Amalgamated Bank Sells 819 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Amalgamated Bank trimmed its position in Qorvo, Inc. (NASDAQ:QRVO) by 4.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 19,647 shares of the semiconductor company’s stock after selling 819 shares during the period. Amalgamated Bank’s holdings in Qorvo were worth $2,280,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in shares of Qorvo by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,323,463 shares of the semiconductor company’s stock valued at $153,558,000 after acquiring an additional 4,386 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Qorvo by 106.8% during the 2nd quarter. William Blair Investment Management LLC now owns 4,631 shares of the semiconductor company’s stock valued at $537,000 after purchasing an additional 2,392 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Qorvo by 14.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 11,227 shares of the semiconductor company’s stock worth $1,242,000 after buying an additional 1,391 shares during the last quarter. Royal London Asset Management Ltd. grew its position in Qorvo by 0.6% during the second quarter. Royal London Asset Management Ltd. now owns 38,548 shares of the semiconductor company’s stock valued at $4,473,000 after buying an additional 221 shares during the period. Finally, Global X Japan Co. Ltd. raised its position in Qorvo by 48.3% in the second quarter. Global X Japan Co. Ltd. now owns 11,035 shares of the semiconductor company’s stock worth $1,281,000 after acquiring an additional 3,592 shares during the period. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Insiders Place Their Bets

In related news, VP Gina Harrison sold 689 shares of Qorvo 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 sale, the vice president now directly owns 21,601 shares in the company, valued at $2,325,779.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

QRVO has been the subject of several research analyst reports. Rosenblatt Securities raised their price target on shares of Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group upped their price target on Qorvo from $105.00 to $118.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Needham & Company LLC lifted their price objective on Qorvo from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com lowered shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $120.00 price target (up from $105.00) on shares of Qorvo in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Qorvo currently has a consensus rating of “Hold” and an average target price of $121.00.

Qorvo Trading Up 0.8 %

NASDAQ QRVO opened at $102.97 on Wednesday. The stock has a market cap of $9.79 billion, a P/E ratio of -141.05, a price-to-earnings-growth ratio of 1.23 and a beta of 1.46. Qorvo, Inc. has a fifty-two week low of $80.62 and a fifty-two week high of $130.99. The stock has a 50 day simple moving average of $111.01 and a two-hundred day simple moving average of $110.15. 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 issued its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.16. The business had revenue of $886.70 million for the quarter, compared to the consensus estimate of $851.95 million. Qorvo had a negative net margin of 0.66% and a positive return on equity of 14.92%. The company’s quarterly revenue was up 36.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.03 EPS. On average, analysts forecast that Qorvo, Inc. will post 4.8 earnings per share for the current year.

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.