2,386 Shares in Qorvo, Inc. (NASDAQ:QRVO) Purchased by MQS Management LLC

MQS Management LLC acquired a new stake in Qorvo, Inc. (NASDAQ:QRVO) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,386 shares of the semiconductor company’s stock, valued at approximately $246,000.

Other hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Qorvo in the 2nd quarter valued at $29,000. EverSource Wealth Advisors LLC raised its position in shares of Qorvo by 81.0% in the first 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 lifted its stake 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 worth $33,000 after buying an additional 280 shares during the last quarter. New Millennium Group LLC bought a new stake in shares of Qorvo during the 2nd quarter worth about $34,000. Finally, Blue Trust Inc. grew its stake in Qorvo by 241.6% in the 2nd quarter. Blue Trust Inc. now owns 345 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 244 shares during the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Qorvo Trading Up 1.1 %

Shares of QRVO opened at $66.30 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. Qorvo, Inc. has a 52-week low of $65.35 and a 52-week high of $130.99. The business’s fifty day moving average is $94.75 and its 200-day moving average is $104.68.

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 analysts’ consensus estimates of $1.85 by $0.03. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.99 earnings per share. As a group, analysts forecast that Qorvo, Inc. will post 3.37 earnings per share for the current year.

Insider Buying and Selling

In other Qorvo news, VP Gina Harrison sold 689 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $107.67, for a total value of $74,184.63. Following the sale, the vice president now owns 21,601 shares in the company, valued at $2,325,779.67. This trade represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.46% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Barclays cut their price objective on shares of Qorvo from $120.00 to $90.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on Qorvo from $105.00 to $118.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Craig Hallum lowered their price objective on Qorvo from $142.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. StockNews.com cut shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, TD Cowen decreased their price target on shares of Qorvo from $125.00 to $85.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $102.88.

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.