Amalgamated Bank grew its position in shares of Qorvo Inc (NASDAQ:QRVO) by 9.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 16,345 shares of the semiconductor company’s stock after purchasing an additional 1,434 shares during the period. Amalgamated Bank’s holdings in Qorvo were worth $1,089,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of QRVO. Alyeska Investment Group L.P. purchased a new position in shares of Qorvo during the 3rd quarter worth approximately $118,506,000. Boston Partners grew its holdings in shares of Qorvo by 47.5% during the 4th quarter. Boston Partners now owns 2,869,210 shares of the semiconductor company’s stock worth $191,089,000 after acquiring an additional 924,017 shares during the period. Manning & Napier Advisors LLC grew its holdings in shares of Qorvo by 52.5% during the 3rd quarter. Manning & Napier Advisors LLC now owns 2,443,052 shares of the semiconductor company’s stock worth $172,674,000 after acquiring an additional 840,755 shares during the period. Cornerstone Capital Management Holdings LLC. grew its holdings in shares of Qorvo by 113.1% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 374,721 shares of the semiconductor company’s stock worth $26,484,000 after acquiring an additional 198,856 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in shares of Qorvo by 4.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,657,995 shares of the semiconductor company’s stock worth $329,228,000 after acquiring an additional 194,106 shares during the period. Hedge funds and other institutional investors own 97.58% of the company’s stock.
QRVO has been the topic of several recent research reports. JPMorgan Chase & Co. set a $88.00 price target on Qorvo and gave the stock a “buy” rating in a research note on Wednesday, November 15th. BidaskClub downgraded Qorvo from a “hold” rating to a “sell” rating in a research note on Wednesday, December 6th. ValuEngine downgraded Qorvo from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. Morgan Stanley upped their price target on Qorvo from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 13th. Finally, Zacks Investment Research upgraded Qorvo from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $81.47.
Qorvo (NASDAQ:QRVO) last issued its earnings results on Wednesday, January 31st. The semiconductor company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.60 by $0.09. Qorvo had a return on equity of 11.72% and a net margin of 0.95%. The business had revenue of $845.70 million for the quarter, compared to the consensus estimate of $841.09 million. During the same period last year, the business posted $1.35 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. equities research analysts anticipate that Qorvo Inc will post 4.49 earnings per share for the current year.
In other news, Director Daniel A. Dileo sold 2,500 shares of the stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $83.97, for a total transaction of $209,925.00. Following the transaction, the director now directly owns 27,282 shares of the company’s stock, valued at approximately $2,290,869.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Gina Harrison sold 1,000 shares of the stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $82.83, for a total value of $82,830.00. Following the transaction, the vice president now directly owns 14,954 shares in the company, valued at $1,238,639.82. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock worth $1,915,645 over the last three months. Insiders own 0.91% of the company’s stock.
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Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).
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