Mercer Global Advisors Inc. ADV Sells 524 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Mercer Global Advisors Inc. ADV lessened its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 3.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,607 shares of the semiconductor company’s stock after selling 524 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Qorvo were worth $1,569,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of QRVO. Corient Private Wealth LLC increased its stake in Qorvo by 12.0% during the 4th quarter. Corient Private Wealth LLC now owns 15,341 shares of the semiconductor company’s stock valued at $1,728,000 after purchasing an additional 1,644 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Qorvo by 2.4% in the 4th quarter. Franklin Resources Inc. now owns 34,229 shares of the semiconductor company’s stock worth $3,855,000 after acquiring an additional 792 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of Qorvo by 48.1% in the 4th quarter. Orion Portfolio Solutions LLC now owns 15,184 shares of the semiconductor company’s stock worth $1,600,000 after acquiring an additional 4,931 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of Qorvo by 124.5% in the 4th quarter. Intech Investment Management LLC now owns 5,871 shares of the semiconductor company’s stock worth $661,000 after acquiring an additional 3,256 shares in the last quarter. Finally, TD Asset Management Inc grew its stake in shares of Qorvo by 7.1% in the 4th quarter. TD Asset Management Inc now owns 26,511 shares of the semiconductor company’s stock worth $2,985,000 after acquiring an additional 1,761 shares in the last quarter. Institutional investors own 88.57% of the company’s stock.

Qorvo Trading Up 0.8 %

Shares of Qorvo stock opened at $102.97 on Wednesday. Qorvo, Inc. has a 12-month low of $80.62 and a 12-month high of $130.99. The company has a market cap of $9.79 billion, a price-to-earnings ratio of -141.05, a PEG ratio of 1.23 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. The company’s 50-day moving average price is $111.01 and its 200-day moving average price is $110.15.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $886.70 million for the quarter, compared to the consensus estimate of $851.95 million. During the same period in the prior year, the firm posted $0.03 earnings per share. The company’s revenue for the quarter was up 36.2% on a year-over-year basis. On average, equities analysts expect that Qorvo, Inc. will post 4.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on QRVO shares. Craig Hallum upped their target price on shares of Qorvo from $124.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group upped their target price on shares of Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Susquehanna cut their price target on shares of Qorvo from $145.00 to $135.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Raymond James boosted their price target 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, JPMorgan Chase & Co. boosted their price target on shares of Qorvo from $100.00 to $115.00 and gave the stock an “underweight” 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $121.00.

Insider Transactions at Qorvo

In other news, VP Gina Harrison sold 689 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $107.67, for a total value of $74,184.63. Following the sale, the vice president now directly owns 21,601 shares of the company’s stock, valued at $2,325,779.67. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.46% of the company’s stock.

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.