Richardson Financial Services Inc. Invests $463,000 in Qorvo, Inc. (NASDAQ:QRVO)

Richardson Financial Services Inc. bought a new stake in Qorvo, Inc. (NASDAQ:QRVO) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,115 shares of the semiconductor company’s stock, valued at approximately $463,000.

A number of other large investors have also recently bought and sold shares of QRVO. GAMMA Investing LLC purchased a new stake in Qorvo in the fourth quarter valued at approximately $104,000. Quadrant Capital Group LLC lifted its holdings in Qorvo by 18.7% in the fourth quarter. Quadrant Capital Group LLC now owns 951 shares of the semiconductor company’s stock valued at $107,000 after acquiring an additional 150 shares during the period. Wahed Invest LLC lifted its holdings in Qorvo by 7.5% in the third quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company’s stock valued at $147,000 after acquiring an additional 108 shares during the period. William Blair Investment Management LLC acquired a new position in Qorvo in the third quarter valued at approximately $203,000. Finally, Bleakley Financial Group LLC acquired a new position in Qorvo in the fourth quarter valued at approximately $204,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Trading Down 0.9 %

Qorvo stock traded down $0.98 during midday trading on Friday, reaching $112.38. 1,408,227 shares of the stock traded hands, compared to its average volume of 1,263,018. The company has a 50-day simple moving average of $104.15 and a two-hundred day simple moving average of $107.67. Qorvo, Inc. has a 12-month low of $80.62 and a 12-month high of $121.65. The firm has a market cap of $10.75 billion, a PE ratio of -153.95, a price-to-earnings-growth ratio of 1.09 and a beta of 1.44. The company has a current ratio of 1.99, a quick ratio of 1.41 and a debt-to-equity ratio of 0.44.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. The company had revenue of $941.00 million for the quarter, compared to analyst estimates of $927.24 million. Qorvo had a positive return on equity of 13.43% and a negative net margin of 1.86%. Qorvo’s revenue for the quarter was up 48.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 EPS. Research analysts expect that Qorvo, Inc. will post 5.16 earnings per share for the current fiscal year.

Insider Transactions at Qorvo

In other Qorvo news, Director John R. Harding sold 941 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $97.36, for a total value of $91,615.76. Following the completion of the sale, the director now owns 6,950 shares in the company, valued at $676,652. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, SVP Paul J. Fego sold 2,132 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total transaction of $211,728.92. Following the transaction, the senior vice president now owns 25,201 shares of the company’s stock, valued at $2,502,711.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John R. Harding sold 941 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $97.36, for a total value of $91,615.76. Following the sale, the director now owns 6,950 shares in the company, valued at $676,652. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,372 shares of company stock valued at $4,517,858. Corporate insiders own 0.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on QRVO shares. Barclays reduced their target price on Qorvo from $110.00 to $100.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. The Goldman Sachs Group reduced their target price on Qorvo from $117.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. JPMorgan Chase & Co. reduced their target price on Qorvo from $105.00 to $100.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. StockNews.com downgraded Qorvo from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. Finally, Mizuho reduced their target price on Qorvo from $115.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $110.83.

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.