Oak Thistle LLC Cuts Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

Oak Thistle LLC cut its holdings in Qorvo, Inc. (NASDAQ:QRVOFree Report) by 68.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,895 shares of the semiconductor company’s stock after selling 8,261 shares during the quarter. Oak Thistle LLC’s holdings in Qorvo were worth $439,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Qorvo by 0.5% in the first quarter. Vanguard Group Inc. now owns 12,196,858 shares of the semiconductor company’s stock valued at $1,513,630,000 after buying an additional 58,395 shares in the last quarter. Baupost Group LLC MA increased its position in shares of Qorvo by 11.8% in the first quarter. Baupost Group LLC MA now owns 6,645,712 shares of the semiconductor company’s stock valued at $824,733,000 after buying an additional 699,968 shares in the last quarter. State Street Corp increased its position in shares of Qorvo by 0.3% in the first quarter. State Street Corp now owns 4,801,902 shares of the semiconductor company’s stock valued at $595,916,000 after buying an additional 16,097 shares in the last quarter. Barclays PLC boosted its stake in shares of Qorvo by 646.2% in the third quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company’s stock worth $369,091,000 after acquiring an additional 3,347,972 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Qorvo by 0.3% in the first quarter. Geode Capital Management LLC now owns 2,151,025 shares of the semiconductor company’s stock worth $217,996,000 after acquiring an additional 5,396 shares during the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Qorvo Trading Up 1.0 %

Shares of Qorvo stock opened at $114.90 on Thursday. Qorvo, Inc. has a 52 week low of $80.62 and a 52 week high of $121.65. The business’s fifty day simple moving average is $112.36 and its 200-day simple moving average is $103.12. The company has a quick ratio of 1.33, a current ratio of 1.90 and a debt-to-equity ratio of 0.43.

Qorvo (NASDAQ:QRVOGet Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.42 by $0.47. Qorvo had a positive return on equity of 10.41% and a negative net margin of 6.11%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1 billion. Research analysts predict that Qorvo, Inc. will post 4.95 earnings per share for the current year.

Analyst Ratings Changes

QRVO has been the topic of a number of research analyst reports. Morgan Stanley raised Qorvo from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $120.00 to $134.00 in a research note on Friday, December 8th. The Goldman Sachs Group lifted their price target on Qorvo from $104.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $125.00 price target on shares of Qorvo in a research note on Thursday, February 1st. Piper Sandler lowered their price target on Qorvo from $120.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, February 1st. Finally, StockNews.com lowered Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $111.17.

Check Out Our Latest Analysis on QRVO

Insider Activity

In other news, VP Gina Harrison sold 354 shares of the company’s stock in a transaction 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 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 related news, SVP Paul J. Fego sold 3,027 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $345,078.00. Following the sale, the senior vice president now owns 29,705 shares in the company, valued at approximately $3,386,370. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Gina Harrison sold 354 shares of the business’s stock in a transaction 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 sale, the vice president now owns 18,442 shares in the company, valued at approximately $2,102,388. The disclosure for this sale can be found here. Insiders have sold a total of 6,381 shares of company stock valued at $745,434 in the last quarter. Insiders own 0.43% of the company’s stock.

Qorvo Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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