Nisa Investment Advisors LLC Purchases 3,720 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Nisa Investment Advisors LLC boosted its position in shares of Qorvo, Inc. (NASDAQ:QRVOGet Rating) by 76.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 8,570 shares of the semiconductor company’s stock after acquiring an additional 3,720 shares during the period. Nisa Investment Advisors LLC’s holdings in Qorvo were worth $1,064,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QRVO. Standard Family Office LLC bought a new stake in shares of Qorvo in the 4th quarter valued at approximately $25,000. Johnson Financial Group Inc. bought a new stake in shares of Qorvo in the 4th quarter valued at approximately $26,000. Clearstead Advisors LLC lifted its stake in shares of Qorvo by 66.7% in the 4th quarter. Clearstead Advisors LLC now owns 250 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Qorvo in the 4th quarter valued at approximately $42,000. Finally, AdvisorNet Financial Inc lifted its stake in shares of Qorvo by 211.3% in the 1st quarter. AdvisorNet Financial Inc now owns 302 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 205 shares during the last quarter. 85.87% of the stock is owned by institutional investors.

Insider Transactions at Qorvo

In other news, Director Jeffery R. Gardner sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $108.68, for a total value of $543,400.00. Following the completion of the sale, the director now owns 32,793 shares of the company’s stock, valued at approximately $3,563,943.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Jeffery R. Gardner sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $108.68, for a total value of $543,400.00. Following the completion of the sale, the director now owns 32,793 shares of the company’s stock, valued at approximately $3,563,943.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roderick Nelson sold 4,761 shares of the firm’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $104.45, for a total value of $497,286.45. Following the completion of the sale, the director now directly owns 5,595 shares of the company’s stock, valued at approximately $584,397.75. The disclosure for this sale can be found here. Insiders sold 20,070 shares of company stock valued at $2,055,769 in the last quarter. 0.45% of the stock is currently owned by corporate insiders.

Qorvo Stock Down 2.5 %

Shares of NASDAQ QRVO opened at $104.34 on Friday. The company has a current ratio of 3.63, a quick ratio of 2.51 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $10.82 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. The stock’s fifty day simple moving average is $101.75 and its two-hundred day simple moving average is $118.59. Qorvo, Inc. has a 12-month low of $90.16 and a 12-month high of $201.46.

Qorvo (NASDAQ:QRVOGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The semiconductor company reported $3.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.32. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Qorvo had a return on equity of 28.07% and a net margin of 22.24%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.59 EPS. As a group, analysts expect that Qorvo, Inc. will post 9.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on QRVO. Piper Sandler lowered their price objective on Qorvo from $190.00 to $135.00 in a research note on Thursday, May 5th. Cowen set a $108.00 price target on Qorvo in a report on Tuesday, July 19th. TheStreet downgraded Qorvo from a “b-” rating to a “c+” rating in a report on Tuesday, May 24th. Susquehanna Bancshares reduced their price target on Qorvo from $150.00 to $120.00 in a report on Thursday, May 5th. Finally, Bank of America downgraded Qorvo from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $125.00 to $95.00 in a report on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Qorvo presently has a consensus rating of “Hold” and a consensus price target of $142.62.

About Qorvo

(Get Rating)

Qorvo, Inc develops and commercializes technologies and products for wireless, wired, and power markets worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. It offers mobile devices, such as smartphones, wearables, laptops, tablets and other devices; radio frequency power management integrated circuits, ultra-wideband (UWB) system-on-a-chip (SoC) and system-in-package (SiP) solutions, MEMS-based sensors, antenna tuners, and antennaplexers, as well as discrete multiplexers, duplexers, filters, and switches; and cellular base stations include switch-low noise amplifier (LNA) modules, variable gain amplifiers, integrated power amplifier (PA) Doherty modules, discrete LNAs, and high power GaN amplifiers.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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