Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC decreased its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 18.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,330 shares of the semiconductor company’s stock after selling 5,825 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Qorvo were worth $1,771,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC boosted its stake in Qorvo by 163.4% during the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 201 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Qorvo during the third quarter worth about $41,000. Farther Finance Advisors LLC grew its stake in Qorvo by 33.7% in the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 104 shares in the last quarter. Versant Capital Management Inc increased its holdings in Qorvo by 89.7% in the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 286 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in Qorvo by 33.8% during the third quarter. UMB Bank n.a. now owns 736 shares of the semiconductor company’s stock valued at $76,000 after buying an additional 186 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Trading Up 14.4 %

Shares of QRVO stock opened at $84.21 on Tuesday. Qorvo, Inc. has a 1 year low of $64.54 and a 1 year high of $130.99. The stock has a fifty day moving average of $70.40 and a two-hundred day moving average of $93.30. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.03. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.99 earnings per share. Equities analysts forecast that Qorvo, Inc. will post 3.37 earnings per share for the current fiscal year.

Insider Activity at Qorvo

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $70.15, for a total value of $283,756.75. Following the completion of the sale, the senior vice president now directly owns 30,261 shares of the company’s stock, valued at approximately $2,122,809.15. This represents a 11.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on QRVO shares. Raymond James lowered Qorvo from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Mizuho decreased their price objective on shares of Qorvo from $98.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. The Goldman Sachs Group dropped their target price on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Craig Hallum decreased their price target on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Benchmark lowered shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $98.47.

Qorvo Company 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.