2,270 Shares in Qorvo, Inc. (NASDAQ:QRVO) Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP purchased a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,270 shares of the semiconductor company’s stock, valued at approximately $234,000.

A number of other large investors have also made changes to their positions in the stock. O Shaughnessy Asset Management LLC boosted its stake in Qorvo by 15.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,272 shares of the semiconductor company’s stock worth $376,000 after buying an additional 443 shares during the last quarter. Lazard Asset Management LLC increased its position in Qorvo by 23,191.0% during the first quarter. Lazard Asset Management LLC now owns 20,729 shares of the semiconductor company’s stock worth $2,380,000 after purchasing an additional 20,640 shares during the last quarter. Tidal Investments LLC raised its stake in Qorvo by 302.9% during the first quarter. Tidal Investments LLC now owns 14,369 shares of the semiconductor company’s stock worth $1,649,000 after purchasing an additional 10,803 shares during the period. Comerica Bank boosted its holdings in Qorvo by 13.3% in the 1st quarter. Comerica Bank now owns 17,363 shares of the semiconductor company’s stock valued at $1,994,000 after purchasing an additional 2,041 shares during the last quarter. Finally, LBP AM SA grew its stake in shares of Qorvo by 172.9% in the 1st quarter. LBP AM SA now owns 30,417 shares of the semiconductor company’s stock valued at $3,493,000 after buying an additional 19,271 shares during the period. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Qorvo Stock Performance

NASDAQ:QRVO opened at $69.25 on Monday. Qorvo, Inc. has a 12 month low of $64.98 and a 12 month high of $130.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38. The firm has a market capitalization of $6.55 billion, a PE ratio of -47.43, a price-to-earnings-growth ratio of 5.44 and a beta of 1.49. The business’s fifty day moving average price is $90.08 and its 200 day moving average price is $103.14.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.03. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The business’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the company earned $1.99 EPS. On average, sell-side analysts anticipate that Qorvo, Inc. will post 3.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

QRVO has been the topic of several analyst reports. UBS Group reduced their price target on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Benchmark lowered Qorvo from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Piper Sandler cut their price objective on Qorvo from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. BNP Paribas lowered shares of Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 target price for the company. in a research note on Wednesday, October 30th. Finally, Morgan Stanley cut shares of Qorvo from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $130.00 to $120.00 in a research report on Friday, October 11th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $102.88.

Insider Activity at Qorvo

In other news, VP Gina Harrison sold 689 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $107.67, for a total value of $74,184.63. Following the completion of the sale, the vice president now directly owns 21,601 shares of the company’s stock, valued at approximately $2,325,779.67. This represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is owned by corporate 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.