Quest Partners LLC Has $1.20 Million Position in Qorvo, Inc. (NASDAQ:QRVO)

Quest Partners LLC increased its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 504.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,596 shares of the semiconductor company’s stock after purchasing an additional 9,678 shares during the quarter. Quest Partners LLC’s holdings in Qorvo were worth $1,198,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in QRVO. Mather Group LLC. increased its holdings in shares of Qorvo by 5.6% during the 2nd quarter. Mather Group LLC. now owns 1,812 shares of the semiconductor company’s stock worth $208,000 after purchasing an additional 96 shares during the period. Farther Finance Advisors LLC increased its stake in 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 acquiring an additional 104 shares during the period. V Square Quantitative Management LLC raised its holdings in Qorvo by 5.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company’s stock valued at $231,000 after acquiring an additional 107 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Qorvo by 81.0% in the 1st 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. Finally, American Trust grew its holdings in shares of Qorvo by 5.8% during the 2nd quarter. American Trust now owns 2,110 shares of the semiconductor company’s stock worth $245,000 after purchasing an additional 115 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on QRVO shares. Susquehanna cut their target price on Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Barclays reduced their price objective on shares of Qorvo from $120.00 to $90.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th. StockNews.com cut shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Needham & Company LLC assumed coverage on shares of Qorvo in a research note on Monday, October 28th. They issued a “buy” rating and a $135.00 target price on the stock. Finally, Raymond James lowered Qorvo from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Qorvo presently has an average rating of “Hold” and a consensus price target of $102.88.

Qorvo Trading Down 0.1 %

QRVO stock opened at $66.28 on Wednesday. The business has a fifty day moving average price of $92.43 and a 200 day moving average price of $103.75. Qorvo, Inc. has a fifty-two week low of $65.35 and a fifty-two week high of $130.99. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of -45.40, a P/E/G ratio of 5.26 and a beta of 1.49. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, beating 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 firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the firm posted $1.99 EPS. The business’s revenue was down 5.2% on a year-over-year basis. Analysts expect that Qorvo, Inc. will post 3.37 EPS for the current fiscal year.

Insider Buying and Selling at Qorvo

In other Qorvo news, VP Gina Harrison sold 689 shares of the stock in a transaction on 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 approximately $2,325,779.67. This trade represents a 3.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.