Quantinno Capital Management LP Has $2.78 Million Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Quantinno Capital Management LP lessened its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,777 shares of the semiconductor company’s stock after selling 1,020 shares during the period. Quantinno Capital Management LP’s holdings in Qorvo were worth $2,782,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in QRVO. Ameriprise Financial Inc. boosted its position in shares of Qorvo by 102.0% during the 4th quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company’s stock worth $251,577,000 after acquiring an additional 1,816,811 shares in the last quarter. FIL Ltd boosted its position in shares of Qorvo by 5.3% during the 4th quarter. FIL Ltd now owns 3,324,241 shares of the semiconductor company’s stock worth $232,464,000 after acquiring an additional 166,461 shares in the last quarter. Vulcan Value Partners LLC boosted its position in shares of Qorvo by 53.7% during the 4th quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company’s stock worth $180,487,000 after acquiring an additional 902,353 shares in the last quarter. Amundi boosted its position in shares of Qorvo by 84.4% during the 4th quarter. Amundi now owns 2,143,858 shares of the semiconductor company’s stock worth $156,673,000 after acquiring an additional 981,519 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Qorvo by 22.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,419,698 shares of the semiconductor company’s stock worth $99,280,000 after acquiring an additional 264,167 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Insider Transactions at Qorvo

In other news, Director John R. Harding sold 1,450 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total transaction of $101,630.50. Following the completion of the sale, the director now directly owns 7,597 shares in the company, valued at $532,473.73. This represents a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Qorvo Price Performance

QRVO stock opened at $78.82 on Tuesday. The company has a fifty day moving average price of $67.25 and a 200-day moving average price of $71.35. The company has a market capitalization of $7.36 billion, a P/E ratio of 281.50, a PEG ratio of 15.57 and a beta of 1.38. Qorvo, Inc. has a 52-week low of $49.46 and a 52-week high of $130.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.42. Qorvo had a net margin of 0.71% and a return on equity of 12.41%. The company had revenue of $869.47 million during the quarter, compared to analysts’ expectations of $850.13 million. During the same period in the prior year, the company posted $1.39 earnings per share. Qorvo’s revenue for the quarter was down 7.6% compared to the same quarter last year. As a group, equities analysts expect that Qorvo, Inc. will post 4.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on QRVO. Benchmark raised shares of Qorvo from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research note on Wednesday, April 30th. Morgan Stanley raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $90.00 to $106.00 in a research note on Tuesday, January 21st. TD Cowen dropped their price objective on shares of Qorvo from $90.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, April 30th. Barclays increased their price objective on shares of Qorvo from $60.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 30th. Finally, StockNews.com raised shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $91.21.

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.