Truist Financial Corp Has $6.72 Million Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

Truist Financial Corp reduced its position in Qorvo, Inc. (NASDAQ:QRVO) by 3.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 59,711 shares of the semiconductor company’s stock after selling 2,219 shares during the period. Truist Financial Corp owned 0.06% of Qorvo worth $6,724,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Highland Capital Management LLC increased its stake in shares of Qorvo by 48.9% in the 4th quarter. Highland Capital Management LLC now owns 42,790 shares of the semiconductor company’s stock valued at $4,819,000 after buying an additional 14,060 shares during the period. SG Americas Securities LLC increased its stake in shares of Qorvo by 298.9% in the 4th quarter. SG Americas Securities LLC now owns 17,803 shares of the semiconductor company’s stock valued at $2,005,000 after buying an additional 13,340 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in shares of 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 buying an additional 394 shares during the period. Jackson Creek Investment Advisors LLC bought a new position in shares of Qorvo in the 3rd quarter worth $389,000. Finally, FMR LLC boosted its position in shares of Qorvo by 7.6% in the 3rd 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 last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on QRVO. Raymond James raised their price target on Qorvo from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Benchmark reduced their price target on Qorvo from $136.00 to $128.00 and set a “buy” rating on the stock in a research report on Thursday. Barclays reduced their price target on Qorvo from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Thursday. StockNews.com upgraded Qorvo from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Rosenblatt Securities lifted their target price on Qorvo from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $110.83.

Qorvo Stock Performance

QRVO opened at $95.95 on Friday. The business’s 50-day moving average price is $113.15 and its two-hundred day moving average price is $105.59. Qorvo, Inc. has a 1 year low of $80.62 and a 1 year high of $121.65. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.99 and a quick ratio of 1.33.

Qorvo (NASDAQ:QRVO) last released its earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. The business had revenue of $941.00 million for the quarter, compared to the consensus estimate of $927.24 million. Qorvo had a positive return on equity of 13.43% and a negative net margin of 1.86%. Qorvo’s quarterly revenue was up 48.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 earnings per share. On average, equities research analysts anticipate that Qorvo, Inc. will post 6.69 earnings per share for the current year.

Insider Activity at Qorvo

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 sale, the senior vice president now owns 77,552 shares of the company’s stock, valued at $9,306,240. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Qorvo news, SVP Steven E. Creviston sold 3,000 shares of the business’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 transaction, the senior vice president now owns 77,552 shares of the company’s stock, valued at $9,306,240. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Paul J. Fego sold 3,027 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $345,078.00. Following the transaction, the senior vice president now directly owns 29,705 shares in the company, valued at approximately $3,386,370. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,381 shares of company stock valued at $745,434. 0.43% of the stock is owned by insiders.

Qorvo Company 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.