Sovereign s Capital Management LLC acquired a new position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 20,659 shares of the semiconductor company's stock, valued at approximately $1,445,000.
Other large investors also recently bought and sold shares of the company. Rakuten Securities Inc. purchased a new position in shares of Qorvo in the fourth quarter valued at approximately $28,000. Huntington National Bank boosted its stake in Qorvo by 47.1% during the 4th quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 145 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Qorvo during the fourth quarter worth $37,000. Venturi Wealth Management LLC lifted its stake in shares of Qorvo by 67.4% in the fourth quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company's stock worth $43,000 after buying an additional 250 shares in the last quarter. Finally, CENTRAL TRUST Co grew its stake in Qorvo by 2,621.4% during the 4th quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company's stock valued at $53,000 after acquiring an additional 734 shares in the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on QRVO shares. Citigroup decreased their target price on shares of Qorvo from $72.00 to $69.00 and set a "sell" rating on the stock in a research note on Wednesday, January 29th. Wall Street Zen upgraded Qorvo from a "hold" rating to a "buy" rating in a research report on Wednesday, January 29th. TD Cowen lowered their price objective on Qorvo from $90.00 to $80.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Needham & Company LLC cut their target price on Qorvo from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, Stifel Nicolaus set a $75.00 price target on Qorvo in a report on Monday, April 28th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $91.21.
Read Our Latest Report on Qorvo
Insiders Place Their Bets
In other news, Director John R. Harding sold 1,450 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total value of $101,630.50. Following the completion of the transaction, the director now owns 7,597 shares of the company's stock, valued at approximately $532,473.73. This trade represents a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.46% of the company's stock.
Qorvo Trading Down 2.0%
NASDAQ QRVO traded down $1.50 on Friday, reaching $74.60. The stock had a trading volume of 2,089,986 shares, compared to its average volume of 2,193,031. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. The stock has a fifty day moving average price of $67.61 and a two-hundred day moving average price of $71.47. Qorvo, Inc. has a 12-month low of $49.46 and a 12-month high of $130.99. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of 266.43, a P/E/G ratio of 15.57 and a beta of 1.38.
Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.42. Qorvo had a return on equity of 12.41% and a net margin of 0.71%. The firm had revenue of $869.47 million for the quarter, compared to the consensus estimate of $850.13 million. During the same quarter in the previous year, the business earned $1.39 EPS. The company's quarterly revenue was down 7.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Qorvo, Inc. will post 4.09 EPS for the current fiscal year.
About Qorvo
(
Free Report)
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.
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