Qorvo, Inc. (NASDAQ:QRVO) Shares Acquired by Allworth Financial LP

Allworth Financial LP grew its position in Qorvo, Inc. (NASDAQ:QRVO) by 181.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,598 shares of the semiconductor company’s stock after purchasing an additional 1,674 shares during the period. Allworth Financial LP’s holdings in Qorvo were worth $182,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Larson Financial Group LLC grew its holdings in Qorvo by 163.4% during the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 201 shares during the period. Farther Finance Advisors LLC grew its holdings in Qorvo by 33.7% during the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 104 shares during the period. Versant Capital Management Inc grew its holdings in Qorvo by 89.7% during the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 286 shares during the period. CENTRAL TRUST Co grew its holdings in Qorvo by 2,621.4% during the fourth quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 734 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in Qorvo during the third quarter worth about $96,000. 88.57% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Philip Chesley sold 4,045 shares of Qorvo stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $70.15, for a total transaction of $283,756.75. Following the transaction, the senior vice president now owns 30,261 shares in the company, valued at approximately $2,122,809.15. This trade represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.46% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on QRVO shares. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Qorvo in a report on Wednesday, January 29th. UBS Group dropped their target price on Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. dropped their target price on Qorvo from $115.00 to $95.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Raymond James lowered Qorvo from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Finally, Citigroup dropped their price objective on Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a report on Wednesday, January 29th. Three 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $95.84.

Qorvo Stock Performance

NASDAQ QRVO opened at $76.07 on Friday. Qorvo, Inc. has a 1-year low of $64.54 and a 1-year high of $130.99. The company has a market cap of $7.10 billion, a PE ratio of 271.68, a price-to-earnings-growth ratio of 15.57 and a beta of 1.41. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. The stock’s 50 day simple moving average is $76.69 and its 200-day simple moving average is $87.04.

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.