Dai ichi Life Insurance Company Ltd Sells 248 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Dai ichi Life Insurance Company Ltd decreased its stake in Qorvo, Inc. (NASDAQ:QRVO) by 3.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,544 shares of the semiconductor company’s stock after selling 248 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Qorvo were worth $779,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Qorvo during the second quarter worth $29,000. EverSource Wealth Advisors LLC lifted its stake in shares of Qorvo by 81.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 115 shares during the period. Versant Capital Management Inc boosted its position in shares of Qorvo by 9,333.3% during the 2nd quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 280 shares in the last quarter. Larson Financial Group LLC grew its stake in Qorvo by 163.4% during the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 201 shares during the period. Finally, New Millennium Group LLC bought a new stake in Qorvo in the second quarter worth approximately $34,000. 88.57% of the stock is currently owned by institutional investors.

Qorvo Trading Up 0.4 %

Shares of QRVO stock opened at $68.40 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90. The company has a market capitalization of $6.47 billion, a price-to-earnings ratio of -46.85, a PEG ratio of 5.59 and a beta of 1.49. Qorvo, Inc. has a 52-week low of $64.98 and a 52-week high of $130.99. The company has a 50-day simple moving average of $88.20 and a two-hundred day simple moving average of $102.50.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.03. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. Qorvo’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.99 earnings per share. Research analysts anticipate that Qorvo, Inc. will post 3.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Susquehanna cut their price target on Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Barclays reduced their price target on shares of Qorvo from $120.00 to $90.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th. Needham & Company LLC began coverage on shares of Qorvo in a report on Monday, October 28th. They set a “buy” rating and a $135.00 price objective on the stock. Loop Capital assumed coverage on shares of Qorvo in a research report on Monday, November 11th. They set a “hold” rating and a $73.00 price objective on the stock. Finally, TD Cowen dropped their price target on Qorvo from $125.00 to $85.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $102.88.

Insider Activity

In other Qorvo news, VP Gina Harrison sold 689 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $107.67, for a total value of $74,184.63. Following the transaction, the vice president now directly owns 21,601 shares in the company, valued at $2,325,779.67. The trade was a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.46% of the company’s stock.

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.