2,002 Shares in Qorvo, Inc. (NASDAQ:QRVO) Acquired by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC bought a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,002 shares of the semiconductor company’s stock, valued at approximately $225,000.

A number of other large investors have also bought and sold shares of the business. International Assets Investment Management LLC bought a new position in shares of Qorvo during the 1st quarter worth approximately $40,000. AlphaCrest Capital Management LLC boosted its holdings in shares of Qorvo by 23.2% in the 1st quarter. AlphaCrest Capital Management LLC now owns 3,640 shares of the semiconductor company’s stock valued at $452,000 after buying an additional 685 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Qorvo by 4.9% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,508 shares of the semiconductor company’s stock valued at $1,800,000 after buying an additional 673 shares during the last quarter. Cibc World Market Inc. boosted its holdings in shares of Qorvo by 10.4% in the 1st quarter. Cibc World Market Inc. now owns 8,979 shares of the semiconductor company’s stock valued at $1,114,000 after buying an additional 843 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Qorvo by 18.0% in the 1st quarter. Sei Investments Co. now owns 120,566 shares of the semiconductor company’s stock valued at $15,024,000 after buying an additional 18,397 shares during the last quarter. 88.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

QRVO has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on Qorvo from $95.00 to $105.00 and gave the company an “underweight” rating in a report on Thursday, February 1st. Barclays raised their price target on Qorvo from $95.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, January 16th. Susquehanna reaffirmed a “neutral” rating and set a $100.00 price target on shares of Qorvo in a report on Monday, April 8th. The Goldman Sachs Group raised their price target on Qorvo from $104.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, February 1st. Finally, StockNews.com downgraded Qorvo from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $111.53.

Qorvo Stock Performance

Qorvo stock opened at $110.07 on Tuesday. Qorvo, Inc. has a 12-month low of $80.62 and a 12-month high of $121.65. The company has a current ratio of 1.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.43. The business’s 50-day moving average price is $113.95 and its two-hundred day moving average price is $104.22.

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

Insider Buying and Selling at Qorvo

In other Qorvo news, SVP Steven E. Creviston sold 3,000 shares of the 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 transaction, the senior vice president now directly owns 77,552 shares in the company, valued at approximately $9,306,240. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Steven E. Creviston sold 3,000 shares of Qorvo stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $120.00, for a total value of $360,000.00. Following the completion of the sale, the senior vice president now owns 77,552 shares of the company’s stock, valued at approximately $9,306,240. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Gina Harrison sold 354 shares of Qorvo 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 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. In the last 90 days, insiders sold 6,381 shares of company stock valued at $745,434. 0.43% of the stock is currently owned by company insiders.

Qorvo 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.