Bay Colony Advisory Group Inc d b a Bay Colony Advisors Takes Position in Qorvo, Inc. (NASDAQ:QRVO)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,825 shares of the semiconductor company’s stock, valued at approximately $206,000.

Several other institutional investors have also recently made changes to their positions in the company. Parkside Financial Bank & Trust grew its stake in Qorvo by 106.4% in the first quarter. Parkside Financial Bank & Trust now owns 225 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 116 shares during the last quarter. Resurgent Financial Advisors LLC purchased a new position in Qorvo in the fourth quarter valued at about $34,000. International Assets Investment Management LLC purchased a new position in Qorvo in the first quarter valued at about $40,000. RVW Wealth LLC purchased a new position in Qorvo in the third quarter valued at about $53,000. Finally, Providence Capital Advisors LLC grew its stake in Qorvo by 10,057.1% in the first quarter. Providence Capital Advisors LLC now owns 5,688 shares of the semiconductor company’s stock valued at $56,000 after purchasing an additional 5,632 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Stock Up 1.0 %

Shares of NASDAQ:QRVO opened at $111.15 on Wednesday. Qorvo, Inc. has a 12-month low of $80.62 and a 12-month high of $121.65. The business has a 50 day moving average of $114.00 and a two-hundred day moving average of $104.33. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.90 and a quick ratio of 1.33.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share (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 company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1 billion. As a group, research analysts expect that Qorvo, Inc. will post 4.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Qorvo

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Piper Sandler cut their target price on Qorvo from $120.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, February 1st. StockNews.com lowered Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Craig Hallum boosted their price target on Qorvo from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. The Goldman Sachs Group boosted their price target on Qorvo from $104.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Finally, Needham & Company LLC restated a “buy” rating and set a $125.00 price target on shares of Qorvo in a research note on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $111.53.

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.