Thurston Springer Miller Herd & Titak Inc. Invests $29,000 in Qorvo, Inc. (NASDAQ:QRVO)

Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 253 shares of the semiconductor company’s stock, valued at approximately $29,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Park Place Capital Corp boosted its stake in Qorvo by 398.1% during the 1st quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 207 shares during the period. EverSource Wealth Advisors LLC boosted its stake 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 purchasing an additional 115 shares during the period. Riverview Trust Co bought a new stake in Qorvo during the 1st quarter valued at approximately $40,000. Fidelis Capital Partners LLC bought a new stake in Qorvo during the 1st quarter valued at approximately $58,000. Finally, GAMMA Investing LLC bought a new stake in Qorvo during the 4th quarter valued at approximately $104,000. Institutional investors own 88.57% of the company’s stock.

Insider Activity at Qorvo

In related news, CEO Robert A. Bruggeworth sold 15,279 shares of Qorvo stock in a transaction dated 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 sale, the chief executive officer now owns 190,161 shares of the company’s stock, valued at $19,016,100. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Robert A. Bruggeworth sold 22,299 shares of Qorvo stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total transaction of $2,214,513.69. Following the completion of the transaction, the chief executive officer now owns 154,714 shares in the company, valued at $15,364,647.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert A. Bruggeworth sold 15,279 shares of Qorvo stock in a transaction dated 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 transaction, the chief executive officer now owns 190,161 shares of the company’s stock, valued at approximately $19,016,100. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,372 shares of company stock valued at $4,517,858. 0.46% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on QRVO shares. Needham & Company LLC upped their price target on Qorvo from $110.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Benchmark reduced their price target on Qorvo from $136.00 to $128.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. The Goldman Sachs Group raised their price target on Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Rosenblatt Securities raised their price target on Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their price target on Qorvo from $100.00 to $115.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Qorvo currently has a consensus rating of “Hold” and an average target price of $121.00.

Qorvo Stock Down 1.5 %

Shares of NASDAQ:QRVO traded down $1.59 during midday trading on Tuesday, reaching $103.02. The company had a trading volume of 1,296,864 shares, compared to its average volume of 1,383,050. The company has a quick ratio of 1.41, a current ratio of 1.95 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average price is $113.78 and its 200 day moving average price is $110.87. The stock has a market cap of $9.77 billion, a PE ratio of -143.42, a P/E/G ratio of 1.29 and a beta of 1.46. Qorvo, Inc. has a 1-year low of $80.62 and a 1-year 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 business had revenue of $886.70 million for the quarter, compared to the consensus estimate of $851.95 million. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. Qorvo’s quarterly revenue was up 36.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 earnings per share. Research analysts forecast that Qorvo, Inc. will post 5.02 EPS for the current fiscal year.

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.