Raymond James & Associates Trims Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Raymond James & Associates decreased its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 4.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 49,783 shares of the semiconductor company’s stock after selling 2,232 shares during the period. Raymond James & Associates owned 0.05% of Qorvo worth $5,606,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC boosted its position in shares of Qorvo by 298.9% in the fourth 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 during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in Qorvo by 4.9% in 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 period. Jackson Creek Investment Advisors LLC purchased a new position in shares of Qorvo during the 3rd quarter valued at $389,000. FMR LLC increased its holdings in shares of Qorvo by 7.6% in the third 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 during the period. Finally, Dark Forest Capital Management LP purchased a new stake in shares of Qorvo in the third quarter worth $552,000. Institutional investors own 88.57% of the company’s stock.

Insider Buying and Selling at Qorvo

In related 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 value of $40,356.00. Following the sale, the vice president now directly owns 18,442 shares of the company’s stock, valued at $2,102,388. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Steven E. Creviston sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the transaction, the senior vice president now owns 77,552 shares in the company, valued at $9,306,240. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Gina Harrison sold 354 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was 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 directly owns 18,442 shares of the company’s stock, valued at approximately $2,102,388. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,381 shares of company stock worth $745,434. 0.43% of the stock is currently owned by company insiders.

Qorvo Price Performance

Shares of Qorvo stock opened at $116.49 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.90 and a quick ratio of 1.33. Qorvo, Inc. has a one year low of $80.62 and a one year high of $121.65. The business’s 50 day simple moving average is $113.26 and its two-hundred day simple moving average is $103.73. The stock has a market capitalization of $11.25 billion, a P/E ratio of -54.18, a price-to-earnings-growth ratio of 0.88 and a beta of 1.56.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Susquehanna restated a “neutral” rating and issued a $100.00 target price on shares of Qorvo in a research note on Monday. StockNews.com lowered shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Piper Sandler cut their price target on shares of Qorvo from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, February 1st. Barclays raised their price objective on shares of Qorvo from $95.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Finally, The Goldman Sachs Group upped their target price on shares of Qorvo from $104.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $111.53.

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.