Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC cut its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 3.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 86,915 shares of the semiconductor company’s stock after selling 3,172 shares during the period. Calamos Advisors LLC’s holdings in Qorvo were worth $10,086,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Mather Group LLC. lifted its position in shares of Qorvo by 5.6% during the second quarter. Mather Group LLC. now owns 1,812 shares of the semiconductor company’s stock worth $208,000 after purchasing an additional 96 shares during the last quarter. Quadrature Capital Ltd lifted its position in shares of Qorvo by 0.4% during the fourth quarter. Quadrature Capital Ltd now owns 25,092 shares of the semiconductor company’s stock worth $2,825,000 after purchasing an additional 103 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Qorvo by 81.0% during the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 115 shares during the last quarter. Empirical Finance LLC lifted its position in shares of Qorvo by 3.2% during the first quarter. Empirical Finance LLC now owns 3,768 shares of the semiconductor company’s stock worth $433,000 after purchasing an additional 117 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Qorvo by 12.9% during the first quarter. GAMMA Investing LLC now owns 1,040 shares of the semiconductor company’s stock worth $119,000 after purchasing an additional 119 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Qorvo

In related news, CEO Robert A. Bruggeworth sold 15,279 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $100.00, for a total transaction of $1,527,900.00. Following the transaction, the chief executive officer now owns 190,161 shares in the company, valued at $19,016,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is owned by company insiders.

Qorvo Price Performance

Shares of NASDAQ:QRVO opened at $115.52 on Monday. The firm’s 50 day moving average is $115.87 and its two-hundred day moving average is $111.25. Qorvo, Inc. has a 52 week low of $80.62 and a 52 week high of $130.99. The firm has a market capitalization of $10.98 billion, a P/E ratio of -158.25, a PEG ratio of 1.34 and a beta of 1.46. The company has a current ratio of 1.95, a quick ratio of 1.36 and a debt-to-equity ratio of 0.44.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.71 by $0.16. Qorvo had a negative net margin of 0.66% and a positive return on equity of 14.92%. The company had revenue of $886.70 million for the quarter, compared to analyst estimates of $851.95 million. During the same quarter last year, the business earned $0.03 earnings per share. Qorvo’s revenue was up 36.2% compared to the same quarter last year. Analysts anticipate that Qorvo, Inc. will post 4.84 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on QRVO shares. Needham & Company LLC increased their price target on shares of Qorvo from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Mizuho cut their target price on shares of Qorvo from $115.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. StockNews.com cut shares of Qorvo from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Raymond James raised their target price on shares of Qorvo from $115.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, TD Cowen raised their target price on shares of Qorvo from $110.00 to $125.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $121.00.

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.