Clear Harbor Asset Management LLC Acquires 1,758 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Clear Harbor Asset Management LLC lifted its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 6.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,155 shares of the semiconductor company’s stock after buying an additional 1,758 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Qorvo were worth $3,218,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. bought a new position in Qorvo in the 2nd quarter valued at $29,000. Park Place Capital Corp boosted its holdings in Qorvo by 398.1% in the first quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 207 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Qorvo by 81.0% in the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 115 shares during the period. Versant Capital Management Inc raised its holdings in 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 purchasing an additional 280 shares during the last quarter. Finally, New Millennium Group LLC acquired a new position in Qorvo during the 2nd quarter valued at about $34,000. 88.57% of the stock is owned by institutional investors.

Insider Buying and Selling at Qorvo

In other news, VP Gina Harrison sold 689 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the completion of the transaction, the vice president now directly owns 21,601 shares in the company, valued at $2,325,779.67. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. StockNews.com lowered shares of Qorvo from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Susquehanna cut their price target on Qorvo from $135.00 to $115.00 and set a “neutral” rating on the stock in a research note on Monday, October 21st. Barclays decreased their price objective on Qorvo from $125.00 to $120.00 and set an “equal weight” rating for the company in a research note on Thursday, October 10th. Raymond James upped their price objective on Qorvo from $115.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Piper Sandler reduced their target price on Qorvo from $120.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $119.86.

Qorvo Price Performance

Shares of NASDAQ QRVO opened at $99.01 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.36 and a debt-to-equity ratio of 0.44. The firm has a market cap of $9.41 billion, a PE ratio of -135.63, a PEG ratio of 1.22 and a beta of 1.45. The company has a fifty day moving average price of $105.32 and a 200 day moving average price of $108.20. Qorvo, Inc. has a 1-year low of $80.62 and a 1-year high of $130.99.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.71 by $0.16. The firm had revenue of $886.70 million for the quarter, compared to analysts’ expectations of $851.95 million. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. The business’s quarterly revenue was up 36.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.03 EPS. Research analysts predict that Qorvo, Inc. will post 4.84 earnings per share for the current fiscal year.

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.