Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Raymond James & Associates

Raymond James & Associates cut its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 4.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 49,783 shares of the semiconductor company’s stock after selling 2,232 shares during the period. Raymond James & Associates’ holdings in Qorvo were worth $5,606,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of QRVO. Parkside Financial Bank & Trust grew its holdings in 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 purchasing an additional 116 shares during the period. Resurgent Financial Advisors LLC acquired a new stake in Qorvo in the 4th quarter valued at $34,000. Zions Bancorporation N.A. increased its holdings in Qorvo by 3,833.3% in the 1st quarter. Zions Bancorporation N.A. now owns 472 shares of the semiconductor company’s stock worth $59,000 after acquiring an additional 460 shares in the last quarter. RVW Wealth LLC acquired a new position in Qorvo during the third quarter worth $53,000. Finally, Huntington National Bank lifted its holdings in Qorvo by 8,090.0% during the third quarter. Huntington National Bank now owns 819 shares of the semiconductor company’s stock valued at $78,000 after purchasing an additional 809 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Qorvo Stock Performance

Qorvo stock opened at $116.49 on Wednesday. The firm has a 50 day simple moving average of $113.26 and a 200-day simple moving average of $103.73. 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 company has a debt-to-equity ratio of 0.43, a current ratio of 1.90 and a quick ratio of 1.33. Qorvo, Inc. has a 1-year low of $80.62 and a 1-year high of $121.65.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.47. The company 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%. On average, analysts expect that Qorvo, Inc. will post 4.95 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on QRVO shares. Barclays boosted their target price on shares of Qorvo from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Rosenblatt Securities raised their target price on Qorvo from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. StockNews.com downgraded Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $125.00 target price on shares of Qorvo in a research note on Thursday, February 1st. Finally, Piper Sandler dropped their target price on shares of Qorvo from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $111.53.

Insider Transactions at Qorvo

In related news, 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 in the company, valued at approximately $9,306,240. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Steven E. Creviston sold 3,000 shares of Qorvo stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $120.00, for a total value of $360,000.00. Following the completion of the sale, the senior vice president now owns 77,552 shares in the company, valued at approximately $9,306,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Paul J. Fego sold 3,027 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $345,078.00. Following the transaction, the senior vice president now owns 29,705 shares in the company, valued at $3,386,370. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,381 shares of company stock worth $745,434. 0.43% of the stock is currently owned by company 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.