Steph & Co. Invests $111,000 in Qorvo, Inc. (NASDAQ:QRVO)

Steph & Co. acquired a new position in Qorvo, Inc. (NASDAQ:QRVO) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,535 shares of the semiconductor company’s stock, valued at approximately $111,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. United Advisor Group LLC acquired a new stake in shares of Qorvo during the 1st quarter worth about $351,000. Clarius Group LLC acquired a new stake in shares of Qorvo during the first quarter valued at about $240,000. Hanson & Doremus Investment Management raised its stake in shares of Qorvo by 24.0% in the 1st quarter. Hanson & Doremus Investment Management now owns 6,636 shares of the semiconductor company’s stock valued at $481,000 after acquiring an additional 1,286 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Qorvo by 10.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,561 shares of the semiconductor company’s stock worth $547,000 after acquiring an additional 717 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC boosted its position in shares of Qorvo by 2.5% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 61,595 shares of the semiconductor company’s stock worth $4,460,000 after purchasing an additional 1,497 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Stock Up 0.8%

Qorvo stock opened at $81.59 on Wednesday. The stock’s fifty day moving average is $73.90 and its two-hundred day moving average is $73.15. The stock has a market cap of $7.59 billion, a PE ratio of 140.67, a P/E/G ratio of 2.16 and a beta of 1.37. Qorvo, Inc. has a 1-year low of $49.46 and a 1-year high of $130.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.77 and a quick ratio of 1.95.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.42. Qorvo had a return on equity of 12.48% and a net margin of 1.50%. The firm had revenue of $869.47 million during the quarter, compared to the consensus estimate of $850.13 million. During the same period in the prior year, the company posted $1.39 earnings per share. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. On average, sell-side analysts expect that Qorvo, Inc. will post 4.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on QRVO. Needham & Company LLC cut their target price on Qorvo from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. TD Cowen cut their price objective on Qorvo from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, April 30th. Benchmark raised Qorvo from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Wednesday, April 30th. Stifel Nicolaus set a $75.00 target price on Qorvo in a research report on Monday, April 28th. Finally, Loop Capital reduced their price target on shares of Qorvo from $90.00 to $75.00 and set a “hold” rating on the stock in a research report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $91.21.

Insider Buying and Selling

In related news, Director John R. Harding sold 1,450 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $70.09, for a total transaction of $101,630.50. Following the transaction, the director now owns 7,597 shares in the company, valued at $532,473.73. This trade represents a 16.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.46% of the stock is owned by company 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.