Allworth Financial LP Has $90,000 Stake in Qorvo, Inc. (NASDAQ:QRVO)

Allworth Financial LP decreased its position in Qorvo, Inc. (NASDAQ:QRVO) by 43.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 798 shares of the semiconductor company’s stock after selling 618 shares during the period. Allworth Financial LP’s holdings in Qorvo were worth $90,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Highland Capital Management LLC grew its position in shares of Qorvo by 48.9% in the fourth quarter. Highland Capital Management LLC now owns 42,790 shares of the semiconductor company’s stock valued at $4,819,000 after purchasing an additional 14,060 shares during the last quarter. SG Americas Securities LLC grew its position in Qorvo by 298.9% during the fourth quarter. SG Americas Securities LLC now owns 17,803 shares of the semiconductor company’s stock worth $2,005,000 after buying an additional 13,340 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Qorvo by 4.9% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 8,464 shares of the semiconductor company’s stock worth $808,000 after buying an additional 394 shares in the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in Qorvo during the third quarter worth approximately $389,000. Finally, FMR LLC grew its position in Qorvo by 7.6% during the third quarter. FMR LLC now owns 680,516 shares of the semiconductor company’s stock worth $64,969,000 after buying an additional 48,125 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Rosenblatt Securities increased their price target 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 reissued a “buy” rating and set a $125.00 price target on shares of Qorvo in a research report on Thursday, February 1st. Susquehanna reissued a “neutral” rating and set a $100.00 price target on shares of Qorvo in a research report on Monday, April 8th. Piper Sandler reduced their price target on Qorvo from $120.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday, February 1st. Finally, Barclays raised their target price on Qorvo from $95.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $111.53.

Qorvo Stock Down 3.8 %

Shares of QRVO opened at $111.36 on Friday. Qorvo, Inc. has a 52 week low of $80.62 and a 52 week high of $121.65. The company has a current ratio of 1.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.43. The stock has a fifty day moving average of $113.89 and a 200-day moving average of $103.98.

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

Insider Activity

In related news, VP Gina Harrison sold 354 shares of the firm’s stock in a transaction on 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 transaction, the vice president now directly owns 18,442 shares of the company’s stock, valued at approximately $2,102,388. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Gina Harrison sold 354 shares of the firm’s stock in a transaction on 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 transaction, the vice president now directly owns 18,442 shares of the company’s stock, valued at approximately $2,102,388. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Steven E. Creviston sold 3,000 shares of the firm’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 transaction, the senior vice president now directly owns 77,552 shares of the company’s stock, valued at $9,306,240. 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. Insiders own 0.43% 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.