Mercer Global Advisors Inc. ADV Has $354,000 Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

Mercer Global Advisors Inc. ADV reduced its position in Qorvo, Inc. (NASDAQ:QRVO) by 63.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,055 shares of the semiconductor company’s stock after selling 8,803 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Qorvo were worth $354,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Freestone Grove Partners LP acquired a new stake in shares of Qorvo in the 4th quarter valued at $6,545,000. Comerica Bank boosted its position in shares of Qorvo by 37.7% in the 4th quarter. Comerica Bank now owns 34,412 shares of the semiconductor company’s stock worth $2,406,000 after purchasing an additional 9,427 shares during the last quarter. Vulcan Value Partners LLC boosted its position in shares of Qorvo by 53.7% in the 4th quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company’s stock worth $180,487,000 after purchasing an additional 902,353 shares during the last quarter. Coldstream Capital Management Inc. bought a new position in shares of Qorvo in the 4th quarter worth $328,000. Finally, Symmetry Investments LP bought a new position in shares of Qorvo in the 4th quarter worth $548,000. 88.57% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Qorvo

In related news, Director John R. Harding sold 1,450 shares of the company’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $70.09, for a total transaction of $101,630.50. Following the sale, the director now owns 7,597 shares in the company, valued at approximately $532,473.73. This represents a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.46% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on QRVO. Benchmark upgraded Qorvo from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research report on Wednesday, April 30th. Stifel Nicolaus set a $75.00 price target on Qorvo in a research report on Monday, April 28th. Mizuho raised their price target on Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Loop Capital reduced their price target on Qorvo from $90.00 to $75.00 and set a “hold” rating on the stock in a research report on Wednesday, April 30th. Finally, Citigroup reduced their price target on Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $91.21.

Qorvo Stock Up 1.1%

QRVO stock opened at $79.44 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. The stock has a market capitalization of $7.42 billion, a P/E ratio of 283.71, a P/E/G ratio of 15.57 and a beta of 1.38. The business has a 50-day moving average of $66.80 and a 200-day moving average of $71.61. Qorvo, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $130.99.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.42. The company had revenue of $869.47 million during the quarter, compared to analysts’ expectations of $850.13 million. Qorvo had a return on equity of 12.41% and a net margin of 0.71%. Qorvo’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.39 earnings per share. On average, sell-side analysts anticipate that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal 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.