Highland Capital Management LLC Raises Position in Qorvo, Inc. (NASDAQ:QRVO)

Highland Capital Management LLC grew its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 48.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,790 shares of the semiconductor company’s stock after purchasing an additional 14,060 shares during the period. Highland Capital Management LLC’s holdings in Qorvo were worth $4,819,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wahed Invest LLC grew its position in Qorvo by 7.5% during the 3rd quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 108 shares during the period. Teacher Retirement System of Texas grew its position in shares of Qorvo by 1.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 7,669 shares of the semiconductor company’s stock valued at $732,000 after acquiring an additional 116 shares during the period. Parkside Financial Bank & Trust grew its position in shares of Qorvo by 106.4% during the 1st quarter. Parkside Financial Bank & Trust now owns 225 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 116 shares during the period. Cetera Advisor Networks LLC grew its position in shares of Qorvo by 2.1% during the 4th quarter. Cetera Advisor Networks LLC now owns 6,088 shares of the semiconductor company’s stock valued at $552,000 after acquiring an additional 123 shares during the period. Finally, LPL Financial LLC boosted its holdings in Qorvo by 0.5% in the 2nd quarter. LPL Financial LLC now owns 27,262 shares of the semiconductor company’s stock worth $2,571,000 after buying an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Insider Activity at Qorvo

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

Qorvo Price Performance

QRVO opened at $114.60 on Thursday. Qorvo, Inc. has a one year low of $80.62 and a one year high of $121.65. The business’s 50 day moving average price is $111.51 and its 200 day moving average price is $102.46. The company has a current ratio of 1.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.43.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.47. Qorvo had a positive return on equity of 10.41% and a negative net margin of 6.11%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1 billion. On average, research analysts forecast that Qorvo, Inc. will post 4.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on QRVO shares. Morgan Stanley upgraded Qorvo from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $120.00 to $134.00 in a research note on Friday, December 8th. Craig Hallum boosted their price objective on Qorvo from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Barclays boosted their price objective on Qorvo from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Rosenblatt Securities boosted their price objective on Qorvo from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Finally, Raymond James boosted their target price on Qorvo from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $111.17.

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.