1,747 Shares in Qorvo, Inc. (NASDAQ:QRVO) Acquired by Pitcairn Co.

Pitcairn Co. bought a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,747 shares of the semiconductor company’s stock, valued at approximately $201,000.

Several other institutional investors have also recently added to or reduced their stakes in QRVO. Park Place Capital Corp lifted its stake in Qorvo by 398.1% during the first quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 207 shares during the last quarter. Riverview Trust Co purchased a new stake in Qorvo during the first quarter worth approximately $40,000. Fidelis Capital Partners LLC purchased a new stake in Qorvo during the first quarter worth approximately $58,000. GAMMA Investing LLC acquired a new stake in shares of Qorvo in the fourth quarter valued at approximately $104,000. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Qorvo by 18.7% in the fourth quarter. Quadrant Capital Group LLC now owns 951 shares of the semiconductor company’s stock valued at $107,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on QRVO shares. The Goldman Sachs Group decreased their price objective on Qorvo from $117.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Rosenblatt Securities reissued a “neutral” rating and issued a $105.00 price objective on shares of Qorvo in a report on Wednesday, June 12th. Mizuho decreased their price target on Qorvo from $115.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Susquehanna increased their price target on Qorvo from $95.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. Finally, Benchmark decreased their price target on Qorvo from $136.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $112.94.

Qorvo Stock Down 1.1 %

Shares of NASDAQ:QRVO opened at $118.67 on Friday. The stock’s 50-day moving average price is $111.40 and its two-hundred day moving average price is $110.16. The company has a current ratio of 1.99, a quick ratio of 1.41 and a debt-to-equity ratio of 0.44. Qorvo, Inc. has a 12-month low of $80.62 and a 12-month high of $130.99. The firm has a market cap of $11.28 billion, a price-to-earnings ratio of -162.56, a PEG ratio of 1.16 and a beta of 1.46.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.18. The business had revenue of $941.00 million for the quarter, compared to analyst estimates 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 revenue was up 48.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 EPS. On average, research analysts forecast that Qorvo, Inc. will post 5.16 EPS for the current year.

Insider Activity

In other news, SVP Paul J. Fego sold 2,132 shares of Qorvo stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total value of $211,728.92. Following the transaction, the senior vice president now directly owns 25,201 shares of the company’s stock, valued at approximately $2,502,711.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Paul J. Fego sold 2,132 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total transaction of $211,728.92. Following the transaction, the senior vice president now directly owns 25,201 shares of the company’s stock, valued at approximately $2,502,711.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John R. Harding sold 941 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $97.36, for a total value of $91,615.76. Following the transaction, the director now directly owns 6,950 shares in the company, valued at $676,652. The disclosure for this sale can be found here. Insiders have sold 45,372 shares of company stock valued at $4,517,858 in the last three months. Corporate insiders own 0.46% of the company’s stock.

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.