Qorvo Inc (QRVO) Shares Sold by Korea Investment CORP

Korea Investment CORP lowered its holdings in Qorvo Inc (NASDAQ:QRVO) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,653 shares of the semiconductor company’s stock after selling 1,800 shares during the period. Korea Investment CORP’s holdings in Qorvo were worth $3,683,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of QRVO. Oregon Public Employees Retirement Fund lifted its position in shares of Qorvo by 8,987.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,660,561 shares of the semiconductor company’s stock valued at $60,000 after buying an additional 3,620,278 shares during the last quarter. Iridian Asset Management LLC CT lifted its position in shares of Qorvo by 32.7% during the 3rd quarter. Iridian Asset Management LLC CT now owns 3,408,079 shares of the semiconductor company’s stock valued at $262,047,000 after buying an additional 838,994 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Qorvo by 366.5% during the 3rd quarter. Prudential Financial Inc. now owns 646,625 shares of the semiconductor company’s stock valued at $49,719,000 after buying an additional 508,000 shares during the last quarter. Rehmann Capital Advisory Group lifted its position in shares of Qorvo by 1,736,909.1% during the 3rd quarter. Rehmann Capital Advisory Group now owns 191,071 shares of the semiconductor company’s stock valued at $2,485,000 after buying an additional 191,060 shares during the last quarter. Finally, Marshall Wace North America L.P. lifted its position in shares of Qorvo by 574.2% during the 3rd quarter. Marshall Wace North America L.P. now owns 209,034 shares of the semiconductor company’s stock valued at $16,073,000 after buying an additional 178,030 shares during the last quarter. 94.09% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of Qorvo in a research report on Monday, March 4th. BidaskClub raised Qorvo from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Zacks Investment Research raised Qorvo from a “sell” rating to a “hold” rating in a research report on Wednesday. ValuEngine upgraded Qorvo from a “sell” rating to a “hold” rating in a research note on Monday, February 25th. Finally, Cowen reiterated a “market perform” rating and set a $71.00 price objective (down from $75.00) on shares of Qorvo in a research note on Thursday, November 29th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and ten have given a buy rating to the stock. Qorvo has an average rating of “Hold” and a consensus price target of $76.05.



NASDAQ:QRVO opened at $68.65 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.78 and a current ratio of 3.90. Qorvo Inc has a 52-week low of $54.74 and a 52-week high of $86.50. The firm has a market cap of $8.50 billion, a P/E ratio of 14.36, a P/E/G ratio of 1.27 and a beta of 0.90.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Thursday, February 7th. The semiconductor company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.30. The business had revenue of $832.20 million for the quarter, compared to analyst estimates of $819.21 million. Qorvo had a return on equity of 14.11% and a net margin of 1.92%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.69 EPS. Research analysts forecast that Qorvo Inc will post 5.03 earnings per share for the current year.

In other Qorvo news, VP Steven E. Creviston sold 3,000 shares of the company’s stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $65.00, for a total value of $195,000.00. Following the transaction, the vice president now directly owns 58,006 shares in the company, valued at approximately $3,770,390. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Steven E. Creviston sold 6,000 shares of the company’s stock in a transaction dated Friday, January 25th. The stock was sold at an average price of $65.00, for a total value of $390,000.00. Following the completion of the transaction, the vice president now owns 61,006 shares in the company, valued at $3,965,390. The disclosure for this sale can be found here. Insiders sold a total of 222,365 shares of company stock worth $15,309,904 over the last 90 days. Corporate insiders own 0.85% of the company’s stock.

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About Qorvo

Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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