Princeton Capital Management LLC Sells 1,157 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Princeton Capital Management LLC lessened its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 33.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,339 shares of the semiconductor company’s stock after selling 1,157 shares during the period. Princeton Capital Management LLC’s holdings in Qorvo were worth $242,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Qorvo during the 2nd quarter valued at $29,000. EverSource Wealth Advisors LLC boosted its holdings 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 valued at $30,000 after buying an additional 115 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Qorvo by 9,333.3% during the 2nd quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 280 shares in the last quarter. New Millennium Group LLC bought a new stake in shares of Qorvo during the 2nd quarter valued at $34,000. Finally, Blue Trust Inc. raised its position in shares of Qorvo by 241.6% in the 2nd quarter. Blue Trust Inc. now owns 345 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 244 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on QRVO. The Goldman Sachs Group lifted their price target on Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Susquehanna lowered their price target on Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Rosenblatt Securities lifted their price target on Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Raymond James lowered Qorvo from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Finally, Benchmark lowered Qorvo from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Two research 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 presently has a consensus rating of “Hold” and an average target price of $102.88.

Qorvo Trading Up 1.1 %

NASDAQ QRVO opened at $66.32 on Tuesday. Qorvo, Inc. has a 52 week low of $65.35 and a 52 week high of $130.99. The company has a quick ratio of 1.38, a current ratio of 1.90 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $93.20 and a 200-day moving average price of $103.96.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 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 firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm earned $1.99 EPS. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, analysts predict that Qorvo, Inc. will post 3.37 EPS for the current year.

Insider Activity

In related news, VP Gina Harrison sold 689 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $107.67, for a total transaction of $74,184.63. Following the completion of the transaction, the vice president now directly owns 21,601 shares in the company, valued at approximately $2,325,779.67. The trade was a 3.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.46% of the company’s stock.

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.