Sherbrooke Park Advisers LLC Buys 7,405 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Sherbrooke Park Advisers LLC increased its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 94.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 15,273 shares of the semiconductor company's stock after acquiring an additional 7,405 shares during the period. Sherbrooke Park Advisers LLC's holdings in Qorvo were worth $1,068,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of QRVO. Rakuten Securities Inc. bought a new stake in shares of Qorvo during the 4th quarter worth approximately $28,000. Huntington National Bank lifted its stake in shares of 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 acquiring an additional 145 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Qorvo during the 4th quarter worth approximately $37,000. Venturi Wealth Management LLC increased its holdings in Qorvo by 67.4% during the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company's stock worth $43,000 after purchasing an additional 250 shares during the period. Finally, CENTRAL TRUST Co increased its holdings in Qorvo by 2,621.4% during the 4th quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company's stock worth $53,000 after purchasing an additional 734 shares during the period. 88.57% of the stock is owned by institutional investors.

Insider Activity at Qorvo

In other Qorvo news, Director John R. Harding sold 1,450 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $70.09, for a total value of $101,630.50. Following the sale, the director now directly owns 7,597 shares in the company, valued at $532,473.73. This trade represents a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is currently owned by company insiders.

Qorvo Trading Down 1.3%

Shares of Qorvo stock opened at $78.42 on Friday. The firm has a market capitalization of $7.32 billion, a price-to-earnings ratio of 280.07, a PEG ratio of 15.57 and a beta of 1.38. Qorvo, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $130.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. The stock has a 50 day moving average of $66.89 and a 200 day moving average of $71.46.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.00 by $0.42. The business had revenue of $869.47 million during the quarter, compared to analyst estimates of $850.13 million. Qorvo had a return on equity of 12.41% and a net margin of 0.71%. The company's quarterly revenue was down 7.6% on a year-over-year basis. During the same period last year, the business posted $1.39 earnings per share. As a group, research analysts predict that Qorvo, Inc. will post 4.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

QRVO has been the topic of several research reports. Needham & Company LLC reduced their price objective on Qorvo from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Mizuho lifted 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. StockNews.com raised Qorvo from a "hold" rating to a "buy" rating in a research report on Wednesday, January 29th. Citigroup lowered their target price on Qorvo from $72.00 to $69.00 and set a "sell" rating on the stock in a research note on Wednesday, January 29th. Finally, Barclays upped their target price on Qorvo from $60.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $91.21.

Qorvo 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.

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