Clear Harbor Asset Management LLC Sells 1,086 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Clear Harbor Asset Management LLC reduced its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 3.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 27,164 shares of the semiconductor company’s stock after selling 1,086 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Qorvo were worth $3,059,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Highland Capital Management LLC boosted its holdings in shares of Qorvo by 48.9% during the 4th quarter. Highland Capital Management LLC now owns 42,790 shares of the semiconductor company’s stock worth $4,819,000 after buying an additional 14,060 shares during the period. Schechter Investment Advisors LLC bought a new stake in shares of Qorvo during the 4th quarter worth $233,000. Assenagon Asset Management S.A. boosted its holdings in shares of Qorvo by 201.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 405,143 shares of the semiconductor company’s stock worth $45,623,000 after buying an additional 270,745 shares during the period. Artemis Investment Management LLP boosted its holdings in Qorvo by 33.0% in the 4th quarter. Artemis Investment Management LLP now owns 384,710 shares of the semiconductor company’s stock valued at $43,321,000 after purchasing an additional 95,481 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in Qorvo by 298.9% in the 4th quarter. SG Americas Securities LLC now owns 17,803 shares of the semiconductor company’s stock valued at $2,005,000 after purchasing an additional 13,340 shares during the period. 88.57% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Gina Harrison sold 354 shares of Qorvo stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $40,356.00. Following the transaction, the vice president now owns 18,442 shares of the company’s stock, valued at approximately $2,102,388. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Qorvo news, SVP Paul J. Fego sold 3,027 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $345,078.00. Following the transaction, the senior vice president now directly owns 29,705 shares of the company’s stock, valued at approximately $3,386,370. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Gina Harrison sold 354 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $40,356.00. Following the completion of the transaction, the vice president now directly owns 18,442 shares in the company, valued at $2,102,388. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,381 shares of company stock valued at $745,434. 0.43% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Morgan Stanley raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $120.00 to $134.00 in a report on Friday, December 8th. JPMorgan Chase & Co. increased their price target on shares of Qorvo from $95.00 to $105.00 and gave the company an “underweight” rating in a report on Thursday, February 1st. Rosenblatt Securities increased their price target on shares of Qorvo from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, February 1st. Piper Sandler reduced their price target on shares of Qorvo from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, February 1st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $125.00 price target on shares of Qorvo in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Qorvo presently has an average rating of “Hold” and an average price target of $111.17.

Qorvo Price Performance

Shares of Qorvo stock traded up $0.23 during mid-day trading on Thursday, reaching $114.83. 1,142,336 shares of the stock were exchanged, compared to its average volume of 1,323,835. The company has a market cap of $11.09 billion, a price-to-earnings ratio of -53.41, a price-to-earnings-growth ratio of 1.17 and a beta of 1.56. The company has a current ratio of 1.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.43. The firm has a 50-day simple moving average of $111.73 and a 200 day simple moving average of $102.55. Qorvo, Inc. has a fifty-two week low of $80.62 and a fifty-two week high of $121.65.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.47. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1 billion. Qorvo had a negative net margin of 6.11% and a positive return on equity of 10.41%. On average, sell-side analysts predict that Qorvo, Inc. will post 4.95 EPS for the current fiscal year.

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.