Aristides Capital LLC Makes New Investment in Qorvo, Inc. (NASDAQ:QRVO)

Aristides Capital LLC acquired a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 2,657 shares of the semiconductor company’s stock, valued at approximately $308,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of QRVO. Capital Research Global Investors boosted its holdings in shares of Qorvo by 2.1% in the 1st quarter. Capital Research Global Investors now owns 4,591,985 shares of the semiconductor company’s stock valued at $527,298,000 after buying an additional 93,068 shares in the last quarter. FIL Ltd lifted its position in Qorvo by 4.5% in the fourth quarter. FIL Ltd now owns 2,778,629 shares of the semiconductor company’s stock valued at $312,901,000 after acquiring an additional 120,213 shares during the last quarter. Vulcan Value Partners LLC boosted its stake in Qorvo by 35.0% in the second quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company’s stock valued at $246,665,000 after acquiring an additional 550,111 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Qorvo by 17,255.9% during the second quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company’s stock worth $165,590,000 after purchasing an additional 1,418,784 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Qorvo by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,323,463 shares of the semiconductor company’s stock worth $153,558,000 after purchasing an additional 4,386 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Stock Performance

QRVO opened at $103.30 on Tuesday. The stock’s 50 day simple moving average is $109.39 and its 200 day simple moving average is $109.78. The stock has a market cap of $9.82 billion, a P/E ratio of -141.51, a P/E/G ratio of 1.24 and a beta of 1.46. Qorvo, Inc. has a 1-year low of $80.62 and a 1-year high of $130.99. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.95 and a quick ratio of 1.36.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share 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 analysts’ expectations of $851.95 million. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. The business’s revenue for the quarter was up 36.2% on a year-over-year basis. During the same quarter last year, the business posted $0.03 earnings per share. As a group, equities analysts anticipate that Qorvo, Inc. will post 4.84 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Craig Hallum upped their target price on Qorvo from $124.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC raised their price objective on shares of Qorvo from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Barclays upped their price objective on Qorvo from $100.00 to $125.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. StockNews.com lowered Qorvo from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, TD Cowen upgraded Qorvo to a “hold” rating in a research note on Monday, September 16th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $121.00.

Insider Buying and Selling at Qorvo

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

Qorvo Company 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.