Securian Asset Management Inc Sells 200 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Securian Asset Management Inc reduced its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 2.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,692 shares of the semiconductor company’s stock after selling 200 shares during the period. Securian Asset Management Inc’s holdings in Qorvo were worth $1,896,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Rafferty Asset Management LLC grew its position in shares of Qorvo by 11.5% during the 2nd quarter. Rafferty Asset Management LLC now owns 358,375 shares of the semiconductor company’s stock valued at $70,116,000 after acquiring an additional 37,017 shares during the period. Aspire Private Capital LLC grew its position in shares of Qorvo by 50.6% during the 2nd quarter. Aspire Private Capital LLC now owns 3,077 shares of the semiconductor company’s stock valued at $602,000 after acquiring an additional 1,034 shares during the period. Clark Financial Services Group Inc. BD bought a new position in shares of Qorvo during the 2nd quarter valued at approximately $531,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Qorvo by 12.5% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 21,014 shares of the semiconductor company’s stock valued at $4,111,000 after acquiring an additional 2,331 shares during the period. Finally, Essex Private Wealth Management LLC grew its position in shares of Qorvo by 10.9% during the 2nd quarter. Essex Private Wealth Management LLC now owns 1,511 shares of the semiconductor company’s stock valued at $296,000 after acquiring an additional 148 shares during the period. 83.76% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently weighed in on QRVO. Morgan Stanley increased their target price on shares of Qorvo from $223.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday, August 5th. BMO Capital Markets raised their price objective on shares of Qorvo from $190.00 to $200.00 and gave the stock a “market perform” rating in a report on Thursday, August 5th. Argus began coverage on shares of Qorvo in a report on Thursday, July 1st. They issued a “buy” rating and a $225.00 price objective for the company. Barclays raised their price objective on shares of Qorvo from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, June 29th. Finally, Craig Hallum raised their price objective on shares of Qorvo from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, August 5th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $209.05.

In other Qorvo news, VP Gina Harrison sold 1,187 shares of the firm’s stock in a transaction on Tuesday, September 7th. The shares were sold at an average price of $185.16, for a total value of $219,784.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert A. Bruggeworth sold 4,868 shares of the firm’s stock in a transaction on Wednesday, August 18th. The stock was sold at an average price of $181.80, for a total transaction of $885,002.40. Following the completion of the sale, the chief executive officer now directly owns 154,510 shares in the company, valued at approximately $28,089,918. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,551 shares of company stock worth $1,757,560. Corporate insiders own 0.52% of the company’s stock.

Qorvo stock opened at $182.13 on Wednesday. The firm’s fifty day moving average price is $188.23 and its 200-day moving average price is $184.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.56 and a current ratio of 3.37. The stock has a market cap of $20.24 billion, a P/E ratio of 22.68, a price-to-earnings-growth ratio of 1.26 and a beta of 1.36. Qorvo, Inc. has a fifty-two week low of $123.08 and a fifty-two week high of $201.68.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Wednesday, August 4th. The semiconductor company reported $2.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.45 by $0.38. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Qorvo had a net margin of 21.26% and a return on equity of 26.25%. The business’s quarterly revenue was up 41.0% on a year-over-year basis. During the same quarter last year, the company posted $1.50 EPS. On average, analysts predict that Qorvo, Inc. will post 11.21 earnings per share for the current year.

Qorvo Profile

Qorvo, Inc engages in the provision of development and commercialization of technologies and products for wireless and wired connectivity. It operates through the following reportable segments: Mobile Products and Infrastructure & Defense Products. The Mobile Products segment is involved in supplyingof cellular, UWB, and Wi-Fi solutions for applications, including smartphones, wearables, laptops, tablets, and Internet of things.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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