Cetera Investment Advisers Grows Stake in Qorvo, Inc. (NASDAQ:QRVO)

Cetera Investment Advisers grew its position in Qorvo, Inc. (NASDAQ:QRVO) by 22.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,364 shares of the semiconductor company’s stock after buying an additional 1,892 shares during the quarter. Cetera Investment Advisers’ holdings in Qorvo were worth $725,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Ameriprise Financial Inc. raised its holdings in shares of Qorvo by 102.0% in the fourth quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company’s stock valued at $251,577,000 after acquiring an additional 1,816,811 shares in the last quarter. FIL Ltd raised its holdings in shares of Qorvo by 5.3% in the 4th quarter. FIL Ltd now owns 3,324,241 shares of the semiconductor company’s stock valued at $232,464,000 after purchasing an additional 166,461 shares in the last quarter. Vulcan Value Partners LLC raised its holdings in shares of Qorvo by 53.7% in the 4th quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company’s stock valued at $180,487,000 after purchasing an additional 902,353 shares in the last quarter. Amundi lifted its position in shares of Qorvo by 84.4% in the 4th quarter. Amundi now owns 2,143,858 shares of the semiconductor company’s stock worth $156,673,000 after purchasing an additional 981,519 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Qorvo by 22.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,419,698 shares of the semiconductor company’s stock valued at $99,280,000 after purchasing an additional 264,167 shares in the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Qorvo news, Director John R. Harding sold 1,450 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total value of $101,630.50. Following the sale, the director now directly owns 7,597 shares of the company’s stock, valued at approximately $532,473.73. This represents a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is currently owned by corporate insiders.

Qorvo Trading Down 2.0%

NASDAQ:QRVO opened at $74.60 on Monday. The company has a market capitalization of $6.94 billion, a P/E ratio of 266.43, a PEG ratio of 15.57 and a beta of 1.38. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46. Qorvo, Inc. has a 12 month low of $49.46 and a 12 month high of $130.99. The firm has a fifty day simple moving average of $67.66 and a 200-day simple moving average of $71.48.

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Barclays boosted their price objective on shares of Qorvo from $60.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 30th. TD Cowen reduced their price target on Qorvo from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, April 30th. Needham & Company LLC decreased their price objective on Qorvo from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Stifel Nicolaus set a $75.00 price objective on Qorvo in a research report on Monday, April 28th. Finally, Benchmark upgraded shares of Qorvo from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Qorvo presently has a consensus rating of “Hold” and a consensus price target of $91.21.

About Qorvo

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.