Global X Japan Co. Ltd. Has $938,000 Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Global X Japan Co. Ltd. lowered its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 17.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 9,085 shares of the semiconductor company’s stock after selling 1,950 shares during the period. Global X Japan Co. Ltd.’s holdings in Qorvo were worth $938,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Qorvo during the second quarter valued at approximately $29,000. Park Place Capital Corp lifted its stake in Qorvo by 398.1% during the 1st quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 207 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Qorvo by 81.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 115 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Qorvo by 9,333.3% in the 2nd quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 280 shares in the last quarter. Finally, New Millennium Group LLC purchased a new stake in shares of Qorvo in the second quarter valued at about $34,000. 88.57% of the stock is owned by institutional investors.

Insider Transactions at Qorvo

In related news, VP Gina Harrison sold 689 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $107.67, for a total transaction of $74,184.63. Following the sale, the vice president now directly owns 21,601 shares in the company, valued at approximately $2,325,779.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. StockNews.com cut shares of Qorvo from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Morgan Stanley downgraded Qorvo from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $130.00 to $120.00 in a research note on Friday, October 11th. Piper Sandler reaffirmed a “neutral” rating and set a $120.00 price target (up from $105.00) on shares of Qorvo in a research report on Wednesday, July 31st. Craig Hallum lifted their price target on Qorvo from $124.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Needham & Company LLC upped their price objective on Qorvo from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $121.29.

Qorvo Price Performance

Shares of NASDAQ:QRVO opened at $100.80 on Wednesday. The firm has a market capitalization of $9.56 billion, a PE ratio of -347.59, a P/E/G ratio of 1.26 and a beta of 1.45. The company has a quick ratio of 1.36, a current ratio of 1.95 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average price of $105.98 and a two-hundred day moving average price of $108.49. Qorvo, Inc. has a twelve month low of $80.62 and a twelve month high of $130.99.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 EPS for the quarter, beating 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 company had revenue of $886.70 million for the quarter, compared to analysts’ expectations of $851.95 million. During the same period in the prior year, the company posted $0.03 EPS. Qorvo’s revenue was up 36.2% compared to the same quarter last year. Equities analysts forecast that Qorvo, Inc. will post 4.84 EPS for the current year.

Qorvo Company Profile

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.