Tidal Investments LLC Increases Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

Tidal Investments LLC lifted its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 188.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,729 shares of the semiconductor company’s stock after buying an additional 24,635 shares during the period. Tidal Investments LLC’s holdings in Qorvo were worth $3,897,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Larson Financial Group LLC raised its holdings in shares of Qorvo by 163.4% in the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 201 shares during the period. New Millennium Group LLC acquired a new stake in Qorvo during the 2nd quarter worth approximately $34,000. Blue Trust Inc. raised its holdings in Qorvo by 241.6% in the second quarter. Blue Trust Inc. now owns 345 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 244 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Qorvo during the third quarter valued at approximately $41,000. Finally, Farther Finance Advisors LLC grew its stake in Qorvo by 33.7% during the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after buying an additional 104 shares during the period. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Stock Down 0.1 %

NASDAQ:QRVO opened at $69.59 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of -47.66, a price-to-earnings-growth ratio of 5.53 and a beta of 1.42. Qorvo, Inc. has a one year low of $64.54 and a one year high of $130.99. The stock has a 50-day simple moving average of $80.23 and a 200 day simple moving average of $100.04.

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

Insider Buying and Selling at Qorvo

In other news, SVP Philip Chesley sold 4,045 shares of Qorvo stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $70.15, for a total value of $283,756.75. Following the completion of the transaction, the senior vice president now directly owns 30,261 shares of the company’s stock, valued at approximately $2,122,809.15. The trade was a 11.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.46% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on QRVO. UBS Group reduced their target price on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. StockNews.com raised Qorvo from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. dropped their target price on Qorvo from $115.00 to $95.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Needham & Company LLC started coverage on Qorvo in a research report on Monday, October 28th. They set a “buy” rating and a $135.00 price target on the stock. Finally, Craig Hallum lowered their price objective on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $102.88.

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.