GAMMA Investing LLC Decreases Stake in Qorvo, Inc. (NASDAQ:QRVO)

GAMMA Investing LLC reduced its position in Qorvo, Inc. (NASDAQ:QRVO) by 9.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,841 shares of the semiconductor company’s stock after selling 199 shares during the period. GAMMA Investing LLC’s holdings in Qorvo were worth $129,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in shares of Qorvo by 33.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 104 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in Qorvo by 5.0% during 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 during the period. American Trust lifted its position in shares of Qorvo by 5.8% during the second quarter. American Trust now owns 2,110 shares of the semiconductor company’s stock worth $245,000 after acquiring an additional 115 shares in the last quarter. Verdence Capital Advisors LLC boosted its holdings in shares of Qorvo by 3.7% in the third quarter. Verdence Capital Advisors LLC now owns 3,884 shares of the semiconductor company’s stock worth $401,000 after acquiring an additional 140 shares during the period. Finally, Narwhal Capital Management boosted its holdings in shares of Qorvo by 7.7% in the third quarter. Narwhal Capital Management now owns 2,240 shares of the semiconductor company’s stock worth $231,000 after acquiring an additional 160 shares during the period. 88.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

QRVO has been the topic of a number of recent research reports. TD Cowen dropped their price objective on Qorvo from $125.00 to $85.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Susquehanna lowered their price target on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Needham & Company LLC began coverage on shares of Qorvo in a research note on Monday, October 28th. They set a “buy” rating and a $135.00 price objective for the company. Mizuho lowered their target price on shares of Qorvo from $98.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Morgan Stanley downgraded shares of Qorvo from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $130.00 to $120.00 in a report on Friday, October 11th. Two 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.com, the company presently has an average rating of “Hold” and a consensus price target of $101.41.

Insider Activity

In related news, SVP Philip Chesley sold 4,045 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $70.15, for a total value of $283,756.75. Following the sale, the senior vice president now directly owns 30,261 shares of the company’s stock, valued at $2,122,809.15. This trade represents a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.46% of the company’s stock.

Qorvo Stock Performance

NASDAQ:QRVO opened at $73.08 on Friday. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of -50.05, a PEG ratio of 5.58 and a beta of 1.40. The business has a 50 day moving average of $69.73 and a 200 day moving average of $95.54. 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, Inc. has a 1-year low of $64.54 and a 1-year high of $130.99.

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

Qorvo 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.