Brooklyn Investment Group Purchases Shares of 933 Qorvo, Inc. (NASDAQ:QRVO)

Brooklyn Investment Group purchased a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 933 shares of the semiconductor company’s stock, valued at approximately $96,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Qorvo during the second quarter valued at approximately $29,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Qorvo by 81.0% during 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 last quarter. Versant Capital Management Inc grew its position in Qorvo by 9,333.3% in the second quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 280 shares in the last quarter. New Millennium Group LLC bought a new position in Qorvo in the second quarter valued at $34,000. Finally, Larson Financial Group LLC increased its stake in Qorvo by 163.4% in the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Insider Transactions at Qorvo

In related news, VP Gina Harrison sold 689 shares of Qorvo stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $107.67, for a total transaction of $74,184.63. Following the sale, the vice president now directly owns 21,601 shares in the company, valued at $2,325,779.67. The trade was a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on QRVO. The Goldman Sachs Group lifted their price target on Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Bank of America dropped their target price on Qorvo from $115.00 to $80.00 and set an “underperform” rating for the company in a research report on Wednesday, October 30th. Susquehanna reduced their price target on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. UBS Group decreased their price target on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Finally, Needham & Company LLC began coverage on shares of Qorvo in a research note on Monday, October 28th. They issued a “buy” rating and a $135.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Qorvo currently has an average rating of “Hold” and an average target price of $102.88.

Qorvo Trading Up 0.4 %

NASDAQ QRVO opened at $68.40 on Thursday. The stock has a market cap of $6.47 billion, a P/E ratio of -46.85, a price-to-earnings-growth ratio of 5.59 and a beta of 1.49. Qorvo, Inc. has a fifty-two week low of $64.98 and a fifty-two week high of $130.99. The stock has a 50 day simple moving average of $88.82 and a two-hundred day simple moving average of $102.74. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90.

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

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.