North Star Asset Management Inc. Reduces Holdings in Qorvo, Inc. (NASDAQ:QRVO)

North Star Asset Management Inc. reduced its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 1.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,385 shares of the semiconductor company’s stock after selling 110 shares during the quarter. North Star Asset Management Inc.’s holdings in Qorvo were worth $719,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Huntington National Bank grew its holdings in Qorvo by 8,090.0% in the third quarter. Huntington National Bank now owns 819 shares of the semiconductor company’s stock valued at $78,000 after purchasing an additional 809 shares during the last quarter. BluePath Capital Management LLC acquired a new position in Qorvo during the third quarter worth about $133,000. Allworth Financial LP lifted its holdings in shares of Qorvo by 16.7% in the third quarter. Allworth Financial LP now owns 1,416 shares of the semiconductor company’s stock valued at $135,000 after purchasing an additional 203 shares in the last quarter. Wahed Invest LLC grew its position in shares of Qorvo by 7.5% in the third quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company’s stock valued at $147,000 after purchasing an additional 108 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new position in shares of Qorvo during the 3rd quarter worth approximately $203,000. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Qorvo Stock Up 1.1 %

Shares of QRVO stock traded up $1.14 during trading hours on Monday, reaching $106.02. The company had a trading volume of 131,033 shares, compared to its average volume of 1,249,261. The stock’s fifty day simple moving average is $113.74 and its 200 day simple moving average is $104.61. The company has a market capitalization of $10.24 billion, a P/E ratio of -48.78, a price-to-earnings-growth ratio of 0.81 and a beta of 1.56. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.33 and a current ratio of 1.90. Qorvo, Inc. has a twelve month low of $80.62 and a twelve month high of $121.65.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.47. Qorvo had a negative net margin of 6.11% and a positive return on equity of 10.41%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1 billion. As a group, sell-side analysts expect that Qorvo, Inc. will post 4.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Steven E. Creviston sold 3,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $120.00, for a total value of $360,000.00. Following the transaction, the senior vice president now owns 77,552 shares in the company, valued at $9,306,240. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Gina Harrison sold 354 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $40,356.00. Following the sale, the vice president now owns 18,442 shares in the company, valued at approximately $2,102,388. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Steven E. Creviston sold 3,000 shares of Qorvo stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $120.00, for a total value of $360,000.00. Following the completion of the transaction, the senior vice president now owns 77,552 shares of the company’s stock, valued at $9,306,240. The disclosure for this sale can be found here. Insiders have sold 6,381 shares of company stock valued at $745,434 in the last quarter. Company insiders own 0.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on QRVO. JPMorgan Chase & Co. boosted their price target on Qorvo from $95.00 to $105.00 and gave the stock an “underweight” rating in a report on Thursday, February 1st. The Goldman Sachs Group raised their price target on shares of Qorvo from $104.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Barclays boosted their price objective on shares of Qorvo from $95.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Craig Hallum raised their target price on shares of Qorvo from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $125.00 price target on shares of Qorvo in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $111.53.

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.