GHP Investment Advisors Inc. Sells 1,011 Shares of Qorvo, Inc. (NASDAQ:QRVO)

GHP Investment Advisors Inc. reduced its stake in Qorvo, Inc. (NASDAQ:QRVO) by 29.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,391 shares of the semiconductor company’s stock after selling 1,011 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Qorvo were worth $247,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Qorvo in the second quarter valued at approximately $29,000. Park Place Capital Corp boosted its stake in Qorvo by 398.1% in the 1st quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 207 shares during the period. EverSource Wealth Advisors LLC grew its holdings 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 buying an additional 115 shares in the last quarter. Versant Capital Management Inc grew its holdings in Qorvo by 9,333.3% in the 2nd quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 280 shares in the last quarter. Finally, New Millennium Group LLC bought a new position in Qorvo during the 2nd quarter worth $34,000. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Qorvo news, VP Gina Harrison sold 689 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the completion of the sale, the vice president now owns 21,601 shares of the company’s stock, valued at approximately $2,325,779.67. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is owned by insiders.

Qorvo Stock Down 0.5 %

Shares of NASDAQ:QRVO opened at $99.01 on Monday. Qorvo, Inc. has a 52-week low of $80.62 and a 52-week high of $130.99. The company has a fifty day moving average of $105.32 and a 200-day moving average of $108.17. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.36 and a current ratio of 1.95. The company has a market capitalization of $9.41 billion, a PE ratio of -135.63, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. The firm had revenue of $886.70 million for the quarter, compared to analyst estimates of $851.95 million. Qorvo had a negative net margin of 0.66% and a positive return on equity of 14.92%. The company’s revenue for the quarter was up 36.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 EPS. On average, equities analysts predict that Qorvo, Inc. will post 4.84 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Qorvo from $100.00 to $115.00 and gave the company an “underweight” rating in a research note on Wednesday, July 31st. Rosenblatt Securities increased their target price on shares of Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Piper Sandler dropped their price target on shares of Qorvo from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday. The Goldman Sachs Group boosted their price target on Qorvo from $105.00 to $118.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, StockNews.com lowered Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Qorvo has a consensus rating of “Hold” and an average price target of $119.86.

Qorvo Company 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.