2,818 Shares in Qorvo, Inc. (NASDAQ:QRVO) Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC acquired a new position in Qorvo, Inc. (NASDAQ:QRVO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,818 shares of the semiconductor company’s stock, valued at approximately $317,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. B.O.S.S. Retirement Advisors LLC raised its holdings in Qorvo by 3.8% in the 4th quarter. B.O.S.S. Retirement Advisors LLC now owns 18,796 shares of the semiconductor company’s stock worth $2,117,000 after acquiring an additional 680 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Qorvo in the 4th quarter worth approximately $1,319,000. Bleakley Financial Group LLC purchased a new position in Qorvo in the 4th quarter worth approximately $204,000. Nisa Investment Advisors LLC raised its holdings in Qorvo by 8.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,467 shares of the semiconductor company’s stock worth $278,000 after acquiring an additional 200 shares during the last quarter. Finally, Narwhal Capital Management purchased a new position in Qorvo in the 4th quarter worth approximately $234,000. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Gina Harrison sold 354 shares of the company’s stock in a transaction 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 owns 18,442 shares of the company’s stock, valued at approximately $2,102,388. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Qorvo news, SVP Steven E. Creviston sold 3,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the transaction, the senior vice president now 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 can be accessed through the SEC website. Also, VP Gina Harrison sold 354 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $40,356.00. Following the transaction, the vice president now directly owns 18,442 shares of the company’s stock, valued at approximately $2,102,388. 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.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on QRVO. JPMorgan Chase & Co. boosted their price objective on shares of Qorvo from $95.00 to $105.00 and gave the stock an “underweight” rating in a report on Thursday, February 1st. Barclays boosted their target price on shares of Qorvo from $95.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 16th. Rosenblatt Securities boosted their target price on shares of Qorvo from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Craig Hallum boosted their target price on shares of Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, Piper Sandler decreased their target price on shares of Qorvo from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $111.53.

Qorvo Trading Down 1.9 %

NASDAQ:QRVO opened at $107.84 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.90 and a quick ratio of 1.33. The firm has a market capitalization of $10.41 billion, a price-to-earnings ratio of -50.16, a price-to-earnings-growth ratio of 0.85 and a beta of 1.56. Qorvo, Inc. has a one year low of $80.62 and a one year high of $121.65. The business has a fifty day moving average price of $113.89 and a 200-day moving average price of $104.39.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $1.89 EPS for the quarter, topping 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%. Sell-side analysts forecast that Qorvo, Inc. will post 4.95 EPS 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.