Centiva Capital LP Has $1.42 Million Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

Centiva Capital LP raised its position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 338.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,696 shares of the semiconductor company's stock after buying an additional 10,569 shares during the quarter. Centiva Capital LP's holdings in Qorvo were worth $1,415,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in QRVO. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Qorvo during the 2nd quarter worth approximately $29,000. EverSource Wealth Advisors LLC lifted its stake in shares of Qorvo by 81.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 115 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Qorvo by 163.4% during the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 201 shares during the last quarter. New Millennium Group LLC bought a new stake in Qorvo during the 2nd quarter valued at $34,000. Finally, Blue Trust Inc. raised its position in Qorvo by 241.6% during the 2nd quarter. Blue Trust Inc. now owns 345 shares of the semiconductor company's stock valued at $40,000 after purchasing an additional 244 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Barclays decreased their target price on Qorvo from $120.00 to $90.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 30th. Loop Capital assumed coverage on Qorvo in a research report on Monday, November 11th. They set a "hold" rating and a $73.00 target price for the company. Susquehanna decreased their target price on Qorvo from $115.00 to $90.00 and set a "neutral" rating for the company in a research report on Wednesday, October 30th. Piper Sandler reduced their price target on Qorvo from $120.00 to $100.00 and set a "neutral" rating for the company in a research report on Friday, October 25th. Finally, Bank of America reduced their price target on Qorvo from $115.00 to $80.00 and set an "underperform" rating for the company in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $102.88.

Qorvo Trading Down 0.5 %

QRVO traded down $0.35 during trading on Wednesday, hitting $70.08. The company's stock had a trading volume of 1,692,300 shares, compared to its average volume of 1,454,334. The firm's 50 day moving average price is $84.91 and its 200-day moving average price is $101.47. 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 stock has a market cap of $6.62 billion, a PE ratio of -48.00, a PEG ratio of 5.67 and a beta of 1.42. Qorvo, Inc. has a twelve month low of $64.98 and a twelve month high of $130.99.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.03. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The company had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the previous year, the company earned $1.99 EPS. The business's quarterly revenue was down 5.2% compared to the same quarter last year. On average, analysts expect that Qorvo, Inc. will post 3.37 earnings per share for the current year.

Insider Buying and Selling at Qorvo

In other Qorvo news, VP Gina Harrison sold 689 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $107.67, for a total value of $74,184.63. Following the sale, the vice president now directly owns 21,601 shares of the company's stock, valued at $2,325,779.67. This trade represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is currently owned by corporate insiders.

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.