Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management decreased its position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 37.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,350 shares of the semiconductor company's stock after selling 3,193 shares during the quarter. Hanson & Doremus Investment Management's holdings in Qorvo were worth $374,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in QRVO. GDS Wealth Management acquired a new position in Qorvo during the third quarter worth $2,171,000. Robeco Institutional Asset Management B.V. raised its position in shares of Qorvo by 78.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company's stock worth $55,548,000 after purchasing an additional 236,590 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Qorvo in the 3rd quarter valued at about $2,507,000. Quest Partners LLC boosted its holdings in Qorvo by 504.6% in the 3rd quarter. Quest Partners LLC now owns 11,596 shares of the semiconductor company's stock worth $1,198,000 after buying an additional 9,678 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Qorvo during the 3rd quarter worth approximately $1,211,000. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Stock Down 3.2 %

Shares of NASDAQ QRVO traded down $2.72 during mid-day trading on Thursday, hitting $83.31. The company had a trading volume of 1,271,604 shares, compared to its average volume of 3,819,272. The company has a market capitalization of $7.88 billion, a PE ratio of -57.10, a price-to-earnings-growth ratio of 6.98 and a beta of 1.40. The business's 50-day simple moving average is $73.41 and its 200 day simple moving average is $91.84. Qorvo, Inc. has a 1-year low of $64.54 and a 1-year high of $130.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.05 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.99 earnings per share. On average, analysts predict that Qorvo, Inc. will post 3.37 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Philip Chesley sold 4,045 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 30,261 shares of the company's stock, valued at $2,122,809.15. This trade represents a 11.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.46% of the stock is owned by company insiders.

Analyst Ratings Changes

QRVO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on Qorvo from $115.00 to $95.00 and set an "underweight" rating on the stock in a research note on Wednesday, October 30th. Loop Capital upped their target price on shares of Qorvo from $80.00 to $90.00 and gave the stock a "hold" rating in a report on Wednesday. Citigroup decreased their price target on shares of Qorvo from $72.00 to $69.00 and set a "sell" rating on the stock in a research note on Wednesday. Piper Sandler upgraded shares of Qorvo from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $85.00 to $110.00 in a report on Monday. Finally, StockNews.com upgraded Qorvo from a "hold" rating to a "buy" rating in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $95.84.

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.