Yousif Capital Management LLC Cuts Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Yousif Capital Management LLC trimmed its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 3.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,719 shares of the semiconductor company’s stock after selling 568 shares during the quarter. Yousif Capital Management LLC’s holdings in Qorvo were worth $1,658,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of QRVO. Huntington National Bank increased its holdings in Qorvo by 8,090.0% during the third quarter. Huntington National Bank now owns 819 shares of the semiconductor company’s stock valued at $78,000 after buying an additional 809 shares during the period. GAMMA Investing LLC acquired a new stake in Qorvo in the fourth quarter valued at approximately $104,000. BluePath Capital Management LLC acquired a new stake in Qorvo in the third quarter valued at approximately $133,000. Allworth Financial LP boosted its stake in Qorvo by 16.7% in the third quarter. Allworth Financial LP now owns 1,416 shares of the semiconductor company’s stock valued at $135,000 after acquiring an additional 203 shares in the last quarter. Finally, Wahed Invest LLC boosted its stake 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 acquiring an additional 108 shares in the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Craig Hallum raised their target price on shares of Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Susquehanna restated a “neutral” rating and issued a $100.00 target price on shares of Qorvo in a research note on Monday, April 8th. The Goldman Sachs Group raised their target price on shares of Qorvo from $104.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. raised their target price on shares of Qorvo from $95.00 to $105.00 and gave the company an “underweight” rating in a research note on Thursday, February 1st. Finally, Barclays lifted their price objective on shares of Qorvo from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $111.53.

Qorvo Price Performance

NASDAQ QRVO opened at $111.89 on Thursday. The company has a fifty day moving average of $113.84 and a 200 day moving average of $105.59. Qorvo, Inc. has a 1 year low of $80.62 and a 1 year high of $121.65. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.33 and a current ratio of 1.90.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. Qorvo had a negative net margin of 6.11% and a positive return on equity of 10.41%. The company had revenue of $941.00 million during the quarter, compared to analysts’ expectations of $927.24 million. During the same quarter in the previous year, the company earned $0.11 earnings per share. The firm’s revenue for the quarter was up 48.7% on a year-over-year basis. On average, research analysts anticipate that Qorvo, Inc. will post 4.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Qorvo

In other Qorvo news, VP Gina Harrison sold 354 shares of Qorvo stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $40,356.00. Following the completion of the transaction, the vice president now owns 18,442 shares of the company’s stock, valued at $2,102,388. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Qorvo news, VP Gina Harrison sold 354 shares of Qorvo stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $40,356.00. Following the completion of the transaction, the vice president now owns 18,442 shares of the company’s stock, valued at $2,102,388. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Steven E. Creviston sold 3,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $120.00, for a total transaction of $360,000.00. Following the sale, the senior vice president now directly owns 77,552 shares of the company’s stock, valued at approximately $9,306,240. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,381 shares of company stock valued at $745,434. Corporate insiders own 0.43% of the company’s stock.

Qorvo 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.