Nisa Investment Advisors LLC Buys 482 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Nisa Investment Advisors LLC boosted its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 205.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 717 shares of the semiconductor company’s stock after buying an additional 482 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Qorvo were worth $52,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. City Holding Co. purchased a new stake in shares of Qorvo in the first quarter worth approximately $25,000. Huntington National Bank grew its position in Qorvo by 47.1% in the 4th quarter. Huntington National Bank now owns 453 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 145 shares during the last quarter. Curat Global LLC purchased a new stake in Qorvo in the first quarter worth $34,000. Steph & Co. purchased a new stake in Qorvo in the first quarter worth $111,000. Finally, Golden State Wealth Management LLC lifted its position in shares of Qorvo by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,988 shares of the semiconductor company’s stock worth $144,000 after purchasing an additional 994 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Insider Buying and Selling at Qorvo

In related news, Director John R. Harding sold 1,450 shares of the business’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $70.09, for a total transaction of $101,630.50. Following the transaction, the director directly owned 7,597 shares in the company, valued at $532,473.73. The trade was a 16.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on QRVO shares. The Goldman Sachs Group started coverage on shares of Qorvo in a report on Thursday, July 10th. They issued a “neutral” rating and a $90.00 price target on the stock. Wall Street Zen downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Saturday, June 7th. Barclays raised their target price on shares of Qorvo from $60.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 30th. Citigroup reissued a “sell” rating on shares of Qorvo in a research note on Tuesday, June 10th. Finally, Mizuho set a $84.00 price objective on Qorvo and gave the stock a “neutral” rating in a report on Tuesday, July 1st. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $91.53.

Qorvo Stock Performance

QRVO stock opened at $88.57 on Friday. Qorvo, Inc. has a one year low of $49.46 and a one year high of $125.88. The firm has a market cap of $8.22 billion, a price-to-earnings ratio of 152.71, a PEG ratio of 2.36 and a beta of 1.39. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.95 and a current ratio of 2.77. The firm has a 50-day simple moving average of $81.65 and a two-hundred day simple moving average of $75.18.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.00 by $0.42. The firm had revenue of $869.47 million during the quarter, compared to analyst estimates of $850.13 million. Qorvo had a net margin of 1.50% and a return on equity of 12.48%. Qorvo’s revenue was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.39 EPS. On average, equities analysts forecast that Qorvo, Inc. will post 4.09 EPS 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.