Samalin Investment Counsel LLC Buys 139 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Samalin Investment Counsel LLC raised its stake in Qorvo, Inc. (NASDAQ:QRVOGet Rating) by 4.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,063 shares of the semiconductor company’s stock after buying an additional 139 shares during the quarter. Samalin Investment Counsel LLC’s holdings in Qorvo were worth $380,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Standard Family Office LLC bought a new stake in shares of Qorvo in the fourth quarter worth $25,000. Bellevue Asset Management LLC bought a new stake in shares of Qorvo in the first quarter worth $25,000. Johnson Financial Group Inc. bought a new stake in shares of Qorvo in the fourth quarter worth $26,000. Parkside Financial Bank & Trust increased its holdings in Qorvo by 106.4% during the first quarter. Parkside Financial Bank & Trust now owns 225 shares of the semiconductor company’s stock worth $28,000 after buying an additional 116 shares during the last quarter. Finally, IndexIQ Advisors LLC acquired a new position in Qorvo during the first quarter worth $32,000. Institutional investors own 88.31% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. UBS Group lowered their target price on shares of Qorvo from $135.00 to $120.00 and set a “neutral” rating on the stock in a report on Thursday, August 4th. Morgan Stanley lowered their target price on shares of Qorvo from $120.00 to $109.00 and set an “equal weight” rating on the stock in a report on Thursday, August 4th. StockNews.com downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. Bank of America downgraded shares of Qorvo from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $125.00 to $95.00 in a report on Wednesday, June 29th. Finally, Wells Fargo & Company decreased their price objective on shares of Qorvo from $175.00 to $130.00 and set an “overweight” rating on the stock in a report on Monday, July 11th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $132.55.

Qorvo Trading Up 2.6 %

QRVO opened at $93.53 on Friday. Qorvo, Inc. has a twelve month low of $87.05 and a twelve month high of $183.55. The company has a 50-day simple moving average of $100.22 and a 200 day simple moving average of $109.10. The company has a quick ratio of 2.12, a current ratio of 3.30 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $9.65 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 2.06 and a beta of 1.38.

Qorvo (NASDAQ:QRVOGet Rating) last posted its earnings results on Wednesday, August 3rd. The semiconductor company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.05. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Qorvo had a net margin of 17.87% and a return on equity of 26.50%. Analysts predict that Qorvo, Inc. will post 7.03 EPS for the current fiscal year.

Insider Transactions at Qorvo

In other news, VP Paul J. Fego sold 2,438 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $110.18, for a total value of $268,618.84. Following the completion of the transaction, the vice president now owns 34,079 shares of the company’s stock, valued at $3,754,824.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Qorvo news, VP Frank P. Stewart sold 1,224 shares of the stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $100.27, for a total transaction of $122,730.48. Following the completion of the sale, the vice president now owns 4,950 shares of the company’s stock, valued at approximately $496,336.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul J. Fego sold 2,438 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $110.18, for a total transaction of $268,618.84. Following the sale, the vice president now directly owns 34,079 shares of the company’s stock, valued at approximately $3,754,824.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,826 shares of company stock valued at $1,176,266. 0.45% of the stock is currently owned by insiders.

Qorvo Profile

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Qorvo, Inc develops and commercializes technologies and products for wireless, wired, and power markets worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. It offers mobile devices, such as smartphones, wearables, laptops, tablets and other devices; radio frequency power management integrated circuits, ultra-wideband (UWB) system-on-a-chip (SoC) and system-in-package (SiP) solutions, MEMS-based sensors, antenna tuners, and antennaplexers, as well as discrete multiplexers, duplexers, filters, and switches; and cellular base stations include switch-low noise amplifier (LNA) modules, variable gain amplifiers, integrated power amplifier (PA) Doherty modules, discrete LNAs, and high power GaN amplifiers.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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