Clear Harbor Asset Management LLC Has $3.22 Million Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Clear Harbor Asset Management LLC boosted its position in Qorvo, Inc. (NASDAQ:QRVO) by 6.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 31,155 shares of the semiconductor company’s stock after acquiring an additional 1,758 shares during the period. Clear Harbor Asset Management LLC’s holdings in Qorvo were worth $3,218,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of QRVO. Mather Group LLC. increased its holdings in shares of Qorvo by 5.6% in the second quarter. Mather Group LLC. now owns 1,812 shares of the semiconductor company’s stock valued at $208,000 after purchasing an additional 96 shares during 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 buying an additional 107 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Qorvo by 81.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 115 shares during the period. American Trust lifted its position in Qorvo by 5.8% during the second 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 last quarter. Finally, Empirical Finance LLC boosted its holdings in shares of Qorvo by 3.2% during the first quarter. Empirical Finance LLC now owns 3,768 shares of the semiconductor company’s stock worth $433,000 after acquiring an additional 117 shares during the period. Institutional investors own 88.57% of the company’s stock.

Qorvo Stock Performance

NASDAQ:QRVO opened at $99.01 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.95 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $9.41 billion, a PE ratio of -135.63, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45. Qorvo, Inc. has a twelve month low of $80.62 and a twelve month high of $130.99. The stock’s 50-day simple moving average is $105.32 and its 200 day simple moving average is $108.20.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.16. The company had revenue of $886.70 million for the quarter, compared to analyst estimates of $851.95 million. Qorvo had a negative net margin of 0.66% and a positive return on equity of 14.92%. The firm’s revenue was up 36.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.03 EPS. On average, analysts anticipate that Qorvo, Inc. will post 4.84 EPS for the current fiscal year.

Insider Transactions at Qorvo

In related news, VP Gina Harrison sold 689 shares of the business’s stock in a transaction 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 in the company, valued at $2,325,779.67. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

QRVO has been the topic of a number of recent research reports. TD Cowen upgraded Qorvo to a “hold” rating in a research note on Monday, September 16th. Rosenblatt Securities lifted their target price on Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Needham & Company LLC upped their price target on shares of Qorvo from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Piper Sandler dropped their price objective on shares of Qorvo from $120.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Raymond James increased their target price on shares of Qorvo from $115.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $119.86.

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.