Thurston Springer Miller Herd & Titak Inc. Takes Position in Qorvo, Inc. (NASDAQ:QRVO)

Thurston Springer Miller Herd & Titak Inc. bought a new stake in Qorvo, Inc. (NASDAQ:QRVO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 253 shares of the semiconductor company’s stock, valued at approximately $29,000.

A number of other institutional investors have also modified their holdings of the stock. EverSource Wealth Advisors LLC grew its holdings in Qorvo by 81.0% during 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. Park Place Capital Corp grew its holdings 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 acquiring an additional 207 shares during the period. Riverview Trust Co acquired a new position in Qorvo during the first quarter worth $40,000. Fidelis Capital Partners LLC acquired a new position in Qorvo during the first quarter worth $58,000. Finally, GAMMA Investing LLC purchased a new stake in Qorvo during the fourth quarter worth $104,000. Institutional investors and hedge funds own 88.57% of the company’s stock.

Insider Activity

In other Qorvo news, CEO Robert A. Bruggeworth sold 15,279 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $19,016,100. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Qorvo news, CEO Robert A. Bruggeworth sold 22,299 shares of the firm’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 $2,214,513.69. Following the completion of the sale, the chief executive officer now owns 154,714 shares in the company, valued at approximately $15,364,647.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Robert A. Bruggeworth sold 15,279 shares of the firm’s stock in a transaction that occurred 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 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. Over the last quarter, insiders sold 45,372 shares of company stock worth $4,517,858. 0.46% of the stock is currently owned by corporate insiders.

Qorvo Trading Down 1.5 %

NASDAQ:QRVO traded down $1.59 on Tuesday, hitting $103.02. 1,296,864 shares of the stock were exchanged, compared to its average volume of 1,383,050. The stock has a market cap of $9.77 billion, a PE ratio of -143.42, a PEG ratio of 1.29 and a beta of 1.46. The company has a current ratio of 1.95, a quick ratio of 1.41 and a debt-to-equity ratio of 0.44. The stock has a fifty day moving average of $113.78 and a 200-day moving average of $110.87. Qorvo, Inc. has a fifty-two week low of $80.62 and a fifty-two week high of $130.99.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.71 by $0.16. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. The company had revenue of $886.70 million during the quarter, compared to analyst estimates of $851.95 million. During the same period in the prior year, the firm posted $0.03 earnings per share. The firm’s revenue was up 36.2% on a year-over-year basis. As a group, equities analysts expect that Qorvo, Inc. will post 5.02 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. Raymond James boosted their target price on Qorvo from $115.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Barclays boosted their target price on Qorvo from $100.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Susquehanna decreased their target price on Qorvo from $145.00 to $135.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Piper Sandler reiterated a “neutral” rating and set a $120.00 target price (up from $105.00) on shares of Qorvo in a research report on Wednesday, July 31st. Finally, Benchmark decreased their target price on Qorvo from $136.00 to $128.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $121.00.

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.