CENTRAL TRUST Co Sells 155 Shares of Qorvo, Inc. (NASDAQ:QRVO)

CENTRAL TRUST Co reduced its stake in Qorvo, Inc. (NASDAQ:QRVO) by 38.6% during the 4th quarter, Holdings Channel reports. The fund owned 247 shares of the semiconductor company’s stock after selling 155 shares during the period. CENTRAL TRUST Co’s holdings in Qorvo were worth $28,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of QRVO. Wahed Invest LLC lifted its holdings in shares of Qorvo by 7.5% during the 3rd quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company’s stock worth $147,000 after acquiring an additional 108 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of Qorvo by 1.5% in the 3rd quarter. Teacher Retirement System of Texas now owns 7,669 shares of the semiconductor company’s stock valued at $732,000 after purchasing an additional 116 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Qorvo by 106.4% in the 1st quarter. Parkside Financial Bank & Trust now owns 225 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 116 shares during the last quarter. Cetera Advisor Networks LLC raised its holdings in shares of Qorvo by 2.1% during the 4th quarter. Cetera Advisor Networks LLC now owns 6,088 shares of the semiconductor company’s stock worth $552,000 after buying an additional 123 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in shares of Qorvo by 0.5% during the 2nd quarter. LPL Financial LLC now owns 27,262 shares of the semiconductor company’s stock worth $2,571,000 after buying an additional 127 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Steven E. Creviston sold 3,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $120.00, for a total transaction of $360,000.00. Following the transaction, the senior vice president now directly owns 77,552 shares of the company’s stock, valued at approximately $9,306,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Gina Harrison sold 354 shares of the business’s 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 completion of the sale, the vice president now directly owns 18,442 shares in the company, valued at $2,102,388. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Steven E. Creviston sold 3,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $120.00, for a total value of $360,000.00. Following the sale, the senior vice president now directly owns 77,552 shares of the company’s stock, valued at approximately $9,306,240. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,381 shares of company stock valued at $745,434. Company insiders own 0.43% of the company’s stock.

Qorvo Price Performance

NASDAQ QRVO opened at $116.49 on Wednesday. Qorvo, Inc. has a one year low of $80.62 and a one year high of $121.65. The stock has a 50-day moving average of $113.26 and a 200 day moving average of $103.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.33 and a current ratio of 1.90. The company has a market capitalization of $11.25 billion, a price-to-earnings ratio of -54.18, a PEG ratio of 0.88 and a beta of 1.56.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on QRVO. The Goldman Sachs Group upped their price objective on shares of Qorvo from $104.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. StockNews.com downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Barclays raised their price objective on Qorvo from $95.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, January 16th. Craig Hallum boosted their price objective on Qorvo from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, Raymond James increased their target price on Qorvo from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Qorvo has a consensus rating of “Hold” and a consensus target price of $111.53.

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.