Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lowered its position in Qorvo, Inc. (NASDAQ:QRVO) by 45.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,517 shares of the semiconductor company’s stock after selling 16,390 shares during the period. Mackenzie Financial Corp’s holdings in Qorvo were worth $2,198,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of QRVO. Wahed Invest LLC grew its stake in Qorvo by 7.5% during the 3rd quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company’s stock valued at $147,000 after acquiring an additional 108 shares in the last quarter. Teacher Retirement System of Texas grew its stake in shares of Qorvo by 1.5% in the 3rd quarter. Teacher Retirement System of Texas now owns 7,669 shares of the semiconductor company’s stock valued at $732,000 after buying an additional 116 shares during the period. CWM LLC grew its stake in shares of Qorvo by 6.3% in the 3rd quarter. CWM LLC now owns 3,022 shares of the semiconductor company’s stock valued at $288,000 after buying an additional 179 shares during the period. Hanson & Doremus Investment Management grew its stake in shares of Qorvo by 1.6% in the 3rd quarter. Hanson & Doremus Investment Management now owns 12,437 shares of the semiconductor company’s stock valued at $1,187,000 after buying an additional 190 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in shares of Qorvo by 8.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,467 shares of the semiconductor company’s stock valued at $278,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Price Performance

Shares of QRVO opened at $107.98 on Wednesday. Qorvo, Inc. has a twelve month low of $80.62 and a twelve month high of $121.65. The firm’s fifty day simple moving average is $113.60 and its 200-day simple moving average is $104.70. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.33 and a current ratio of 1.90.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1 billion. As a group, equities research analysts expect that Qorvo, Inc. will post 4.95 EPS for the current year.

Wall Street Analyst Weigh In

QRVO has been the subject of several analyst reports. StockNews.com cut shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. The Goldman Sachs Group increased their price target on shares of Qorvo from $104.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Craig Hallum upped their price objective on shares of Qorvo from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. upped their price objective on shares of Qorvo from $95.00 to $105.00 and gave the stock an “underweight” rating in a report on Thursday, February 1st. Finally, Raymond James upped their price objective on shares of Qorvo from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $111.53.

Insider Activity

In other news, VP Gina Harrison sold 354 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $40,356.00. Following the sale, the vice president now directly owns 18,442 shares in the company, valued at approximately $2,102,388. The sale was disclosed in a document filed 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 stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $345,078.00. Following the transaction, the senior vice president now directly owns 29,705 shares of the company’s stock, valued at approximately $3,386,370. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Gina Harrison sold 354 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $40,356.00. Following the completion of the transaction, the vice president now directly owns 18,442 shares in the company, valued at $2,102,388. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,381 shares of company stock worth $745,434. 0.43% of the stock is currently owned by corporate insiders.

Qorvo Company Profile

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.