Qorvo, Inc. (NASDAQ:QRVO) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 50.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,844 shares of the semiconductor company’s stock after buying an additional 2,292 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Qorvo were worth $479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Alexander Randolph Advisory Inc. raised its position in shares of Qorvo by 1.0% during the 4th quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company’s stock worth $950,000 after acquiring an additional 140 shares in the last quarter. Huntington National Bank increased its stake in Qorvo by 47.1% in the fourth quarter. Huntington National Bank now owns 453 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 145 shares during the last quarter. Truvestments Capital LLC raised its holdings in Qorvo by 7.2% during the fourth quarter. Truvestments Capital LLC now owns 2,768 shares of the semiconductor company’s stock worth $194,000 after purchasing an additional 185 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Qorvo by 67.4% during the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company’s stock worth $43,000 after buying an additional 250 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Qorvo by 1.2% during the 4th quarter. Arizona State Retirement System now owns 27,541 shares of the semiconductor company’s stock worth $1,926,000 after buying an additional 315 shares during the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Qorvo Stock Down 1.1%

Qorvo stock opened at $81.76 on Friday. The stock has a 50 day moving average of $70.12 and a two-hundred day moving average of $72.50. Qorvo, Inc. has a twelve month low of $49.46 and a twelve month high of $130.99. The stock has a market capitalization of $7.61 billion, a price-to-earnings ratio of 292.00, a PEG ratio of 15.57 and a beta of 1.37. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.42. Qorvo had a return on equity of 12.41% and a net margin of 0.71%. The firm had revenue of $869.47 million during the quarter, compared to the consensus estimate of $850.13 million. During the same period last year, the company earned $1.39 earnings per share. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. As a group, research analysts expect that Qorvo, Inc. will post 4.09 earnings per share for the current year.

Analyst Ratings Changes

QRVO has been the topic of a number of recent analyst reports. Loop Capital dropped their target price on shares of Qorvo from $90.00 to $75.00 and set a “hold” rating on the stock in a research report on Wednesday, April 30th. TD Cowen decreased their price objective on shares of Qorvo from $90.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, April 30th. Stifel Nicolaus set a $75.00 price objective on Qorvo in a report on Monday, April 28th. Citigroup reiterated a “sell” rating on shares of Qorvo in a research report on Tuesday. Finally, Wall Street Zen downgraded Qorvo from a “buy” rating to a “hold” rating in a report on Saturday, June 7th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $91.21.

Insiders Place Their Bets

In other news, Director John R. Harding sold 1,450 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total transaction of $101,630.50. Following the transaction, the director now directly owns 7,597 shares in the company, valued at $532,473.73. The trade was a 16.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.46% of the stock is owned by 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.