UMB Bank n.a. Has $76,000 Stake in Qorvo, Inc. (NASDAQ:QRVO)

UMB Bank n.a. boosted its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 33.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 736 shares of the semiconductor company’s stock after buying an additional 186 shares during the period. UMB Bank n.a.’s holdings in Qorvo were worth $76,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Beacon Financial Group acquired a new position in Qorvo in the fourth quarter valued at about $206,000. Integrated Advisors Network LLC bought a new position in Qorvo during the 4th quarter worth approximately $655,000. Royal London Asset Management Ltd. grew its holdings in Qorvo by 5.1% during the fourth quarter. Royal London Asset Management Ltd. now owns 36,035 shares of the semiconductor company’s stock valued at $4,058,000 after purchasing an additional 1,760 shares during the period. Quadrature Capital Ltd increased its stake in Qorvo by 0.4% in the fourth quarter. Quadrature Capital Ltd now owns 25,092 shares of the semiconductor company’s stock valued at $2,825,000 after purchasing an additional 103 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Qorvo by 12.9% in the first quarter. GAMMA Investing LLC now owns 1,040 shares of the semiconductor company’s stock worth $119,000 after purchasing an additional 119 shares during the period. 88.57% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, VP Gina Harrison sold 689 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the completion of the sale, the vice president now owns 21,601 shares of the company’s stock, valued at approximately $2,325,779.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.46% of the stock is owned by company insiders.

Qorvo Trading Up 0.3 %

Shares of NASDAQ:QRVO opened at $101.83 on Monday. The stock has a market cap of $9.68 billion, a PE ratio of -139.49, a P/E/G ratio of 1.24 and a beta of 1.45. The company has a quick ratio of 1.36, a current ratio of 1.95 and a debt-to-equity ratio of 0.44. Qorvo, Inc. has a 12-month low of $80.62 and a 12-month high of $130.99. The business has a 50 day moving average of $106.30 and a 200-day moving average of $109.03.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.16. Qorvo had a negative net margin of 0.66% and a positive return on equity of 14.92%. The company had revenue of $886.70 million during the quarter, compared to analysts’ expectations of $851.95 million. During the same quarter in the previous year, the business posted $0.03 earnings per share. Qorvo’s quarterly revenue was up 36.2% on a year-over-year basis. As a group, equities research analysts forecast that Qorvo, Inc. will post 4.84 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on QRVO shares. TD Cowen raised Qorvo to a “hold” rating in a research note on Monday, September 16th. Raymond James lifted their price objective on Qorvo from $115.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Susquehanna lowered their target price on Qorvo from $145.00 to $135.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Craig Hallum lifted their price target on shares of Qorvo from $124.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group raised their price objective on shares of Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $122.71.

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.