Brooklyn Investment Group Buys Shares of 933 Qorvo, Inc. (NASDAQ:QRVO)

Brooklyn Investment Group purchased a new position in Qorvo, Inc. (NASDAQ:QRVO) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 933 shares of the semiconductor company’s stock, valued at approximately $96,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Qorvo during the 2nd quarter valued at about $29,000. EverSource Wealth Advisors LLC lifted its stake in shares of Qorvo by 81.0% in the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after buying an additional 115 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Qorvo by 9,333.3% during the second quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 280 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Qorvo by 163.4% during the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 201 shares in the last quarter. Finally, New Millennium Group LLC purchased a new position in Qorvo in the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Trading Up 0.4 %

Shares of QRVO stock opened at $68.40 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38. The company has a market cap of $6.47 billion, a price-to-earnings ratio of -46.85, a PEG ratio of 5.59 and a beta of 1.49. Qorvo, Inc. has a 1 year low of $64.98 and a 1 year high of $130.99. The firm has a fifty day moving average price of $88.82 and a 200-day moving average price of $102.74.

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

Insider Buying and Selling

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 sale, the vice president now owns 21,601 shares of the company’s stock, valued at approximately $2,325,779.67. This trade represents a 3.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on QRVO. StockNews.com downgraded Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Loop Capital started coverage on Qorvo in a research report on Monday, November 11th. They set a “hold” rating and a $73.00 price objective on the stock. The Goldman Sachs Group boosted their target price on Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lowered their target price on shares of Qorvo from $115.00 to $95.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Finally, Rosenblatt Securities lifted their price target on shares of Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Qorvo has a consensus rating of “Hold” and an average target price of $102.88.

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.