Highland Capital Management LLC Boosts Stake in Qorvo, Inc. (NASDAQ:QRVO)

Highland Capital Management LLC boosted its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 48.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 42,790 shares of the semiconductor company's stock after acquiring an additional 14,060 shares during the period. Highland Capital Management LLC's holdings in Qorvo were worth $4,819,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in QRVO. Wahed Invest LLC grew its holdings in shares of Qorvo by 7.5% during the third quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company's stock worth $147,000 after buying an additional 108 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of Qorvo by 1.5% during the third quarter. Teacher Retirement System of Texas now owns 7,669 shares of the semiconductor company's stock worth $732,000 after purchasing an additional 116 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in Qorvo by 106.4% in the first quarter. Parkside Financial Bank & Trust now owns 225 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 116 shares in the last quarter. Cetera Advisor Networks LLC raised its holdings in Qorvo by 2.1% in the fourth quarter. Cetera Advisor Networks LLC now owns 6,088 shares of the semiconductor company's stock valued at $552,000 after acquiring an additional 123 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in Qorvo by 0.5% in the second quarter. LPL Financial LLC now owns 27,262 shares of the semiconductor company's stock valued at $2,571,000 after acquiring an additional 127 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Qorvo

In other Qorvo news, VP Gina Harrison sold 354 shares of the company's stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $40,356.00. Following the transaction, the vice president now directly owns 18,442 shares of the company's stock, valued at approximately $2,102,388. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Qorvo news, SVP Steven E. Creviston sold 3,000 shares of the company's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $120.00, for a total value of $360,000.00. Following the transaction, the senior vice president now directly owns 77,552 shares of the company's stock, valued at approximately $9,306,240. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Gina Harrison sold 354 shares of the company's stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $40,356.00. Following the completion of the transaction, the vice president now directly owns 18,442 shares in the company, valued at $2,102,388. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,381 shares of company stock valued at $745,434. 0.43% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

QRVO has been the topic of a number of research analyst reports. Barclays raised their price objective on shares of Qorvo from $95.00 to $100.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 16th. Craig Hallum raised their price objective on shares of Qorvo from $110.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, February 1st. JPMorgan Chase & Co. raised their price objective on shares of Qorvo from $95.00 to $105.00 and gave the stock an "underweight" rating in a report on Thursday, February 1st. Needham & Company LLC reissued a "buy" rating and set a $125.00 price objective on shares of Qorvo in a report on Thursday, February 1st. Finally, Raymond James raised their target price on shares of Qorvo from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $111.17.

Qorvo Price Performance

QRVO stock traded up $0.23 during trading on Thursday, hitting $114.83. The stock had a trading volume of 1,142,336 shares, compared to its average volume of 1,323,835. The company's 50 day moving average price is $111.73 and its two-hundred day moving average price is $102.55. Qorvo, Inc. has a 1-year low of $80.62 and a 1-year high of $121.65. The stock has a market cap of $11.09 billion, a price-to-earnings ratio of -53.41, a price-to-earnings-growth ratio of 1.17 and a beta of 1.56. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.33 and a current ratio of 1.90.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.47. Qorvo had a negative net margin of 6.11% and a positive return on equity of 10.41%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1 billion. On average, sell-side analysts forecast that Qorvo, Inc. will post 4.95 EPS 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.