Sequoia Financial Advisors LLC Invests $317,000 in Qorvo, Inc. (NASDAQ:QRVO)

Sequoia Financial Advisors LLC acquired a new position in Qorvo, Inc. (NASDAQ:QRVO) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,818 shares of the semiconductor company’s stock, valued at approximately $317,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust raised its stake in shares of Qorvo by 106.4% in the first quarter. Parkside Financial Bank & Trust now owns 225 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 116 shares during the last quarter. Resurgent Financial Advisors LLC purchased a new stake in shares of Qorvo during the fourth quarter valued at approximately $34,000. Zions Bancorporation N.A. increased its position in shares of Qorvo by 3,833.3% during the first quarter. Zions Bancorporation N.A. now owns 472 shares of the semiconductor company’s stock valued at $59,000 after acquiring an additional 460 shares during the last quarter. RVW Wealth LLC purchased a new stake in shares of Qorvo during the third quarter valued at approximately $53,000. Finally, Huntington National Bank increased its position in shares of Qorvo by 8,090.0% during the third quarter. Huntington National Bank now owns 819 shares of the semiconductor company’s stock valued at $78,000 after acquiring an additional 809 shares during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Qorvo

In related news, SVP Paul J. Fego sold 3,027 shares of Qorvo stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $345,078.00. Following the completion of the sale, the senior vice president now owns 29,705 shares of the company’s stock, valued at $3,386,370. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Paul J. Fego sold 3,027 shares of Qorvo stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $345,078.00. Following the completion of the sale, the senior vice president now owns 29,705 shares of the company’s stock, valued at $3,386,370. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Gina Harrison sold 354 shares of Qorvo stock in a transaction on Thursday, February 15th. The shares were 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 approximately $2,102,388. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,381 shares of company stock valued at $745,434. Company insiders own 0.43% of the company’s stock.

Qorvo Price Performance

Qorvo stock opened at $107.84 on Friday. Qorvo, Inc. has a one year low of $80.62 and a one year high of $121.65. The business has a fifty day moving average price of $113.89 and a 200-day moving average price of $104.39. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.90 and a quick ratio of 1.33. The firm has a market capitalization of $10.41 billion, a P/E ratio of -50.16, a PEG ratio of 0.85 and a beta of 1.56.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1 billion. As a group, equities research analysts forecast that Qorvo, Inc. will post 4.95 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on QRVO shares. StockNews.com downgraded Qorvo from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $125.00 price target on shares of Qorvo in a research report on Thursday, February 1st. Susquehanna reaffirmed a “neutral” rating and set a $100.00 price target on shares of Qorvo in a research report on Monday, April 8th. Raymond James increased their price target on Qorvo from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Finally, JPMorgan Chase & Co. increased their price target on Qorvo from $95.00 to $105.00 and gave the company an “underweight” rating in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Qorvo currently has a consensus rating of “Hold” and a consensus price target 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.