Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd lowered its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,792 shares of the semiconductor company’s stock after selling 109 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Qorvo were worth $904,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Qorvo during the 2nd quarter worth approximately $29,000. Park Place Capital Corp boosted its stake in shares of Qorvo by 398.1% during the first quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 207 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Qorvo by 81.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 115 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Qorvo by 9,333.3% in the 2nd quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 280 shares in the last quarter. Finally, New Millennium Group LLC acquired a new stake in shares of Qorvo during the 2nd quarter worth about $34,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Stock Performance

Shares of Qorvo stock opened at $100.46 on Tuesday. The firm has a market cap of $9.53 billion, a PE ratio of -137.62, a price-to-earnings-growth ratio of 1.28 and a beta of 1.46. Qorvo, Inc. has a 1 year low of $80.62 and a 1 year high of $130.99. The firm’s 50-day simple moving average is $114.12 and its 200-day simple moving average is $110.91. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.36 and a current ratio of 1.95.

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

Insider Buying and Selling at Qorvo

In related news, VP Gina Harrison sold 689 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 21,601 shares in the company, valued at approximately $2,325,779.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on QRVO. TD Cowen boosted their price target on Qorvo from $110.00 to $125.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Barclays increased their price objective on shares of Qorvo from $100.00 to $125.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Susquehanna lowered their target price on shares of Qorvo from $145.00 to $135.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price target on shares of Qorvo from $100.00 to $115.00 and gave the company an “underweight” rating in a report on Wednesday, July 31st. Finally, Rosenblatt Securities upped their price objective on Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Qorvo currently has an average rating of “Hold” and an average target price 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.