Cerity Partners LLC Purchases 226 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Cerity Partners LLC increased its position in Qorvo, Inc. (NASDAQ:QRVO) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,444 shares of the semiconductor company’s stock after purchasing an additional 226 shares during the period. Cerity Partners LLC’s holdings in Qorvo were worth $388,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of QRVO. Highland Capital Management LLC lifted its stake 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 buying an additional 14,060 shares in the last quarter. SG Americas Securities LLC lifted its position in Qorvo by 298.9% in the 4th quarter. SG Americas Securities LLC now owns 17,803 shares of the semiconductor company’s stock valued at $2,005,000 after acquiring an additional 13,340 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Qorvo by 4.9% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 8,464 shares of the semiconductor company’s stock valued at $808,000 after purchasing an additional 394 shares during the last quarter. Jackson Creek Investment Advisors LLC bought a new stake in Qorvo during the 3rd quarter worth approximately $389,000. Finally, FMR LLC increased its holdings in Qorvo by 7.6% during the 3rd quarter. FMR LLC now owns 680,516 shares of the semiconductor company’s stock worth $64,969,000 after purchasing an additional 48,125 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Wall Street Analyst Weigh In

QRVO has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on Qorvo from $95.00 to $105.00 and gave the company an “underweight” rating in a research note on Thursday, February 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Qorvo in a research report on Thursday, February 1st. Susquehanna reissued a “neutral” rating and set a $100.00 target price on shares of Qorvo in a research report on Monday, April 8th. Barclays upped 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. Finally, StockNews.com lowered Qorvo from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, ten have issued 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 an average target price of $111.53.

Qorvo Trading Up 1.8 %

Shares of QRVO stock opened at $116.75 on Friday. Qorvo, Inc. has a 52-week low of $80.62 and a 52-week high of $121.65. The business’s fifty day moving average is $113.52 and its 200 day moving average is $104.91. 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 market capitalization of $11.27 billion, a PE ratio of -54.30, a price-to-earnings-growth ratio of 0.86 and a beta of 1.56.

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

Insider Buying and Selling at Qorvo

In other news, SVP Paul J. Fego sold 3,027 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $345,078.00. Following the transaction, the senior vice president now owns 29,705 shares of the company’s stock, valued at approximately $3,386,370. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Qorvo news, VP Gina Harrison sold 354 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $40,356.00. Following the sale, the vice president now owns 18,442 shares in the company, valued at $2,102,388. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Paul J. Fego sold 3,027 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value 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. Insiders sold a total of 6,381 shares of company stock worth $745,434 over the last three months. 0.43% of the stock is owned by insiders.

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.