Raymond James Financial Services Advisors Inc. Has $2.67 Million Stake in Qorvo, Inc. (NASDAQ:QRVO)

Raymond James Financial Services Advisors Inc. trimmed its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO – Get Rating) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,490 shares of the semiconductor company’s stock after selling 885 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Qorvo were worth $2,673,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Qorvo by 0.5% during the first quarter. Vanguard Group Inc. now owns 12,196,858 shares of the semiconductor company’s stock worth $1,513,630,000 after buying an additional 58,395 shares during the last quarter. Baupost Group LLC MA grew its position in shares of Qorvo by 11.8% in the first quarter. Baupost Group LLC MA now owns 6,645,712 shares of the semiconductor company’s stock valued at $824,733,000 after purchasing an additional 699,968 shares during the last quarter. State Street Corp increased its stake in shares of Qorvo by 0.3% in the first quarter. State Street Corp now owns 4,801,902 shares of the semiconductor company’s stock worth $595,916,000 after purchasing an additional 16,097 shares during the period. Wellington Management Group LLP lifted its position in shares of Qorvo by 52.6% during the 1st quarter. Wellington Management Group LLP now owns 1,990,306 shares of the semiconductor company’s stock worth $246,997,000 after purchasing an additional 686,046 shares during the last quarter. Finally, LSV Asset Management boosted its stake in Qorvo by 3.0% during the 4th quarter. LSV Asset Management now owns 1,791,794 shares of the semiconductor company’s stock valued at $162,408,000 after purchasing an additional 51,965 shares during the period. 86.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on QRVO shares. KGI Securities upgraded Qorvo from a “neutral” rating to an “outperform” rating in a report on Tuesday, May 9th. Morgan Stanley boosted their price objective on shares of Qorvo from $87.00 to $110.00 and gave the stock an “equal weight” rating in a report on Thursday, February 2nd. Susquehanna increased their target price on shares of Qorvo from $100.00 to $105.00 in a research note on Thursday, May 4th. Cowen boosted their price target on Qorvo from $80.00 to $100.00 and gave the company a “market perform” rating in a research note on Thursday, February 2nd. Finally, Barclays boosted their price target on Qorvo from $85.00 to $110.00 and gave the company an “equal weight” rating in a research note on Monday, January 23rd. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $108.78.

Insider Activity

In other news, SVP Paul J. Fego sold 4,304 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $95.00, for a total value of $408,880.00. Following the transaction, the senior vice president now owns 33,070 shares of the company’s stock, valued at approximately $3,141,650. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Paul J. Fego sold 4,304 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $95.00, for a total value of $408,880.00. Following the transaction, the senior vice president now owns 33,070 shares of the company’s stock, valued at approximately $3,141,650. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert A. Bruggeworth sold 17,063 shares of the stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $90.73, for a total value of $1,548,125.99. Following the completion of the transaction, the chief executive officer now directly owns 190,024 shares in the company, valued at approximately $17,240,877.52. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by company insiders.

Qorvo Stock Up 1.1 %

NASDAQ:QRVO opened at $96.12 on Tuesday. The stock’s fifty day moving average price is $94.98 and its two-hundred day moving average price is $97.32. Qorvo, Inc. has a 52-week low of $75.38 and a 52-week high of $114.59. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.22 and a current ratio of 3.65. The company has a market cap of $9.60 billion, a price-to-earnings ratio of 104.48, a P/E/G ratio of 3.77 and a beta of 1.45.

Qorvo (NASDAQ:QRVO – Get Rating) last posted its quarterly earnings data on Wednesday, May 3rd. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.13. Qorvo had a return on equity of 12.53% and a net margin of 2.89%. The firm had revenue of $632.70 million for the quarter, compared to the consensus estimate of $621.35 million. During the same quarter in the prior year, the business earned $3.03 EPS. The business’s revenue for the quarter was down 45.7% compared to the same quarter last year. On average, analysts anticipate that Qorvo, Inc. will post 3.89 EPS for the current year.

Qorvo Profile

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Qorvo, Inc engages in the provision of development and commercialization of technologies and products for wireless and wired connectivity. It operates through the following reportable segments: Mobile Products and Infrastructure & Defense Products. The Mobile Products segment is involved in supplying cellular, UWB, and Wi-Fi solutions for applications, including smartphones, wearables, laptops, tablets, and Internet of things.