Qorvo, Inc. (NASDAQ:QRVO) Shares Acquired by Bay Colony Advisory Group Inc d b a Bay Colony Advisors

Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 12.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,061 shares of the semiconductor company’s stock after acquiring an additional 236 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Qorvo were worth $239,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Qorvo during the 2nd quarter valued at approximately $29,000. Park Place Capital Corp boosted its stake in Qorvo by 398.1% during the first quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 207 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Qorvo by 81.0% during the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 115 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Qorvo by 9,333.3% during the second quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 280 shares during the last quarter. Finally, Riverview Trust Co purchased a new stake in shares of Qorvo during the first quarter valued at $40,000. 88.57% of the stock is owned by institutional investors and hedge funds.

Qorvo Stock Performance

QRVO opened at $115.52 on Friday. The firm has a market capitalization of $10.96 billion, a P/E ratio of -158.25, a price-to-earnings-growth ratio of 1.34 and a beta of 1.46. The stock’s 50 day moving average price is $115.87 and its two-hundred day moving average price is $111.23. The company has a quick ratio of 1.36, a current ratio of 1.95 and a debt-to-equity ratio of 0.44. Qorvo, Inc. has a 12-month low of $80.62 and a 12-month high of $130.99.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.16. The firm had revenue of $886.70 million for the quarter, compared to analyst estimates of $851.95 million. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. The company’s revenue was up 36.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 EPS. On average, equities analysts forecast that Qorvo, Inc. will post 4.84 earnings per share for the current year.

Insider Buying and Selling at Qorvo

In other Qorvo news, CEO Robert A. Bruggeworth sold 15,279 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $100.00, for a total value of $1,527,900.00. Following the completion of the sale, the chief executive officer now owns 190,161 shares in the company, valued at approximately $19,016,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Raymond James upped their target price on Qorvo from $115.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Needham & Company LLC upped their target price on Qorvo from $110.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Mizuho reduced their price objective on Qorvo from $115.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Piper Sandler reissued a “neutral” rating and issued a $120.00 price objective (up from $105.00) on shares of Qorvo in a research note on Wednesday, July 31st. Finally, TD Cowen increased their price objective on Qorvo from $110.00 to $125.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $121.00.

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.