GAMMA Investing LLC Acquires Shares of 921 Qorvo, Inc. (NASDAQ:QRVO)

GAMMA Investing LLC acquired a new stake in Qorvo, Inc. (NASDAQ:QRVO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 921 shares of the semiconductor company’s stock, valued at approximately $104,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Huntington National Bank grew its position in shares of Qorvo by 8,090.0% in the third quarter. Huntington National Bank now owns 819 shares of the semiconductor company’s stock valued at $78,000 after purchasing an additional 809 shares during the last quarter. BluePath Capital Management LLC acquired a new position in shares of Qorvo in the third quarter valued at approximately $133,000. Allworth Financial LP grew its position in shares of Qorvo by 16.7% in the third quarter. Allworth Financial LP now owns 1,416 shares of the semiconductor company’s stock valued at $135,000 after purchasing an additional 203 shares during the last quarter. Wahed Invest LLC grew its position in shares of Qorvo by 7.5% in the third quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company’s stock valued at $147,000 after purchasing an additional 108 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new position in shares of Qorvo in the third quarter valued at approximately $203,000. Institutional investors own 88.57% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on QRVO. Susquehanna reissued a “neutral” rating and set a $100.00 price target on shares of Qorvo in a research report on Monday, April 8th. Needham & Company LLC reissued a “buy” rating and set a $125.00 price target on shares of Qorvo in a research report on Thursday, February 1st. Barclays upped their target price on Qorvo from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. StockNews.com cut Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Finally, JPMorgan Chase & Co. upped their target price on Qorvo from $95.00 to $105.00 and gave the stock an “underweight” 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 issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $111.53.

Qorvo Stock Up 1.8 %

Shares of Qorvo stock opened at $116.75 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average price of $113.61 and a two-hundred day moving average price of $105.23. Qorvo, Inc. has a 1-year low of $80.62 and a 1-year high of $121.65.

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

Insider Activity

In other news, SVP Paul J. Fego sold 3,027 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $345,078.00. Following the completion of the sale, 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 document filed with the SEC, which is accessible through this link. In other Qorvo news, VP Gina Harrison sold 354 shares of Qorvo stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $40,356.00. Following the completion of the transaction, the vice president now owns 18,442 shares in the company, valued at approximately $2,102,388. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Paul J. Fego sold 3,027 shares of Qorvo stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $345,078.00. Following the transaction, the senior vice president now owns 29,705 shares of the company’s stock, valued at approximately $3,386,370. The disclosure for this sale can be found here. Insiders 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 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.