Oak Thistle LLC Has $208,000 Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Oak Thistle LLC decreased its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 85.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,979 shares of the semiconductor company’s stock after selling 18,057 shares during the period. Oak Thistle LLC’s holdings in Qorvo were worth $208,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in QRVO. Larson Financial Group LLC increased its stake in Qorvo by 163.4% in the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 201 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Qorvo in the third quarter worth $41,000. Versant Capital Management Inc raised its holdings in shares of Qorvo by 89.7% during the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 286 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Qorvo by 33.7% during the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 104 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in Qorvo by 33.8% in the third quarter. UMB Bank n.a. now owns 736 shares of the semiconductor company’s stock valued at $76,000 after purchasing an additional 186 shares in the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on QRVO. Raymond James cut Qorvo from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. TD Cowen decreased their target price on shares of Qorvo from $125.00 to $85.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. Barclays cut their price target on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a report on Friday. Bank of America decreased their price objective on shares of Qorvo from $115.00 to $80.00 and set an “underperform” rating for the company in a report on Wednesday, October 30th. Finally, Craig Hallum cut their target price on Qorvo from $142.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $98.47.

Qorvo Price Performance

Shares of Qorvo stock opened at $84.21 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38. The company has a market cap of $7.96 billion, a PE ratio of -57.68, a price-to-earnings-growth ratio of 5.74 and a beta of 1.40. The firm has a fifty day moving average price of $70.09 and a two-hundred day moving average price of $93.87. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $130.99.

Qorvo (NASDAQ:QRVO) last released its earnings results 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. The business had revenue of $1.05 billion for 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% compared to the same quarter last year. During the same period last year, the business earned $1.99 earnings per share. Analysts expect that Qorvo, Inc. will post 3.37 EPS for the current year.

Insider Activity at Qorvo

In other news, SVP Philip Chesley sold 4,045 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total value of $283,756.75. Following the completion of the transaction, the senior vice president now owns 30,261 shares in the company, valued at approximately $2,122,809.15. This represents a 11.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

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.