Boston Research & Management Inc. Buys 295 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Boston Research & Management Inc. raised its stake in Qorvo, Inc. (NASDAQ:QRVO) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,995 shares of the semiconductor company’s stock after buying an additional 295 shares during the period. Boston Research & Management Inc.’s holdings in Qorvo were worth $4,292,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Qorvo during the 2nd quarter valued at $29,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Qorvo by 81.0% during the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 115 shares during the period. Park Place Capital Corp grew its stake in shares of Qorvo by 398.1% in the first quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 207 shares during the last quarter. Versant Capital Management Inc increased its holdings in Qorvo by 9,333.3% in the second quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 280 shares during the period. Finally, New Millennium Group LLC bought a new position in Qorvo during the 2nd quarter worth $34,000. Institutional investors own 88.57% of the company’s stock.

Insider Transactions at Qorvo

In related news, VP Gina Harrison sold 689 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $107.67, for a total value of $74,184.63. Following the transaction, the vice president now directly owns 21,601 shares in the company, valued at approximately $2,325,779.67. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.46% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on QRVO. Rosenblatt Securities upped their price target on Qorvo from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Barclays upped their target price on Qorvo from $100.00 to $125.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Piper Sandler restated a “neutral” rating and set a $120.00 price target (up previously from $105.00) on shares of Qorvo in a report on Wednesday, July 31st. Raymond James upped their price objective on shares of Qorvo from $115.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group increased their price objective on shares of Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $121.00.

Qorvo Price Performance

Shares of NASDAQ QRVO opened at $102.26 on Friday. The firm has a market capitalization of $9.70 billion, a P/E ratio of -140.08, a P/E/G ratio of 1.23 and a beta of 1.46. The firm’s 50-day moving average price is $112.02 and its 200-day moving average price is $110.42. The company has a current ratio of 1.95, a quick ratio of 1.36 and a debt-to-equity ratio of 0.44. Qorvo, Inc. has a 1-year low of $80.62 and a 1-year high of $130.99.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.16. The business had revenue of $886.70 million during the quarter, compared to analyst estimates of $851.95 million. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. The firm’s revenue was up 36.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 EPS. Equities research analysts anticipate that Qorvo, Inc. will post 4.8 earnings per share for the current fiscal year.

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.