Entropy Technologies LP Has $4.07 Million Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

Entropy Technologies LP raised its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 148.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,192 shares of the semiconductor company’s stock after purchasing an additional 34,749 shares during the quarter. Entropy Technologies LP owned 0.06% of Qorvo worth $4,069,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Empowered Funds LLC boosted its holdings in Qorvo by 64.5% during the fourth quarter. Empowered Funds LLC now owns 18,727 shares of the semiconductor company’s stock valued at $1,310,000 after purchasing an additional 7,340 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Qorvo in the 4th quarter worth approximately $70,000. State of Alaska Department of Revenue boosted its holdings in shares of Qorvo by 179.7% in the 4th quarter. State of Alaska Department of Revenue now owns 53,722 shares of the semiconductor company’s stock worth $3,756,000 after acquiring an additional 34,516 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in shares of Qorvo by 181.9% in the 4th quarter. Yousif Capital Management LLC now owns 38,158 shares of the semiconductor company’s stock worth $2,668,000 after acquiring an additional 24,620 shares in the last quarter. Finally, Ninety One UK Ltd boosted its holdings in shares of Qorvo by 18.8% in the 4th quarter. Ninety One UK Ltd now owns 671,427 shares of the semiconductor company’s stock worth $46,953,000 after acquiring an additional 106,090 shares in the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Philip Chesley sold 4,045 shares of Qorvo stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $70.15, for a total transaction of $283,756.75. Following the completion of the transaction, the senior vice president now owns 30,261 shares in the company, valued at approximately $2,122,809.15. This trade represents a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.46% of the stock is owned by corporate insiders.

Qorvo Price Performance

Shares of NASDAQ QRVO opened at $77.03 on Friday. The stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of 275.11, a PEG ratio of 15.93 and a beta of 1.41. The business has a 50-day moving average of $75.17 and a 200-day moving average of $89.69. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $130.99.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Barclays reduced their target price on Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Bank of America reduced their target price on Qorvo from $115.00 to $80.00 and set an “underperform” rating on the stock in a report on Wednesday, October 30th. UBS Group reduced their target price on Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Loop Capital boosted their price objective on shares of Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Finally, Craig Hallum dropped their price objective on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $95.84.

Qorvo Company 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.