Park Place Capital Corp Has $30,000 Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Park Place Capital Corp lifted its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 398.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 259 shares of the semiconductor company’s stock after buying an additional 207 shares during the period. Park Place Capital Corp’s holdings in Qorvo were worth $30,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. FIL Ltd increased its holdings in shares of Qorvo by 4.5% during the fourth quarter. FIL Ltd now owns 2,778,629 shares of the semiconductor company’s stock worth $312,901,000 after buying an additional 120,213 shares in the last quarter. Boston Partners lifted its holdings in Qorvo by 0.5% during the 4th quarter. Boston Partners now owns 1,436,328 shares of the semiconductor company’s stock worth $161,726,000 after buying an additional 6,558 shares during the period. Norges Bank bought a new stake in shares of Qorvo in the 4th quarter valued at about $118,120,000. Charles Schwab Investment Management Inc. increased its stake in shares of Qorvo by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 916,073 shares of the semiconductor company’s stock valued at $103,159,000 after buying an additional 22,951 shares during the period. Finally, Balyasny Asset Management L.P. raised its position in shares of Qorvo by 161.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 857,596 shares of the semiconductor company’s stock worth $96,574,000 after acquiring an additional 529,309 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

QRVO has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Qorvo from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Needham & Company LLC reissued a “buy” rating and set a $110.00 target price on shares of Qorvo in a research note on Wednesday, June 12th. Benchmark cut their price target on shares of Qorvo from $136.00 to $128.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Barclays decreased their price target on Qorvo from $110.00 to $100.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $105.00 price objective on shares of Qorvo in a research note on Wednesday, June 12th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $110.83.

Qorvo Trading Up 0.9 %

QRVO opened at $118.90 on Wednesday. Qorvo, Inc. has a fifty-two week low of $80.62 and a fifty-two week high of $121.65. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.41 and a current ratio of 1.99. The company’s 50-day moving average is $105.10 and its 200 day moving average is $108.75.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.21 by $0.18. The firm had revenue of $941.00 million during the quarter, compared to the consensus estimate of $927.24 million. Qorvo had a positive return on equity of 13.43% and a negative net margin of 1.86%. The company’s quarterly revenue was up 48.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 earnings per share. On average, equities research analysts anticipate that Qorvo, Inc. will post 5.16 earnings per share for the current fiscal year.

Insider Transactions at Qorvo

In other news, CEO Robert A. Bruggeworth sold 15,279 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $100.00, for a total value of $1,527,900.00. Following the completion of the sale, the chief executive officer now owns 190,161 shares in the company, valued at approximately $19,016,100. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director John R. Harding sold 941 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $97.36, for a total value of $91,615.76. Following the completion of the sale, the director now owns 6,950 shares in the company, valued at approximately $676,652. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert A. Bruggeworth sold 15,279 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $100.00, for a total transaction of $1,527,900.00. Following the completion of the sale, the chief executive officer now owns 190,161 shares of the company’s stock, valued at approximately $19,016,100. The disclosure for this sale can be found here. Insiders sold a total of 45,372 shares of company stock worth $4,517,858 in the last quarter. 0.43% 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.