Xponance Inc. Trims Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

Xponance Inc. lessened its stake in Qorvo, Inc. (NASDAQ:QRVO) by 10.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,644 shares of the semiconductor company’s stock after selling 1,515 shares during the period. Xponance Inc.’s holdings in Qorvo were worth $1,424,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of QRVO. Huntington National Bank grew its position 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 buying an additional 809 shares during the period. BluePath Capital Management LLC acquired a new stake in shares of Qorvo during the 3rd quarter valued at about $133,000. Allworth Financial LP increased its stake in shares of Qorvo by 16.7% in the 3rd quarter. Allworth Financial LP now owns 1,416 shares of the semiconductor company’s stock valued at $135,000 after purchasing an additional 203 shares in the last quarter. Wahed Invest LLC raised its holdings in Qorvo by 7.5% in the 3rd quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 108 shares during the period. Finally, Bleakley Financial Group LLC purchased a new position in Qorvo during the fourth quarter worth approximately $204,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Insider Buying and Selling at Qorvo

In other news, SVP Steven E. Creviston sold 3,000 shares of the stock in a transaction on Friday, March 1st. The stock was 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 directly owns 77,552 shares in the company, valued at approximately $9,306,240. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Steven E. Creviston sold 3,000 shares of the company’s 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 transaction, 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 document filed with the SEC, which is accessible through this hyperlink. Also, VP Gina Harrison sold 354 shares of the stock in a transaction that occurred 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 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. Insiders have sold 6,381 shares of company stock worth $745,434 over the last quarter. 0.43% of the stock is currently owned by company insiders.

Qorvo Stock Up 3.9 %

Qorvo stock opened at $112.15 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.33 and a current ratio of 1.90. The company has a 50-day moving average price of $113.53 and a 200 day moving average price of $104.79. Qorvo, Inc. has a 12-month low of $80.62 and a 12-month high of $121.65.

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

Wall Street Analysts Forecast Growth

QRVO has been the subject of several research analyst reports. The Goldman Sachs Group upped their target price on Qorvo from $104.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Raymond James increased their price objective on shares of Qorvo from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Rosenblatt Securities boosted their target price on shares of Qorvo from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Needham & Company LLC restated a “buy” rating and set a $125.00 price target on shares of Qorvo in a research report on Thursday, February 1st. Finally, Barclays lifted their price objective on Qorvo from $95.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $111.53.

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.