921 Shares in Qorvo, Inc. (NASDAQ:QRVO) Purchased by GAMMA Investing LLC

GAMMA Investing LLC acquired a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 921 shares of the semiconductor company’s stock, valued at approximately $104,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. abrdn plc boosted its stake in Qorvo by 49.9% in the 4th quarter. abrdn plc now owns 55,064 shares of the semiconductor company’s stock worth $6,201,000 after buying an additional 18,326 shares during the last quarter. Resonant Capital Advisors LLC acquired a new stake in Qorvo in the 4th quarter worth about $251,000. Zhang Financial LLC boosted its stake in Qorvo by 2.7% in the 4th quarter. Zhang Financial LLC now owns 3,852 shares of the semiconductor company’s stock worth $434,000 after buying an additional 102 shares during the last quarter. Federated Hermes Inc. boosted its stake in Qorvo by 9.8% in the 4th quarter. Federated Hermes Inc. now owns 237,251 shares of the semiconductor company’s stock worth $26,717,000 after buying an additional 21,093 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in Qorvo by 10.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 9,175 shares of the semiconductor company’s stock worth $1,033,000 after buying an additional 896 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Stock Up 1.8 %

Shares of NASDAQ QRVO opened at $116.75 on Monday. Qorvo, Inc. has a twelve month low of $80.62 and a twelve month high of $121.65. The company has a current ratio of 1.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.43. The business has a 50 day simple moving average of $113.61 and a 200-day simple moving average of $105.23.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.47. Qorvo had a positive return on equity of 10.41% and a negative net margin of 6.11%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1 billion. Analysts expect that Qorvo, Inc. will post 4.95 EPS for the current year.

Insider Activity

In related news, VP Gina Harrison sold 354 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $40,356.00. Following the completion of the transaction, the vice president now owns 18,442 shares in the company, valued at approximately $2,102,388. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Gina Harrison sold 354 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $40,356.00. Following the completion of the transaction, the vice president now owns 18,442 shares in the company, valued at approximately $2,102,388. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Paul J. Fego sold 3,027 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $345,078.00. Following the transaction, the senior vice president now owns 29,705 shares of the company’s stock, valued at approximately $3,386,370. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,381 shares of company stock worth $745,434. 0.43% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on QRVO. Susquehanna reissued a “neutral” rating and issued a $100.00 price target on shares of Qorvo in a research note on Monday, April 8th. JPMorgan Chase & Co. lifted their price objective on Qorvo from $95.00 to $105.00 and gave the company an “underweight” rating in a research note on Thursday, February 1st. StockNews.com lowered Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Barclays lifted their price objective on Qorvo from $95.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 16th. Finally, Craig Hallum lifted their price objective on Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $111.53.

Qorvo 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.