Chevy Chase Trust Holdings LLC Lowers Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Chevy Chase Trust Holdings LLC reduced its stake in Qorvo, Inc. (NASDAQ:QRVO) by 1.2% during the 4th quarter, HoldingsChannel reports. The firm owned 54,554 shares of the semiconductor company’s stock after selling 655 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Qorvo were worth $6,143,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of QRVO. Parkside Financial Bank & Trust boosted its stake in shares of Qorvo by 106.4% in the first quarter. Parkside Financial Bank & Trust now owns 225 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 116 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new stake in shares of Qorvo in the fourth quarter valued at approximately $34,000. International Assets Investment Management LLC purchased a new stake in shares of Qorvo in the first quarter valued at approximately $40,000. RVW Wealth LLC purchased a new stake in shares of Qorvo in the third quarter valued at approximately $53,000. Finally, Providence Capital Advisors LLC boosted its stake in shares of Qorvo by 10,057.1% in the first quarter. Providence Capital Advisors LLC now owns 5,688 shares of the semiconductor company’s stock valued at $56,000 after buying an additional 5,632 shares in the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

QRVO has been the topic of a number of analyst reports. Raymond James lifted their price target on Qorvo from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. The Goldman Sachs Group boosted their target price on Qorvo from $104.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Rosenblatt Securities boosted their target price on Qorvo from $95.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Needham & Company LLC reiterated a “buy” rating and set a $125.00 target price on shares of Qorvo in a research report on Thursday, February 1st. Finally, JPMorgan Chase & Co. boosted their target price on Qorvo from $95.00 to $105.00 and gave the stock an “underweight” rating in a research report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Qorvo has a consensus rating of “Hold” and an average price target of $111.53.

Qorvo Stock Performance

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

Qorvo (NASDAQ:QRVO) last released its earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 EPS 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 analyst estimates of $1 billion. Qorvo had a positive return on equity of 10.41% and a negative net margin of 6.11%. As a group, analysts predict that Qorvo, Inc. will post 4.95 earnings per share for the current fiscal year.

Insider Activity at Qorvo

In related news, SVP Steven E. Creviston sold 3,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $120.00, for a total value of $360,000.00. Following the completion of the transaction, the senior vice president now directly owns 77,552 shares in the company, valued at $9,306,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Qorvo news, VP Gina Harrison sold 354 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Steven E. Creviston sold 3,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $120.00, for a total value of $360,000.00. Following the sale, the senior vice president now owns 77,552 shares of the company’s stock, valued at $9,306,240. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,381 shares of company stock worth $745,434. 0.43% of the stock is currently owned by insiders.

Qorvo 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.