Hanson & Doremus Investment Management Has $374,000 Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Hanson & Doremus Investment Management decreased its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 37.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,350 shares of the semiconductor company’s stock after selling 3,193 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Qorvo were worth $374,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QRVO. Farther Finance Advisors LLC lifted its stake in shares of Qorvo by 33.7% in the third 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 shares of 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 acquiring an additional 107 shares during the period. American Trust lifted its position in shares of Qorvo by 5.8% in the 2nd quarter. American Trust now owns 2,110 shares of the semiconductor company’s stock worth $245,000 after acquiring an additional 115 shares during the period. Verdence Capital Advisors LLC grew its holdings in shares of Qorvo by 3.7% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,884 shares of the semiconductor company’s stock worth $401,000 after purchasing an additional 140 shares in the last quarter. Finally, Narwhal Capital Management increased its position in shares of Qorvo by 7.7% during the third quarter. Narwhal Capital Management now owns 2,240 shares of the semiconductor company’s stock valued at $231,000 after purchasing an additional 160 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Insider Transactions at Qorvo

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total value of $283,756.75. Following the transaction, the senior vice president now directly owns 30,261 shares of the company’s stock, valued at approximately $2,122,809.15. This trade represents a 11.79 % 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 the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Qorvo Price Performance

Shares of NASDAQ QRVO opened at $86.03 on Thursday. Qorvo, Inc. has a 1-year low of $64.54 and a 1-year high of $130.99. The company has a 50-day moving average of $73.41 and a two-hundred day moving average of $91.84. The company has a quick ratio of 1.38, a current ratio of 1.90 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 firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. Qorvo’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.99 EPS. On average, equities research analysts expect that Qorvo, Inc. will post 3.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

QRVO has been the subject of several research reports. BNP Paribas cut Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 target price for the company. in a research report on Wednesday, October 30th. Benchmark reiterated a “hold” rating on shares of Qorvo in a research report on Wednesday. UBS Group lowered their target price 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. Raymond James cut shares of Qorvo from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Finally, Bank of America lowered their price objective on Qorvo from $115.00 to $80.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $95.84.

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.