3,962 Shares in Qorvo, Inc. (NASDAQ:QRVO) Acquired by Kestra Investment Management LLC

Kestra Investment Management LLC bought a new stake in Qorvo, Inc. (NASDAQ:QRVO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,962 shares of the semiconductor company’s stock, valued at approximately $460,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Mather Group LLC. lifted its stake in shares of Qorvo by 5.6% in the 2nd quarter. Mather Group LLC. now owns 1,812 shares of the semiconductor company’s stock valued at $208,000 after acquiring an additional 96 shares during the last quarter. Quadrature Capital Ltd increased its holdings in Qorvo by 0.4% in the 4th quarter. Quadrature Capital Ltd now owns 25,092 shares of the semiconductor company’s stock worth $2,825,000 after purchasing an additional 103 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Qorvo by 81.0% in the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 115 shares during the last quarter. Empirical Finance LLC boosted its stake in shares of Qorvo by 3.2% during the first quarter. Empirical Finance LLC now owns 3,768 shares of the semiconductor company’s stock valued at $433,000 after purchasing an additional 117 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Qorvo by 12.9% during the first quarter. GAMMA Investing LLC now owns 1,040 shares of the semiconductor company’s stock valued at $119,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 88.57% of the company’s stock.

Analyst Upgrades and Downgrades

QRVO has been the subject of a number of research reports. Rosenblatt Securities raised their price objective on shares of Qorvo from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Susquehanna cut their price target on shares of Qorvo from $145.00 to $135.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Barclays boosted their price objective on shares of Qorvo from $100.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Raymond James increased their target price on shares of Qorvo from $115.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Needham & Company LLC boosted their price target on shares of Qorvo from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $121.00.

Insider Buying and Selling at Qorvo

In other Qorvo news, VP Gina Harrison sold 689 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $107.67, for a total value of $74,184.63. Following the transaction, the vice president now owns 21,601 shares of the company’s stock, valued at $2,325,779.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.46% of the company’s stock.

Qorvo Trading Down 0.3 %

Shares of Qorvo stock opened at $103.30 on Tuesday. The company has a market capitalization of $9.82 billion, a P/E ratio of -141.51, a price-to-earnings-growth ratio of 1.24 and a beta of 1.46. The stock has a fifty day simple moving average of $109.39 and a 200 day simple moving average of $109.78. Qorvo, Inc. has a 12-month low of $80.62 and a 12-month high of $130.99. The company has a current ratio of 1.95, a quick ratio of 1.36 and a debt-to-equity ratio of 0.44.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $886.70 million during the quarter, compared to analyst estimates of $851.95 million. During the same quarter in the prior year, the business posted $0.03 EPS. The business’s revenue was up 36.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Qorvo, Inc. will post 4.84 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.