20,659 Shares in Qorvo, Inc. (NASDAQ:QRVO) Acquired by Sovereign s Capital Management LLC

Sovereign s Capital Management LLC acquired a new position in Qorvo, Inc. (NASDAQ:QRVO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 20,659 shares of the semiconductor company’s stock, valued at approximately $1,445,000.

Several other institutional investors have also recently bought and sold shares of QRVO. Principal Financial Group Inc. raised its position in Qorvo by 1.3% in the 3rd quarter. Principal Financial Group Inc. now owns 109,100 shares of the semiconductor company’s stock worth $11,270,000 after purchasing an additional 1,426 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in shares of Qorvo during the 4th quarter valued at $202,000. Janney Montgomery Scott LLC raised its position in shares of Qorvo by 245.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company’s stock valued at $1,024,000 after acquiring an additional 10,405 shares during the last quarter. CX Institutional bought a new stake in shares of Qorvo during the 4th quarter valued at $224,000. Finally, Blue Trust Inc. raised its position in shares of Qorvo by 23.6% during the 4th quarter. Blue Trust Inc. now owns 1,739 shares of the semiconductor company’s stock valued at $122,000 after acquiring an additional 332 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Insider Transactions at Qorvo

In other news, Director John R. Harding sold 1,450 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total transaction of $101,630.50. Following the completion of the transaction, the director now directly owns 7,597 shares in the company, valued at $532,473.73. This represents a 16.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.46% of the company’s stock.

Qorvo Price Performance

Shares of NASDAQ QRVO opened at $79.64 on Monday. The firm has a market cap of $7.44 billion, a PE ratio of 284.43, a PEG ratio of 15.57 and a beta of 1.38. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46. Qorvo, Inc. has a 1-year low of $49.46 and a 1-year high of $130.99. The company has a fifty day moving average price of $67.06 and a 200 day moving average price of $71.30.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.42. The firm had revenue of $869.47 million during the quarter, compared to analyst estimates of $850.13 million. Qorvo had a net margin of 0.71% and a return on equity of 12.41%. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.39 EPS. Research analysts predict that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on QRVO shares. StockNews.com upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Stifel Nicolaus set a $75.00 target price on shares of Qorvo in a research report on Monday, April 28th. Barclays upped their target price on shares of Qorvo from $60.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 30th. Morgan Stanley upgraded shares of Qorvo from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $90.00 to $106.00 in a research report on Tuesday, January 21st. Finally, Citigroup dropped their target price on shares of Qorvo from $72.00 to $69.00 and set a “sell” rating for the company in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $91.21.

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.