Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC cut its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 18.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,330 shares of the semiconductor company’s stock after selling 5,825 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Qorvo were worth $1,771,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of QRVO. Farther Finance Advisors LLC increased its position 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 in the last quarter. V Square Quantitative Management LLC grew its stake in Qorvo by 5.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company’s stock valued at $231,000 after acquiring an additional 107 shares during the last quarter. American Trust increased its holdings in Qorvo by 5.8% during the 2nd quarter. American Trust now owns 2,110 shares of the semiconductor company’s stock valued at $245,000 after acquiring an additional 115 shares in the last quarter. Verdence Capital Advisors LLC raised its position in Qorvo by 3.7% during the third quarter. Verdence Capital Advisors LLC now owns 3,884 shares of the semiconductor company’s stock worth $401,000 after acquiring an additional 140 shares during the last quarter. Finally, Narwhal Capital Management lifted its holdings in shares of Qorvo by 7.7% in 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 in the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

QRVO has been the subject of several research reports. TD Cowen cut their price objective on Qorvo from $125.00 to $85.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. Piper Sandler cut their price target on Qorvo from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, October 25th. StockNews.com lowered Qorvo from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Barclays cut their target price on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Loop Capital began coverage on shares of Qorvo in a research note on Monday, November 11th. They set a “hold” rating and a $73.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $98.47.

Qorvo Stock Performance

Shares of Qorvo stock opened at $84.21 on Tuesday. 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 business’s fifty day moving average price is $70.40 and its 200 day moving average price is $93.30. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99.

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

Insider Transactions at Qorvo

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $70.15, for a total value of $283,756.75. Following the completion of the transaction, the senior vice president now owns 30,261 shares in the company, valued at $2,122,809.15. This represents a 11.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.46% of the company’s stock.

Qorvo Company 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.