Catalyst Capital Advisors LLC Takes $453,000 Position in Qorvo Inc (NASDAQ:QRVO)

Catalyst Capital Advisors LLC purchased a new stake in Qorvo Inc (NASDAQ:QRVO) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 3,900 shares of the semiconductor company’s stock, valued at approximately $453,000.

Several other large investors have also recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of Qorvo by 7.4% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,452 shares of the semiconductor company’s stock worth $108,000 after acquiring an additional 100 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Qorvo by 2.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 6,447 shares of the semiconductor company’s stock worth $749,000 after acquiring an additional 133 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Qorvo by 0.9% in the fourth quarter. IFP Advisors Inc now owns 17,507 shares of the semiconductor company’s stock worth $2,046,000 after acquiring an additional 150 shares during the last quarter. Advisor Partners LLC grew its stake in shares of Qorvo by 4.9% in the fourth quarter. Advisor Partners LLC now owns 3,490 shares of the semiconductor company’s stock worth $393,000 after acquiring an additional 164 shares during the last quarter. Finally, Advisory Services Network LLC grew its stake in shares of Qorvo by 26.1% in the fourth quarter. Advisory Services Network LLC now owns 792 shares of the semiconductor company’s stock worth $92,000 after acquiring an additional 164 shares during the last quarter. 92.38% of the stock is currently owned by institutional investors.

Several equities research analysts have recently issued reports on QRVO shares. Bank of America raised their price objective on shares of Qorvo from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Craig Hallum raised their price objective on shares of Qorvo from $100.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Canaccord Genuity raised their price objective on shares of Qorvo from $110.00 to $135.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Morgan Stanley raised their price objective on shares of Qorvo from $112.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Finally, Cfra upgraded shares of Qorvo from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $112.37.

In other Qorvo news, VP James L. Klein sold 1,906 shares of Qorvo stock in a transaction on Monday, December 16th. The shares were sold at an average price of $114.76, for a total transaction of $218,732.56. Following the sale, the vice president now owns 45,759 shares in the company, valued at $5,251,302.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan Louise Spradley sold 500 shares of Qorvo stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $101.99, for a total transaction of $50,995.00. Following the sale, the director now owns 9,644 shares in the company, valued at approximately $983,591.56. The disclosure for this sale can be found here. Insiders have sold 3,734 shares of company stock worth $414,692 in the last quarter. Corporate insiders own 0.71% of the company’s stock.

QRVO opened at $106.02 on Friday. Qorvo Inc has a fifty-two week low of $58.52 and a fifty-two week high of $122.37. The company has a debt-to-equity ratio of 0.36, a current ratio of 4.21 and a quick ratio of 3.23. The firm’s fifty day moving average price is $112.11 and its two-hundred day moving average price is $92.83. The company has a market capitalization of $12.63 billion, a P/E ratio of 20.25, a P/E/G ratio of 1.66 and a beta of 1.24.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $1.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.40. Qorvo had a net margin of 11.03% and a return on equity of 14.97%. The firm had revenue of $869.10 million for the quarter, compared to the consensus estimate of $852.62 million. During the same quarter in the previous year, the company earned $1.85 earnings per share. The business’s revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts expect that Qorvo Inc will post 5.57 EPS for the current fiscal year.

Qorvo Company Profile

Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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