Bleakley Financial Group LLC Purchases 256 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Bleakley Financial Group LLC lifted its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 12.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,357 shares of the semiconductor company’s stock after acquiring an additional 256 shares during the quarter. Bleakley Financial Group LLC’s holdings in Qorvo were worth $243,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QRVO. Thurston Springer Miller Herd & Titak Inc. bought a new position in Qorvo during the second quarter worth about $29,000. Park Place Capital Corp boosted its holdings in Qorvo by 398.1% in the 1st quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock worth $30,000 after buying an additional 207 shares during the period. EverSource Wealth Advisors LLC grew its stake in Qorvo by 81.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 115 shares in the last quarter. Versant Capital Management Inc raised its holdings in Qorvo by 9,333.3% during the 2nd quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 280 shares during the period. Finally, New Millennium Group LLC purchased a new stake in shares of Qorvo during the second quarter worth $34,000. 88.57% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Qorvo

In other news, VP Gina Harrison sold 689 shares of Qorvo stock in a transaction dated 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 owns 21,601 shares in the company, valued at approximately $2,325,779.67. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.46% of the company’s stock.

Qorvo Stock Performance

Shares of NASDAQ QRVO opened at $100.24 on Thursday. The stock’s 50-day moving average is $105.82 and its 200 day moving average is $108.43. The stock has a market cap of $9.51 billion, a price-to-earnings ratio of -345.66, a P/E/G ratio of 1.26 and a beta of 1.45. Qorvo, Inc. has a 1-year low of $80.62 and a 1-year high of $130.99. 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 (NASDAQ:QRVO) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. Qorvo had a negative net margin of 0.66% and a positive return on equity of 14.92%. The firm had revenue of $886.70 million during the quarter, compared to analyst estimates of $851.95 million. During the same period in the previous year, the business posted $0.03 EPS. The business’s quarterly revenue was up 36.2% on a year-over-year basis. On average, sell-side analysts anticipate that Qorvo, Inc. will post 4.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. StockNews.com lowered Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Raymond James increased their price target on shares of Qorvo from $115.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Piper Sandler reaffirmed a “neutral” rating and set a $120.00 price objective (up previously from $105.00) on shares of Qorvo in a research note on Wednesday, July 31st. TD Cowen upgraded shares of Qorvo to a “hold” rating in a research note on Monday, September 16th. Finally, Rosenblatt Securities raised their price target on shares of Qorvo from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $121.29.

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.