Scientech Research LLC Buys Shares of 15,548 Qorvo, Inc. (NASDAQ:QRVO)

Scientech Research LLC purchased a new position in Qorvo, Inc. (NASDAQ:QRVO) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 15,548 shares of the semiconductor company’s stock, valued at approximately $1,087,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Siemens Fonds Invest GmbH bought a new stake in Qorvo in the fourth quarter worth approximately $1,681,000. Sherbrooke Park Advisers LLC increased its position in shares of Qorvo by 94.1% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 15,273 shares of the semiconductor company’s stock worth $1,068,000 after purchasing an additional 7,405 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in Qorvo by 2.8% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 32,344 shares of the semiconductor company’s stock worth $2,310,000 after acquiring an additional 889 shares during the last quarter. Occudo Quantitative Strategies LP bought a new stake in Qorvo during the 4th quarter worth about $522,000. Finally, Investment Management Corp of Ontario grew its position in shares of Qorvo by 505.7% during the 4th quarter. Investment Management Corp of Ontario now owns 19,164 shares of the semiconductor company’s stock worth $1,340,000 after buying an additional 16,000 shares during the period. 88.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on QRVO. Needham & Company LLC cut their price target on shares of Qorvo from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Mizuho raised their price target on shares of Qorvo from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Piper Sandler upgraded shares of Qorvo from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $85.00 to $110.00 in a research report on Monday, January 27th. Stifel Nicolaus set a $75.00 target price on shares of Qorvo in a research report on Monday, April 28th. Finally, Loop Capital dropped their price target on shares of Qorvo from $90.00 to $75.00 and set a “hold” rating on the stock in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $91.21.

Insider Buying and Selling at Qorvo

In other Qorvo news, Director John R. Harding sold 1,450 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total transaction of $101,630.50. Following the sale, the director now directly owns 7,597 shares of the company’s stock, valued at $532,473.73. This represents a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.46% of the company’s stock.

Qorvo Price Performance

QRVO opened at $79.64 on Friday. The firm’s fifty day moving average price is $67.06 and its two-hundred day moving average price is $71.32. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. The company has a market capitalization of $7.44 billion, a price-to-earnings ratio of 284.43, a P/E/G ratio of 15.57 and a beta of 1.38. Qorvo, Inc. has a 1 year low of $49.46 and a 1 year high of $130.99.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.42. The company had revenue of $869.47 million for the quarter, compared to the consensus estimate of $850.13 million. Qorvo had a net margin of 0.71% and a return on equity of 12.41%. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.39 EPS. As a group, analysts anticipate that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

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.