Diversified Trust Co Increases Position in Qorvo, Inc. (NASDAQ:QRVO)

Diversified Trust Co raised its position in Qorvo, Inc. (NASDAQ:QRVO) by 793.2% during the first quarter, Holdings Channel reports. The firm owned 19,347 shares of the semiconductor company’s stock after buying an additional 17,181 shares during the quarter. Diversified Trust Co’s holdings in Qorvo were worth $2,222,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QRVO. Riverview Trust Co purchased a new stake in Qorvo in the first quarter valued at approximately $40,000. GAMMA Investing LLC purchased a new stake in Qorvo in the fourth quarter valued at approximately $104,000. Quadrant Capital Group LLC raised its position in Qorvo by 18.7% in the fourth quarter. Quadrant Capital Group LLC now owns 951 shares of the semiconductor company’s stock valued at $107,000 after purchasing an additional 150 shares during the period. Wahed Invest LLC raised its position in 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 period. Finally, Mather Group LLC. purchased a new stake in shares of Qorvo during the first quarter worth $193,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on QRVO. Needham & Company LLC reaffirmed a “buy” rating and set a $110.00 price objective on shares of Qorvo in a research report on Wednesday, June 12th. Benchmark cut their price objective on Qorvo from $136.00 to $128.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Mizuho cut their price objective on Qorvo from $115.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. JPMorgan Chase & Co. cut their price objective on Qorvo from $105.00 to $100.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. Finally, Susquehanna cut their price objective on Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $110.83.

Insider Transactions at Qorvo

In other news, Director John R. Harding sold 941 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $97.36, for a total transaction of $91,615.76. Following the completion of the sale, the director now owns 6,950 shares in the company, valued at $676,652. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director John R. Harding sold 941 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $97.36, for a total transaction of $91,615.76. Following the completion of the sale, the director now owns 6,950 shares in the company, valued at $676,652. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Paul J. Fego sold 2,132 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total transaction of $211,728.92. Following the sale, the senior vice president now owns 25,201 shares of the company’s stock, valued at approximately $2,502,711.31. 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. Company insiders own 0.43% of the company’s stock.

Qorvo Stock Performance

NASDAQ QRVO opened at $117.81 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.41 and a current ratio of 1.99. Qorvo, Inc. has a 1 year low of $80.62 and a 1 year high of $121.65. The company has a fifty day moving average of $104.88 and a two-hundred day moving average of $108.70.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.18. Qorvo had a negative net margin of 1.86% and a positive return on equity of 13.43%. The company had revenue of $941.00 million during the quarter, compared to the consensus estimate of $927.24 million. During the same quarter in the prior year, the firm posted $0.11 earnings per share. Qorvo’s revenue for the quarter was up 48.7% on a year-over-year basis. On average, equities analysts anticipate that Qorvo, Inc. will post 5.16 earnings per share for the current fiscal 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.