Raymond James Financial Services Advisors Inc. Has $1.41 Million Position in Qorvo, Inc. (NASDAQ:QRVO)

Raymond James Financial Services Advisors Inc. reduced its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 44.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,551 shares of the semiconductor company’s stock after selling 9,884 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Qorvo were worth $1,413,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of research analysts have recently commented on QRVO shares. JPMorgan Chase & Co. lifted their price objective on shares of Qorvo from $95.00 to $105.00 and gave the company an “underweight” rating in a research report on Thursday, February 1st. The Goldman Sachs Group lifted their price objective on shares of Qorvo from $104.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Craig Hallum lifted their price objective on shares of Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Barclays lifted their price objective on shares of Qorvo from $95.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Finally, StockNews.com downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $111.53.

Insider Activity

In other 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 value of $40,356.00. Following the completion of the transaction, the vice president now directly owns 18,442 shares in the company, valued at approximately $2,102,388. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other 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 value of $40,356.00. Following the completion of the transaction, the vice president now directly owns 18,442 shares in the company, valued at approximately $2,102,388. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Paul J. Fego sold 3,027 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 $345,078.00. Following the completion of the transaction, the senior vice president now owns 29,705 shares of the company’s stock, 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 corporate insiders.

Qorvo Stock Performance

NASDAQ QRVO opened at $111.36 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.90 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $10.75 billion, a P/E ratio of -51.80, a P/E/G ratio of 0.87 and a beta of 1.56. Qorvo, Inc. has a 12-month low of $80.62 and a 12-month high of $121.65. The firm has a 50-day moving average price of $113.89 and a two-hundred day moving average price of $103.98.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.47. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1 billion. Qorvo had a negative net margin of 6.11% and a positive return on equity of 10.41%. Analysts anticipate that Qorvo, Inc. will post 4.95 earnings per share for the current year.

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.