Sanctuary Advisors LLC Acquires New Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Sanctuary Advisors LLC bought a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,581 shares of the semiconductor company’s stock, valued at approximately $535,000.

A number of other institutional investors have also made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Qorvo in the 2nd quarter worth approximately $29,000. Park Place Capital Corp boosted its position in shares of Qorvo by 398.1% during the first quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock worth $30,000 after buying an additional 207 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Qorvo by 81.0% in the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 115 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Qorvo by 9,333.3% in the 2nd quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 280 shares during the period. Finally, New Millennium Group LLC purchased a new stake in shares of Qorvo in the 2nd quarter valued at $34,000. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on QRVO. JPMorgan Chase & Co. lifted their target price on Qorvo from $100.00 to $115.00 and gave the company an “underweight” rating in a research report on Wednesday, July 31st. Raymond James upped their target price on shares of Qorvo from $115.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Susquehanna reduced their target price on shares of Qorvo from $145.00 to $135.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. TD Cowen upgraded shares of Qorvo to a “hold” rating in a research note on Monday, September 16th. Finally, Morgan Stanley cut Qorvo from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $130.00 to $120.00 in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Qorvo has an average rating of “Hold” and a consensus target price of $122.71.

Insider Buying and Selling at Qorvo

In other news, VP Gina Harrison sold 689 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $107.67, for a total value of $74,184.63. Following the completion of the sale, the vice president now directly owns 21,601 shares of the company’s stock, valued at approximately $2,325,779.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is currently owned by insiders.

Qorvo Price Performance

Shares of NASDAQ QRVO opened at $103.58 on Wednesday. The stock’s 50-day simple moving average is $106.31 and its 200-day simple moving average is $108.88. The firm has a market capitalization of $9.84 billion, a PE ratio of -141.89, a price-to-earnings-growth ratio of 1.24 and a beta of 1.45. Qorvo, Inc. has a fifty-two week low of $80.62 and a fifty-two week high of $130.99. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.36 and a current ratio of 1.95.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. The company had revenue of $886.70 million for the quarter, compared to analysts’ expectations of $851.95 million. Qorvo had a negative net margin of 0.66% and a positive return on equity of 14.92%. The firm’s revenue for the quarter was up 36.2% on a year-over-year basis. During the same quarter last year, the company earned $0.03 earnings per share. As a group, equities research analysts forecast that Qorvo, Inc. will post 4.84 EPS for the current fiscal year.

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.