Chicago Partners Investment Group LLC Invests $318,000 in Qorvo, Inc. (NASDAQ:QRVO)

Chicago Partners Investment Group LLC acquired a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,466 shares of the semiconductor company’s stock, valued at approximately $318,000.

Several other large investors have also modified their holdings of the stock. Signaturefd LLC lifted its holdings in shares of Qorvo by 34.6% during the 1st quarter. Signaturefd LLC now owns 662 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 170 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Qorvo by 222.6% during the 1st quarter. Larson Financial Group LLC now owns 429 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 296 shares during the period. City Holding Co. purchased a new position in shares of Qorvo during the 1st quarter worth about $25,000. Curat Global LLC purchased a new position in shares of Qorvo during the 1st quarter worth about $34,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Qorvo during the 1st quarter worth about $34,000. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Qorvo Trading Down 1.3%

QRVO opened at $86.98 on Tuesday. Qorvo, Inc. has a 52-week low of $49.46 and a 52-week high of $117.90. The company has a quick ratio of 2.01, a current ratio of 2.81 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $8.06 billion, a P/E ratio of 102.33, a P/E/G ratio of 1.72 and a beta of 1.35. The firm’s 50 day moving average is $84.47 and its 200-day moving average is $76.14.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.30. Qorvo had a net margin of 2.21% and a return on equity of 12.63%. The business had revenue of $818.80 million during the quarter, compared to the consensus estimate of $775.61 million. During the same quarter last year, the company earned $0.87 earnings per share. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. Analysts expect that Qorvo, Inc. will post 4.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Susquehanna reissued a “neutral” rating and set a $95.00 target price (up previously from $90.00) on shares of Qorvo in a research report on Wednesday, July 30th. Loop Capital increased their target price on shares of Qorvo from $75.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, July 30th. Citigroup reissued a “sell” rating on shares of Qorvo in a research report on Tuesday, June 10th. Craig Hallum reissued a “buy” rating on shares of Qorvo in a research report on Wednesday, July 30th. Finally, Piper Sandler increased their target price on shares of Qorvo from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $95.35.

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.