Bleakley Financial Group LLC Invests $204,000 in Qorvo, Inc. (NASDAQ:QRVO)

Bleakley Financial Group LLC purchased a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,815 shares of the semiconductor company’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Nisa Investment Advisors LLC grew its stake in shares of Qorvo by 8.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,467 shares of the semiconductor company’s stock worth $278,000 after purchasing an additional 200 shares during the period. Narwhal Capital Management acquired a new position in shares of Qorvo during the 4th quarter worth $234,000. DekaBank Deutsche Girozentrale grew its stake in shares of Qorvo by 4.5% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 9,679 shares of the semiconductor company’s stock worth $1,092,000 after purchasing an additional 417 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Qorvo during the 4th quarter worth $1,319,000. Finally, State of Michigan Retirement System grew its stake in shares of Qorvo by 1.2% during the 4th quarter. State of Michigan Retirement System now owns 32,619 shares of the semiconductor company’s stock worth $3,673,000 after purchasing an additional 400 shares during the period. 88.57% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Qorvo

In other news, SVP Paul J. Fego sold 3,027 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $345,078.00. Following the transaction, the senior vice president now directly owns 29,705 shares in the company, valued at approximately $3,386,370. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Gina Harrison sold 354 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $40,356.00. Following the transaction, the vice president now directly owns 18,442 shares in the company, valued at approximately $2,102,388. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Paul J. Fego sold 3,027 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $345,078.00. Following the completion of the transaction, the senior vice president now owns 29,705 shares in the company, valued at approximately $3,386,370. The disclosure for this sale can be found here. Insiders have sold a total of 6,381 shares of company stock worth $745,434 in the last three months. Company insiders own 0.43% of the company’s stock.

Qorvo Price Performance

Qorvo stock opened at $111.15 on Wednesday. Qorvo, Inc. has a 12-month low of $80.62 and a 12-month high of $121.65. The stock has a market capitalization of $10.73 billion, a P/E ratio of -51.70, a P/E/G ratio of 0.86 and a beta of 1.56. The firm’s 50-day moving average is $114.00 and its two-hundred day moving average is $104.33. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.90 and a quick ratio of 1.33.

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

Analyst Ratings Changes

A number of brokerages recently commented on QRVO. Barclays increased their price objective on shares of Qorvo from $95.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 16th. JPMorgan Chase & Co. increased their price objective on shares of Qorvo from $95.00 to $105.00 and gave the company an “underweight” rating in a research note on Thursday, February 1st. Susquehanna reissued a “neutral” rating and issued a $100.00 price objective on shares of Qorvo in a research note on Monday, April 8th. Craig Hallum increased their price objective on shares of Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, Raymond James increased their price objective on shares of Qorvo from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Qorvo currently has an average rating of “Hold” and a consensus target price of $111.53.

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.