Vontobel Holding Ltd. Cuts Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

Vontobel Holding Ltd. lessened its stake in Qorvo, Inc. (NASDAQ:QRVO) by 20.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 18,590 shares of the semiconductor company’s stock after selling 4,691 shares during the quarter. Vontobel Holding Ltd.’s holdings in Qorvo were worth $2,093,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QRVO. Parkside Financial Bank & Trust grew its stake 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 last quarter. Resurgent Financial Advisors LLC purchased a new position in Qorvo in the fourth quarter valued at about $34,000. International Assets Investment Management LLC purchased a new position in Qorvo in the first quarter valued at about $40,000. RVW Wealth LLC purchased a new position in Qorvo in the third quarter valued at about $53,000. Finally, Providence Capital Advisors LLC boosted its holdings in Qorvo by 10,057.1% in the first quarter. Providence Capital Advisors LLC now owns 5,688 shares of the semiconductor company’s stock worth $56,000 after acquiring an additional 5,632 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Stock Performance

Qorvo stock opened at $107.84 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.33 and a current ratio of 1.90. Qorvo, Inc. has a 12 month low of $80.62 and a 12 month high of $121.65. The stock’s 50 day simple moving average is $113.89 and its two-hundred day simple moving average is $104.39.

Qorvo (NASDAQ:QRVO) last released 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. Qorvo had a positive return on equity of 10.41% and a negative net margin of 6.11%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1 billion. On average, equities analysts expect that Qorvo, Inc. will post 4.95 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $125.00 price target on shares of Qorvo in a research note on Thursday, February 1st. JPMorgan Chase & Co. boosted their price target on Qorvo from $95.00 to $105.00 and gave the stock an “underweight” rating in a research note on Thursday, February 1st. Craig Hallum boosted their price target on Qorvo from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. The Goldman Sachs Group boosted their price target on Qorvo from $104.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Finally, Raymond James boosted their price target on Qorvo from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $111.53.

Insiders Place Their Bets

In other Qorvo news, SVP Paul J. Fego sold 3,027 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 29,705 shares in the company, valued at approximately $3,386,370. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Qorvo news, SVP Paul J. Fego sold 3,027 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 29,705 shares in the company, valued at approximately $3,386,370. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Gina Harrison sold 354 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $40,356.00. Following the completion of the sale, the vice president now owns 18,442 shares in the company, valued at approximately $2,102,388. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,381 shares of company stock worth $745,434. Corporate insiders own 0.43% of the company’s stock.

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.