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

Bleakley Financial Group LLC raised its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 12.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,357 shares of the semiconductor company’s stock after purchasing an additional 256 shares during the period. Bleakley Financial Group LLC’s holdings in Qorvo were worth $243,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of QRVO. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Qorvo during the second quarter valued at approximately $29,000. Park Place Capital Corp increased its position in shares of Qorvo by 398.1% during the first quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 207 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Qorvo by 81.0% in the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after buying an additional 115 shares during the period. Versant Capital Management Inc lifted its holdings in Qorvo by 9,333.3% in the second quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock worth $33,000 after buying an additional 280 shares during the period. Finally, New Millennium Group LLC bought a new stake in Qorvo during the 2nd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Insider Buying and Selling at Qorvo

In other news, VP Gina Harrison sold 689 shares of Qorvo stock in a transaction on Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the transaction, the vice president now owns 21,601 shares in the company, valued at $2,325,779.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on QRVO. StockNews.com cut Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Morgan Stanley lowered Qorvo from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $130.00 to $120.00 in a research report on Friday, October 11th. Raymond James upped their target price on shares of Qorvo from $115.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. TD Cowen raised shares of Qorvo to a “hold” rating in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Qorvo from $100.00 to $115.00 and gave the stock an “underweight” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $121.29.

Qorvo Stock Performance

Shares of QRVO opened at $100.24 on Thursday. Qorvo, Inc. has a 12 month low of $80.62 and a 12 month high of $130.99. The business’s fifty day simple moving average is $105.82 and its two-hundred day simple moving average is $108.43. The company has a current ratio of 1.95, a quick ratio of 1.36 and a debt-to-equity ratio of 0.44. The company 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 (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.71 by $0.16. The company had revenue of $886.70 million during the quarter, compared to the consensus estimate of $851.95 million. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. Qorvo’s revenue for the quarter was up 36.2% on a year-over-year basis. During the same period last year, the company earned $0.03 EPS. Research analysts anticipate that Qorvo, Inc. will post 4.84 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.