Schechter Investment Advisors LLC Invests $233,000 in Qorvo, Inc. (NASDAQ:QRVO)

Schechter Investment Advisors LLC acquired a new position in shares of Qorvo, Inc. (NASDAQ:QRVOFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,072 shares of the semiconductor company’s stock, valued at approximately $233,000.

A number of other large investors have also modified their holdings of the stock. Barclays PLC increased its holdings in Qorvo by 646.2% in the third quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company’s stock valued at $369,091,000 after buying an additional 3,347,972 shares during the last quarter. Norges Bank purchased a new position in Qorvo in the fourth quarter valued at $101,478,000. UBS Group AG increased its holdings in Qorvo by 491.9% in the third quarter. UBS Group AG now owns 1,267,273 shares of the semiconductor company’s stock valued at $120,987,000 after buying an additional 1,053,157 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Qorvo by 142.1% in the first quarter. JPMorgan Chase & Co. now owns 1,271,221 shares of the semiconductor company’s stock valued at $129,119,000 after buying an additional 746,216 shares during the last quarter. Finally, Baupost Group LLC MA increased its holdings in 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 buying an additional 699,968 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Insider Activity at Qorvo

In related news, VP Gina Harrison sold 354 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $40,356.00. Following the completion of the sale, the vice president now owns 18,442 shares in the company, valued at $2,102,388. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Qorvo news, SVP Steven E. Creviston sold 3,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $120.00, for a total value of $360,000.00. Following the completion of the transaction, the senior vice president now directly owns 77,552 shares of the company’s stock, valued at $9,306,240. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Gina Harrison sold 354 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $40,356.00. Following the completion of the transaction, the vice president now directly owns 18,442 shares of the company’s stock, valued at $2,102,388. 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 90 days. Company insiders own 0.43% of the company’s stock.

Qorvo Price Performance

Shares of NASDAQ:QRVO opened at $114.83 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.90 and a debt-to-equity ratio of 0.43. The company has a market cap of $11.09 billion, a P/E ratio of -53.41, a PEG ratio of 1.19 and a beta of 1.56. Qorvo, Inc. has a 52 week low of $80.62 and a 52 week high of $121.65. The company has a 50-day moving average price of $111.92 and a 200 day moving average price of $102.73.

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

Analyst Ratings Changes

QRVO has been the topic of several research reports. Craig Hallum raised their price objective on Qorvo from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Barclays raised 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. Piper Sandler dropped their price objective on Qorvo from $120.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, February 1st. Morgan Stanley raised Qorvo from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $120.00 to $134.00 in a report on Friday, December 8th. Finally, Raymond James raised their price objective on Qorvo from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $111.17.

View Our Latest Stock Analysis on Qorvo

Qorvo Profile

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

Receive News & Ratings for Qorvo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qorvo and related companies with MarketBeat.com's FREE daily email newsletter.