Qorvo, Inc. (NASDAQ:QRVO) Shares Bought by Centiva Capital LP

Centiva Capital LP lifted its position in Qorvo, Inc. (NASDAQ:QRVO) by 338.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,696 shares of the semiconductor company’s stock after acquiring an additional 10,569 shares during the period. Centiva Capital LP’s holdings in Qorvo were worth $1,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Qorvo in the 2nd quarter valued at $29,000. EverSource Wealth Advisors LLC increased its stake in Qorvo by 81.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 115 shares in the last quarter. Larson Financial Group LLC grew its holdings in Qorvo by 163.4% during the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 201 shares during the last quarter. New Millennium Group LLC acquired a new stake in Qorvo during the 2nd quarter valued at $34,000. Finally, Blue Trust Inc. boosted its holdings in shares of Qorvo by 241.6% during the second quarter. Blue Trust Inc. now owns 345 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 244 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Needham & Company LLC assumed coverage on Qorvo in a research report on Monday, October 28th. They issued a “buy” rating and a $135.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on Qorvo from $115.00 to $95.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Benchmark cut Qorvo from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. TD Cowen dropped their price target on Qorvo from $125.00 to $85.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Finally, Barclays cut their target price on shares of Qorvo from $120.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $102.88.

Qorvo Price Performance

Shares of NASDAQ:QRVO opened at $70.43 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38. Qorvo, Inc. has a one year low of $64.98 and a one year high of $130.99. The firm has a 50 day simple moving average of $85.56 and a 200 day simple moving average of $101.70. The company has a market cap of $6.66 billion, a price-to-earnings ratio of -48.24, a PEG ratio of 5.67 and a beta of 1.42.

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

Insider Buying and Selling

In other news, VP Gina Harrison sold 689 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $2,325,779.67. The trade was a 3.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

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.