Oak Thistle LLC Cuts Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Oak Thistle LLC cut its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 85.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,979 shares of the semiconductor company's stock after selling 18,057 shares during the quarter. Oak Thistle LLC's holdings in Qorvo were worth $208,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on QRVO shares. Raymond James lowered shares of Qorvo from an "outperform" rating to a "market perform" rating in a report on Wednesday, October 30th. StockNews.com lowered Qorvo from a "buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Barclays dropped their price objective on Qorvo from $90.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Friday. JPMorgan Chase & Co. reduced their target price on shares of Qorvo from $115.00 to $95.00 and set an "underweight" rating for the company in a report on Wednesday, October 30th. Finally, BNP Paribas cut shares of Qorvo from an "outperform" rating to a "neutral" rating and set a $80.00 price target on the stock. in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $98.47.

Qorvo Stock Performance

QRVO traded up $10.62 on Friday, reaching $84.21. 10,024,590 shares of the stock were exchanged, compared to its average volume of 3,729,674. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38. The company's 50-day moving average price is $70.09 and its 200 day moving average price is $93.87. The firm has a market capitalization of $7.96 billion, a PE ratio of -57.68, a PEG ratio of 5.74 and a beta of 1.40. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $130.99.

Qorvo (NASDAQ:QRVO - Get Free Report) 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. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the company posted $1.99 earnings per share. The company's revenue was down 5.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Qorvo, Inc. will post 3.37 EPS for the current fiscal year.

Insider Activity

In related news, SVP Philip Chesley sold 4,045 shares of the business's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total transaction of $283,756.75. Following the completion of the transaction, the senior vice president now directly owns 30,261 shares in the company, valued at $2,122,809.15. The trade was a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.