Hanson & Doremus Investment Management trimmed its holdings in shares of Qorvo Inc (NASDAQ:QRVO) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,415 shares of the semiconductor company’s stock after selling 172 shares during the period. Hanson & Doremus Investment Management’s holdings in Qorvo were worth $1,908,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Parametric Portfolio Associates LLC boosted its holdings in Qorvo by 11.4% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 321,398 shares of the semiconductor company’s stock valued at $23,828,000 after acquiring an additional 33,010 shares during the period. Pictet Asset Management Ltd. lifted its holdings in Qorvo by 16.1% in the 3rd quarter. Pictet Asset Management Ltd. now owns 32,095 shares of the semiconductor company’s stock worth $2,380,000 after buying an additional 4,450 shares during the period. Alps Advisors Inc. lifted its holdings in Qorvo by 22.9% in the 3rd quarter. Alps Advisors Inc. now owns 13,650 shares of the semiconductor company’s stock worth $1,012,000 after buying an additional 2,540 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Qorvo by 6.8% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 509,366 shares of the semiconductor company’s stock worth $37,764,000 after buying an additional 32,226 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of Qorvo by 7.4% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,452 shares of the semiconductor company’s stock worth $108,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.
In other Qorvo news, VP James L. Klein sold 1,906 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $114.76, for a total value of $218,732.56. Following the completion of the transaction, the vice president now owns 45,759 shares of the company’s stock, valued at approximately $5,251,302.84. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Walter H. Wilkinson sold 2,762 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $101.71, for a total value of $280,923.02. Following the completion of the transaction, the director now directly owns 36,565 shares of the company’s stock, valued at approximately $3,719,026.15. The disclosure for this sale can be found here. Insiders sold 23,070 shares of company stock worth $2,402,702 over the last three months. Corporate insiders own 0.71% of the company’s stock.
A number of equities analysts recently commented on the company. Benchmark upped their target price on Qorvo from $100.00 to $127.00 and gave the company a “positive” rating in a report on Monday, December 16th. Raymond James boosted their price objective on shares of Qorvo from $90.00 to $98.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Cfra upgraded shares of Qorvo from a “sell” rating to a “hold” rating in a report on Friday, November 1st. UBS Group raised their target price on shares of Qorvo from $74.00 to $81.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Morgan Stanley lifted their target price on shares of Qorvo from $104.00 to $112.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 18th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Qorvo currently has an average rating of “Buy” and a consensus target price of $97.22.
Qorvo stock traded up $0.65 during mid-day trading on Thursday, hitting $113.15. The company had a trading volume of 45,958 shares, compared to its average volume of 1,474,866. The company has a current ratio of 3.45, a quick ratio of 2.37 and a debt-to-equity ratio of 0.24. The stock’s 50 day moving average price is $112.24 and its two-hundred day moving average price is $86.80. Qorvo Inc has a 12 month low of $58.52 and a 12 month high of $118.49. The company has a market capitalization of $13.07 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 2.01 and a beta of 1.22.
Qorvo (NASDAQ:QRVO) last released its earnings results on Thursday, October 31st. The semiconductor company reported $1.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.22. Qorvo had a return on equity of 15.10% and a net margin of 8.19%. The business had revenue of $806.70 million for the quarter, compared to the consensus estimate of $754.67 million. During the same period in the previous year, the company posted $1.75 earnings per share. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. Equities research analysts anticipate that Qorvo Inc will post 4.85 EPS for the current year.
Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.
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