GAMMA Investing LLC Trims Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

GAMMA Investing LLC lowered its position in Qorvo, Inc. (NASDAQ:QRVO) by 9.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,841 shares of the semiconductor company’s stock after selling 199 shares during the period. GAMMA Investing LLC’s holdings in Qorvo were worth $129,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC raised its position 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 last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Qorvo in the third quarter worth approximately $41,000. Farther Finance Advisors LLC grew its holdings in shares of Qorvo by 33.7% during the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 104 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Qorvo by 89.7% during the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 286 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in Qorvo by 33.8% in the 3rd quarter. UMB Bank n.a. now owns 736 shares of the semiconductor company’s stock worth $76,000 after acquiring an additional 186 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Insider Activity

In related news, SVP Philip Chesley sold 4,045 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total transaction of $283,756.75. Following the completion of the sale, the senior vice president now owns 30,261 shares in the company, valued at $2,122,809.15. This represents a 11.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.46% of the company’s stock.

Qorvo Price Performance

QRVO stock opened at $73.08 on Friday. Qorvo, Inc. has a 1 year low of $64.54 and a 1 year high of $130.99. The firm has a market capitalization of $6.91 billion, a P/E ratio of -50.05, a P/E/G ratio of 5.58 and a beta of 1.40. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38. The business’s 50-day moving average is $69.73 and its two-hundred day moving average is $95.54.

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

Wall Street Analyst Weigh In

QRVO has been the topic of a number of research analyst reports. Craig Hallum lowered their price target on Qorvo from $142.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Morgan Stanley cut shares of Qorvo from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $130.00 to $120.00 in a research note on Friday, October 11th. TD Cowen reduced their price target on shares of Qorvo from $125.00 to $85.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Barclays lowered their price objective on shares of Qorvo from $120.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 30th. Finally, Raymond James downgraded shares of Qorvo from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $101.41.

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.