Securian Asset Management Inc Decreases Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

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

A number of other institutional investors have also added to or reduced their stakes in QRVO. KB Financial Partners LLC purchased a new stake in Qorvo during the first quarter valued at $26,000. Glassman Wealth Services raised its stake in shares of Qorvo by 465.4% in the second quarter. Glassman Wealth Services now owns 147 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 121 shares during the period. Sandy Spring Bank raised its stake in shares of Qorvo by 352.9% in the second quarter. Sandy Spring Bank now owns 154 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 120 shares during the period. CX Institutional raised its stake in shares of Qorvo by 44.2% in the second quarter. CX Institutional now owns 173 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 53 shares during the period. Finally, Concord Wealth Partners purchased a new stake in shares of Qorvo in the first quarter valued at $37,000. 83.76% of the stock is currently owned by institutional investors.

In other Qorvo news, VP James L. Klein sold 1,909 shares of the business’s stock in a transaction dated Monday, August 16th. The shares were sold at an average price of $186.72, for a total transaction of $356,448.48. Following the sale, the vice president now directly owns 42,256 shares in the company, valued at $7,890,040.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gina Harrison sold 1,187 shares of the business’s stock in a transaction dated Tuesday, September 7th. The stock was sold at an average price of $185.16, for a total transaction of $219,784.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,551 shares of company stock worth $1,757,560. 0.52% of the stock is owned by insiders.

NASDAQ QRVO opened at $182.13 on Wednesday. Qorvo, Inc. has a 52 week low of $123.08 and a 52 week high of $201.68. The company has a quick ratio of 2.56, a current ratio of 3.37 and a debt-to-equity ratio of 0.37. The business’s fifty day simple moving average is $188.23 and its 200-day simple moving average is $184.69. The firm has a market cap of $20.24 billion, a PE ratio of 22.68, a P/E/G ratio of 1.26 and a beta of 1.36.

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

Several brokerages have recently weighed in on QRVO. Oppenheimer increased their target price on shares of Qorvo from $220.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, August 5th. Morgan Stanley upped their price target on shares of Qorvo from $223.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, August 5th. Rosenblatt Securities upped their price target on shares of Qorvo from $200.00 to $215.00 and gave the stock a “neutral” rating in a report on Thursday, August 5th. BMO Capital Markets upped their price target 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. Finally, Craig Hallum upped their price target 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 equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $209.05.

Qorvo Company 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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