Diversified Trust Co Raises Stake in Qorvo, Inc. (NASDAQ:QRVO)

Diversified Trust Co lifted its position in Qorvo, Inc. (NASDAQ:QRVO) by 793.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,347 shares of the semiconductor company’s stock after purchasing an additional 17,181 shares during the period. Diversified Trust Co’s holdings in Qorvo were worth $2,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also bought and sold shares of QRVO. Riverview Trust Co purchased a new position in shares of Qorvo during the first quarter valued at about $40,000. GAMMA Investing LLC bought a new stake in Qorvo in the 4th quarter worth approximately $104,000. Quadrant Capital Group LLC increased its stake in Qorvo by 18.7% in the 4th quarter. Quadrant Capital Group LLC now owns 951 shares of the semiconductor company’s stock worth $107,000 after acquiring an additional 150 shares during the last quarter. Wahed Invest LLC raised its holdings in shares of Qorvo by 7.5% during the 3rd quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company’s stock worth $147,000 after acquiring an additional 108 shares in the last quarter. Finally, Mather Group LLC. bought a new position in shares of Qorvo during the 1st quarter valued at approximately $193,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Trading Up 1.5 %

Shares of NASDAQ QRVO opened at $117.81 on Tuesday. The stock has a 50 day moving average price of $104.88 and a 200 day moving average price of $108.70. Qorvo, Inc. has a 52-week low of $80.62 and a 52-week high of $121.65. The company has a current ratio of 1.99, a quick ratio of 1.41 and a debt-to-equity ratio of 0.44.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.21 by $0.18. The company had revenue of $941.00 million for the quarter, compared to the consensus estimate of $927.24 million. Qorvo had a positive return on equity of 13.43% and a negative net margin of 1.86%. Qorvo’s quarterly revenue was up 48.7% on a year-over-year basis. During the same period last year, the business posted $0.11 EPS. As a group, equities analysts forecast that Qorvo, Inc. will post 5.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of Qorvo from $117.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. JPMorgan Chase & Co. decreased their target price on shares of Qorvo from $105.00 to $100.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. StockNews.com lowered Qorvo from a “buy” rating to a “hold” rating in a research report on Tuesday, June 25th. Rosenblatt Securities restated a “neutral” rating and set a $105.00 price objective on shares of Qorvo in a research report on Wednesday, June 12th. Finally, Barclays dropped their target price on Qorvo from $110.00 to $100.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Qorvo has an average rating of “Hold” and a consensus price target of $110.83.

Insiders Place Their Bets

In other Qorvo news, SVP Paul J. Fego sold 2,132 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total transaction of $211,728.92. Following the transaction, the senior vice president now directly owns 25,201 shares in the company, valued at approximately $2,502,711.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Qorvo news, Director John R. Harding sold 941 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $97.36, for a total transaction of $91,615.76. Following the sale, the director now owns 6,950 shares of the company’s stock, valued at approximately $676,652. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Paul J. Fego sold 2,132 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $99.31, for a total value of $211,728.92. Following the sale, the senior vice president now directly owns 25,201 shares in the company, valued at approximately $2,502,711.31. The disclosure for this sale can be found here. Insiders have sold 45,372 shares of company stock worth $4,517,858 in the last ninety days. 0.43% of the stock is owned by company insiders.

About Qorvo

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.