Chicago Partners Investment Group LLC Has $280,000 Stake in Qorvo, Inc. (NASDAQ:QRVO)

Chicago Partners Investment Group LLC raised its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 7.5% during the third quarter, HoldingsChannel.com reports. The fund owned 2,789 shares of the semiconductor company’s stock after buying an additional 194 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Qorvo were worth $280,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Bessemer Group Inc. increased its stake in shares of Qorvo by 1,361.9% in the 1st quarter. Bessemer Group Inc. now owns 13,596 shares of the semiconductor company’s stock valued at $1,562,000 after acquiring an additional 12,666 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Qorvo by 44.4% during the first quarter. Daiwa Securities Group Inc. now owns 13,247 shares of the semiconductor company’s stock valued at $1,521,000 after purchasing an additional 4,072 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Qorvo by 23.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 370,200 shares of the semiconductor company’s stock worth $42,510,000 after purchasing an additional 71,200 shares in the last quarter. APG Asset Management N.V. grew its stake in shares of Qorvo by 21.9% in the 2nd quarter. APG Asset Management N.V. now owns 101,243 shares of the semiconductor company’s stock valued at $10,962,000 after buying an additional 18,178 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Qorvo in the 1st quarter valued at about $811,000. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Qorvo

In other news, VP Gina Harrison sold 689 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the completion of the sale, the vice president now owns 21,601 shares in the company, valued at $2,325,779.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Piper Sandler cut their price target on Qorvo from $120.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Barclays lowered their target price on Qorvo from $120.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 30th. Rosenblatt Securities lifted their price target on shares of Qorvo from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Morgan Stanley downgraded shares of Qorvo from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $130.00 to $120.00 in a report on Friday, October 11th. Finally, Susquehanna dropped their price objective 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. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Qorvo has a consensus rating of “Hold” and an average target price of $104.75.

Qorvo Stock Performance

Shares of Qorvo stock opened at $71.80 on Wednesday. The business’s fifty day simple moving average is $100.75 and its 200 day simple moving average is $106.68. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. Qorvo, Inc. has a 12 month low of $70.39 and a 12 month high of $130.99. The firm has a market capitalization of $6.79 billion, a P/E ratio of -49.18, a price-to-earnings-growth ratio of 4.23 and a beta of 1.49.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.03. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.99 EPS. As a group, analysts anticipate that Qorvo, Inc. will post 4.59 EPS for the current 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.