Entropy Technologies LP Has $4.07 Million Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Entropy Technologies LP grew its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 148.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,192 shares of the semiconductor company’s stock after acquiring an additional 34,749 shares during the period. Entropy Technologies LP’s holdings in Qorvo were worth $4,069,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Empowered Funds LLC raised its position in shares of Qorvo by 64.5% in the fourth quarter. Empowered Funds LLC now owns 18,727 shares of the semiconductor company’s stock valued at $1,310,000 after buying an additional 7,340 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Qorvo in the fourth quarter valued at approximately $70,000. State of Alaska Department of Revenue raised its position in shares of Qorvo by 179.7% in the fourth quarter. State of Alaska Department of Revenue now owns 53,722 shares of the semiconductor company’s stock valued at $3,756,000 after buying an additional 34,516 shares in the last quarter. Yousif Capital Management LLC raised its position in shares of Qorvo by 181.9% in the fourth quarter. Yousif Capital Management LLC now owns 38,158 shares of the semiconductor company’s stock valued at $2,668,000 after buying an additional 24,620 shares in the last quarter. Finally, Ninety One UK Ltd raised its position in shares of Qorvo by 18.8% in the fourth quarter. Ninety One UK Ltd now owns 671,427 shares of the semiconductor company’s stock valued at $46,953,000 after buying an additional 106,090 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 document filed with the SEC, which is accessible through the SEC website. 0.46% of the stock is currently owned by company insiders.

Qorvo Trading Down 2.4 %

QRVO opened at $77.03 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $130.99. The firm has a market capitalization of $7.19 billion, a PE ratio of 275.11, a P/E/G ratio of 15.93 and a beta of 1.41. The company’s 50-day moving average is $75.17 and its 200 day moving average is $89.69.

Analysts Set New Price Targets

A number of brokerages recently issued reports on QRVO. Barclays decreased their price objective on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. TD Cowen reduced their price objective on shares of Qorvo from $125.00 to $85.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. Benchmark reissued a “hold” rating on shares of Qorvo in a research note on Wednesday, January 29th. Raymond James lowered shares of Qorvo from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus dropped their target price on shares of Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $95.84.

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.