NuWave Investment Management LLC Acquires 1,235 Shares of Qorvo, Inc. (NASDAQ:QRVO)

NuWave Investment Management LLC grew its stake in shares of Qorvo, Inc. (NASDAQ:QRVOGet Rating) by 135.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,145 shares of the semiconductor company’s stock after acquiring an additional 1,235 shares during the period. NuWave Investment Management LLC’s holdings in Qorvo were worth $266,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Standard Family Office LLC acquired a new stake in Qorvo during the fourth quarter worth approximately $25,000. Johnson Financial Group Inc. acquired a new stake in Qorvo during the fourth quarter worth approximately $26,000. Clearstead Advisors LLC raised its position in shares of Qorvo by 66.7% in the fourth quarter. Clearstead Advisors LLC now owns 250 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Qorvo in the fourth quarter valued at approximately $42,000. Finally, Lindbrook Capital LLC raised its position in shares of Qorvo by 956.7% in the fourth quarter. Lindbrook Capital LLC now owns 317 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 287 shares in the last quarter. Hedge funds and other institutional investors own 85.87% of the company’s stock.

In related news, Director Jeffery R. Gardner sold 1,000 shares of the company’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $110.57, for a total value of $110,570.00. Following the sale, the director now owns 31,793 shares in the company, valued at approximately $3,515,352.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roderick Nelson sold 4,761 shares of the company’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $104.45, for a total transaction of $497,286.45. Following the completion of the sale, the director now owns 5,595 shares in the company, valued at approximately $584,397.75. The disclosure for this sale can be found here. Insiders have sold 20,070 shares of company stock worth $2,055,769 in the last quarter. Company insiders own 0.52% of the company’s stock.

A number of equities research analysts have recently weighed in on the stock. Susquehanna dropped their price target on shares of Qorvo from $150.00 to $120.00 in a research report on Thursday, May 5th. KGI Securities downgraded shares of Qorvo from an “outperform” rating to a “neutral” rating and set a $140.00 price target for the company. in a research report on Friday, April 1st. Susquehanna Bancshares dropped their price target on shares of Qorvo from $150.00 to $120.00 in a research report on Thursday, May 5th. The Goldman Sachs Group downgraded shares of Qorvo from a “buy” rating to a “neutral” rating and set a $138.00 price target for the company. in a research report on Sunday, March 27th. Finally, StockNews.com upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a research report on Thursday, June 16th. Fourteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $162.50.

Shares of NASDAQ QRVO opened at $95.25 on Thursday. The firm’s 50-day moving average price is $107.49 and its 200-day moving average price is $127.17. Qorvo, Inc. has a 1-year low of $91.91 and a 1-year high of $201.46. The firm has a market capitalization of $10.10 billion, a P/E ratio of 10.30, a P/E/G ratio of 1.54 and a beta of 1.34. The company has a current ratio of 3.63, a quick ratio of 2.51 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVOGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The semiconductor company reported $3.03 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.32. Qorvo had a net margin of 22.24% and a return on equity of 28.07%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business earned $2.59 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities research analysts forecast that Qorvo, Inc. will post 9.65 EPS for the current year.

Qorvo Profile (Get Rating)

Qorvo, Inc develops and commercializes technologies and products for wireless and wired connectivity worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. The company offers integrated modules incorporating switches, power amplifiers, filters, multiplexers and other components, radio frequency (RF) power management integrated circuits, antenna tuners, antenna-plexers, discrete filters and duplexers, discrete switches, and ultra-wideband (UWB) system solutions.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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