18,982 Shares in Qorvo, Inc. (NASDAQ:QRVO) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 18,982 shares of the semiconductor company’s stock, valued at approximately $1,327,000.

Several other institutional investors and hedge funds have also modified their holdings of QRVO. Rakuten Securities Inc. bought a new stake in shares of Qorvo during the 4th quarter worth about $28,000. Huntington National Bank boosted its stake in Qorvo by 47.1% during the 4th quarter. Huntington National Bank now owns 453 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 145 shares during the period. SBI Securities Co. Ltd. bought a new stake in Qorvo in the 4th quarter valued at $37,000. Versant Capital Management Inc raised its position in shares of Qorvo by 89.7% during the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 286 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of Qorvo by 67.4% during the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Price Performance

Shares of QRVO stock opened at $70.90 on Friday. The firm has a fifty day moving average of $66.44 and a 200-day moving average of $72.92. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 253.21, a price-to-earnings-growth ratio of 15.57 and a beta of 1.38. Qorvo, Inc. has a 12-month low of $49.46 and a 12-month high of $130.99.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.42. Qorvo had a net margin of 0.71% and a return on equity of 12.41%. The firm had revenue of $869.47 million during the quarter, compared to analyst estimates of $850.13 million. During the same period in the prior year, the business earned $1.39 EPS. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. On average, equities research analysts forecast that Qorvo, Inc. will post 4.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on QRVO shares. The Goldman Sachs Group decreased their price target on Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. TD Cowen cut their price objective on Qorvo from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday. Benchmark raised Qorvo from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a report on Wednesday. Loop Capital lowered their price objective on shares of Qorvo from $90.00 to $75.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, Citigroup decreased their price target on shares of Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $91.21.

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.