Geneos Wealth Management Inc. Sells 406 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Geneos Wealth Management Inc. reduced its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 23.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,328 shares of the semiconductor company’s stock after selling 406 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Qorvo were worth $93,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Larson Financial Group LLC boosted 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 buying an additional 201 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Qorvo in the 3rd quarter worth $41,000. Versant Capital Management Inc grew its holdings in shares of 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 buying an additional 286 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Qorvo by 33.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 104 shares in the last quarter. Finally, UMB Bank n.a. grew its position in Qorvo by 33.8% in the third quarter. UMB Bank n.a. now owns 736 shares of the semiconductor company’s stock valued at $76,000 after purchasing an additional 186 shares in the last quarter. Institutional investors own 88.57% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on QRVO. Benchmark restated a “hold” rating on shares of Qorvo in a report on Wednesday. TD Cowen lowered their target price on Qorvo from $125.00 to $85.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. The Goldman Sachs Group dropped their price objective on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Mizuho upped their target price on Qorvo from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Finally, Stifel Nicolaus decreased their price target on Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Qorvo currently has a consensus rating of “Hold” and a consensus price target of $95.84.

Insider Transactions at Qorvo

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $70.15, for a total transaction of $283,756.75. Following the completion of the transaction, the senior vice president now owns 30,261 shares in the company, valued at $2,122,809.15. This trade represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is currently owned by company insiders.

Qorvo Trading Down 0.9 %

Shares of Qorvo stock opened at $82.98 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90. The stock has a 50 day moving average price of $74.01 and a two-hundred day moving average price of $91.48. The stock has a market capitalization of $7.84 billion, a PE ratio of 296.36, a price-to-earnings-growth ratio of 6.89 and a beta of 1.40. Qorvo, Inc. has a 52 week low of $64.54 and a 52 week high of $130.99.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.03. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. Qorvo had a return on equity of 12.32% and a net margin of 0.71%. The business’s revenue was down 5.2% compared to the same quarter last year. During the same period last year, the firm posted $1.99 EPS. As a group, equities analysts anticipate that Qorvo, Inc. will post 3.37 earnings per share for the current fiscal year.

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.