104.33. Qorvo, Inc. has a 1-year low of $80.62 and a 1-year high of $121.65.

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

Analyst Ratings Changes

QRVO has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $125.00 target price on shares of Qorvo in a report on Thursday, February 1st. Craig Hallum boosted their target price on Qorvo from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Raymond James increased their price target on shares of Qorvo from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Barclays raised their price objective on shares of Qorvo from $95.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Finally, JPMorgan Chase & Co. upped their target price on shares of Qorvo from $95.00 to $105.00 and gave the company an “underweight” rating in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $111.53.

Insider Activity

In related news, SVP Steven E. Creviston sold 3,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $120.00, for a total transaction of $360,000.00. Following the transaction, the senior vice president now owns 77,552 shares of the company’s stock, valued at $9,306,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Paul J. Fego sold 3,027 shares of the business’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 $345,078.00. Following the sale, the senior vice president now owns 29,705 shares of the company’s stock, valued at approximately $3,386,370. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Steven E. Creviston sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $120.00, for a total value of $360,000.00. Following the completion of the transaction, the senior vice president now directly owns 77,552 shares of the company’s stock, valued at $9,306,240. The disclosure for this sale can be found here. Insiders sold 6,381 shares of company stock valued at $745,434 in the last three months. 0.43% of the stock is currently owned by company insiders.

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.