Leeward Investments LLC MA Has $12.11 Million Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Leeward Investments LLC MA decreased its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 20.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,249 shares of the semiconductor company’s stock after selling 30,361 shares during the quarter. Leeward Investments LLC MA’s holdings in Qorvo were worth $12,112,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of QRVO. Mather Group LLC. increased its holdings in shares of Qorvo by 5.6% in the 2nd quarter. Mather Group LLC. now owns 1,812 shares of the semiconductor company’s stock valued at $208,000 after purchasing an additional 96 shares during the period. Farther Finance Advisors LLC increased its stake in Qorvo by 33.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 104 shares during the period. V Square Quantitative Management LLC lifted its position in Qorvo by 5.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company’s stock worth $231,000 after buying an additional 107 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Qorvo by 81.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 115 shares during the period. Finally, American Trust grew its holdings in shares of Qorvo by 5.8% during the 2nd quarter. American Trust now owns 2,110 shares of the semiconductor company’s stock valued at $245,000 after acquiring an additional 115 shares in the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Price Performance

Shares of NASDAQ:QRVO opened at $72.86 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.90 and a debt-to-equity ratio of 0.45. The business has a 50 day moving average price of $99.96 and a 200 day moving average price of $106.44. The company has a market cap of $6.89 billion, a price-to-earnings ratio of -49.90, a PEG ratio of 5.72 and a beta of 1.49. Qorvo, Inc. has a twelve month low of $70.39 and a twelve month high of $130.99.

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

Insider Transactions at Qorvo

In related news, VP Gina Harrison sold 689 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $107.67, for a total transaction of $74,184.63. Following the transaction, the vice president now directly owns 21,601 shares in the company, valued at $2,325,779.67. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Piper Sandler cut their price objective on Qorvo from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Rosenblatt Securities lifted their price target on Qorvo from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Needham & Company LLC assumed coverage on shares of Qorvo in a research report on Monday, October 28th. They set a “buy” rating and a $135.00 price objective on the stock. Susquehanna reduced their target price on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Finally, UBS Group dropped their price target on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Qorvo has a consensus rating of “Hold” and a consensus price target of $104.75.

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.