Entropy Technologies LP Increases Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

Entropy Technologies LP grew its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 148.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,192 shares of the semiconductor company's stock after purchasing an additional 34,749 shares during the quarter. Entropy Technologies LP owned approximately 0.06% of Qorvo worth $4,069,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Larson Financial Group LLC lifted its position in shares of Qorvo by 163.4% in 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. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Qorvo in the 3rd quarter valued at $41,000. Farther Finance Advisors LLC boosted its stake in Qorvo by 33.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company's stock worth $43,000 after purchasing an additional 104 shares during the last quarter. Versant Capital Management Inc boosted its stake in Qorvo by 89.7% during the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company's stock worth $42,000 after purchasing an additional 286 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Qorvo by 33.8% during the third quarter. UMB Bank n.a. now owns 736 shares of the semiconductor company's stock worth $76,000 after buying an additional 186 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on QRVO shares. UBS Group lowered their price target on shares of Qorvo from $115.00 to $90.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 30th. StockNews.com upgraded Qorvo from a "hold" rating to a "buy" rating in a report on Wednesday, January 29th. TD Cowen cut their price target on Qorvo from $125.00 to $85.00 and set a "hold" rating for the company in a report on Wednesday, October 30th. Needham & Company LLC reissued a "buy" rating and set a $100.00 price objective on shares of Qorvo in a research note on Wednesday, January 29th. Finally, Loop Capital raised their target price on Qorvo from $80.00 to $90.00 and gave the stock a "hold" rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $95.84.

Qorvo Stock Up 0.5 %

Shares of NASDAQ QRVO traded up $0.35 during midday trading on Wednesday, hitting $77.01. The company's stock had a trading volume of 1,426,631 shares, compared to its average volume of 3,314,948. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of 275.04, a price-to-earnings-growth ratio of 15.93 and a beta of 1.41. The business's fifty day simple moving average is $75.56 and its two-hundred day simple moving average is $88.78. Qorvo, Inc. has a 1 year low of $64.54 and a 1 year high of $130.99.

Insiders Place Their Bets

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total value of $283,756.75. Following 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 available at this link. Insiders own 0.46% of the company's stock.

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.