Hennion & Walsh Asset Management Inc. Sells 103 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Hennion & Walsh Asset Management Inc. decreased its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 3.6% in the third quarter, Holdings Channel reports. The firm owned 2,768 shares of the semiconductor company’s stock after selling 103 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Qorvo were worth $286,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of QRVO. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Qorvo in the 2nd quarter worth $29,000. Park Place Capital Corp grew its holdings in shares of Qorvo by 398.1% in the first quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 207 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of 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 acquiring an additional 115 shares during the period. Versant Capital Management Inc grew its holdings in shares of 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 acquiring an additional 280 shares during the period. Finally, New Millennium Group LLC bought a new stake in shares of Qorvo in the second quarter worth $34,000. Institutional investors own 88.57% of the company’s stock.

Qorvo Price Performance

Shares of Qorvo stock opened at $100.48 on Wednesday. The stock’s 50-day simple moving average is $104.86 and its 200-day simple moving average is $107.98. Qorvo, Inc. has a 52 week low of $80.62 and a 52 week high of $130.99. The company has a market capitalization of $9.55 billion, a price-to-earnings ratio of -137.64, a PEG ratio of 1.20 and a beta of 1.45. The company has a quick ratio of 1.36, a current ratio of 1.95 and a debt-to-equity ratio of 0.44.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.85 by $0.03. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the business earned $1.99 earnings per share. The business’s revenue was down 5.2% on a year-over-year basis. As a group, analysts expect that Qorvo, Inc. will post 4.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on QRVO. Morgan Stanley lowered Qorvo from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $130.00 to $120.00 in a report on Friday, October 11th. JPMorgan Chase & Co. lifted their price objective on Qorvo from $100.00 to $115.00 and gave the stock an “underweight” rating in a report on Wednesday, July 31st. Craig Hallum lifted their price objective on Qorvo from $124.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. The Goldman Sachs Group lifted their price objective on Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Susquehanna cut their price target on Qorvo from $135.00 to $115.00 and set a “neutral” rating for the company in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $119.86.

Insider Activity

In other news, VP Gina Harrison sold 689 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $107.67, for a total value of $74,184.63. Following the transaction, the vice president now directly owns 21,601 shares in the company, valued at $2,325,779.67. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.46% of the company’s stock.

About Qorvo

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.