Amalgamated Bank Lowers Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

Amalgamated Bank cut its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 4.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,685 shares of the semiconductor company’s stock after selling 962 shares during the quarter. Amalgamated Bank’s holdings in Qorvo were worth $1,930,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in QRVO. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Qorvo during the 2nd quarter worth $29,000. EverSource Wealth Advisors LLC increased its holdings in 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 buying an additional 115 shares during the last quarter. Versant Capital Management Inc raised its position in Qorvo by 9,333.3% in the second quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 280 shares during the period. New Millennium Group LLC purchased a new position in Qorvo in the second quarter valued at about $34,000. Finally, Blue Trust Inc. boosted its stake in Qorvo by 241.6% in the second quarter. Blue Trust Inc. now owns 345 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 244 shares during the last quarter. 88.57% of the stock is owned by institutional investors.

Insider Buying and Selling at Qorvo

In other news, VP Gina Harrison sold 689 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $107.67, for a total value of $74,184.63. Following the completion of the transaction, the vice president now directly owns 21,601 shares in the company, valued at approximately $2,325,779.67. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.46% of the company’s stock.

Qorvo Stock Down 2.1 %

Shares of NASDAQ QRVO opened at $67.27 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. The business has a 50-day moving average of $96.45 and a 200-day moving average of $105.22. The firm has a market capitalization of $6.36 billion, a price-to-earnings ratio of -46.08, a PEG ratio of 5.64 and a beta of 1.49. Qorvo, Inc. has a 12 month low of $67.16 and a 12 month high of $130.99.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.03. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.99 EPS. Sell-side analysts expect that Qorvo, Inc. will post 3.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on QRVO. Raymond James cut shares of Qorvo from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Barclays lowered their target price on Qorvo from $120.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 30th. Benchmark lowered Qorvo from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Rosenblatt Securities boosted their price objective on Qorvo from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Susquehanna cut their target price on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $102.88.

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.