50,000 Shares in Qorvo, Inc. (NASDAQ:QRVO) Acquired by Paloma Partners Management Co

Paloma Partners Management Co bought a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 50,000 shares of the semiconductor company’s stock, valued at approximately $5,165,000. Paloma Partners Management Co owned approximately 0.05% of Qorvo as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Qorvo during the second quarter valued at approximately $29,000. EverSource Wealth Advisors LLC boosted its position in 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 acquiring an additional 115 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Qorvo by 9,333.3% in the 2nd quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 280 shares during the period. Larson Financial Group LLC raised its position in shares of Qorvo by 163.4% in the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 201 shares in the last quarter. Finally, New Millennium Group LLC bought a new position in shares of Qorvo in the 2nd quarter worth $34,000. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

QRVO has been the topic of several analyst reports. Needham & Company LLC assumed coverage on Qorvo in a research note on Monday, October 28th. They issued a “buy” rating and a $135.00 target price on the stock. JPMorgan Chase & Co. cut their price objective on shares of Qorvo from $115.00 to $95.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Benchmark cut shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Piper Sandler cut their price target on shares of Qorvo from $120.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, Raymond James lowered Qorvo from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Qorvo has an average rating of “Hold” and a consensus target price of $102.88.

Insider Buying and Selling at Qorvo

In related news, VP Gina Harrison sold 689 shares of Qorvo stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $107.67, for a total transaction of $74,184.63. Following the completion of the transaction, the vice president now directly owns 21,601 shares in the company, valued at approximately $2,325,779.67. This trade represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is owned by corporate insiders.

Qorvo Price Performance

Shares of NASDAQ:QRVO opened at $69.05 on Monday. Qorvo, Inc. has a twelve month low of $64.98 and a twelve month high of $130.99. The company’s 50 day moving average is $86.84 and its 200 day moving average is $102.08. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. The company has a market cap of $6.53 billion, a PE ratio of -47.29, a price-to-earnings-growth ratio of 5.53 and a beta of 1.49.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, beating 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 period in the prior year, the firm earned $1.99 EPS. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, sell-side analysts forecast that Qorvo, Inc. will post 3.37 EPS for the current year.

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.