Cetera Investment Advisers Sells 530 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Cetera Investment Advisers lowered its position in Qorvo, Inc. (NASDAQ:QRVO) by 5.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,424 shares of the semiconductor company’s stock after selling 530 shares during the period. Cetera Investment Advisers’ holdings in Qorvo were worth $978,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in QRVO. Mather Group LLC. increased its position in Qorvo by 5.6% in the second quarter. Mather Group LLC. now owns 1,812 shares of the semiconductor company’s stock worth $208,000 after buying an additional 96 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Qorvo by 81.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 115 shares during the last quarter. Empirical Finance LLC lifted its stake in shares of Qorvo by 3.2% in the 1st quarter. Empirical Finance LLC now owns 3,768 shares of the semiconductor company’s stock valued at $433,000 after acquiring an additional 117 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Qorvo by 12.9% in the 1st quarter. GAMMA Investing LLC now owns 1,040 shares of the semiconductor company’s stock valued at $119,000 after acquiring an additional 119 shares during the last quarter. Finally, William Blair Investment Management LLC lifted its stake in shares of Qorvo by 6.5% in the 1st quarter. William Blair Investment Management LLC now owns 2,239 shares of the semiconductor company’s stock valued at $257,000 after acquiring an additional 136 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Qorvo Stock Up 0.3 %

Shares of NASDAQ QRVO opened at $104.28 on Friday. The company has a market cap of $9.91 billion, a P/E ratio of -142.85, a PEG ratio of 1.24 and a beta of 1.45. The firm has a 50-day simple moving average of $106.32 and a two-hundred day simple moving average of $108.81. Qorvo, Inc. has a 1 year low of $80.62 and a 1 year high of $130.99. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.95 and a quick ratio of 1.36.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, beating 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 company had revenue of $886.70 million for the quarter, compared to analyst estimates of $851.95 million. During the same period last year, the company posted $0.03 earnings per share. Qorvo’s revenue was up 36.2% compared to the same quarter last year. Research analysts anticipate that Qorvo, Inc. will post 4.84 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Gina Harrison sold 689 shares of the business’s stock in a transaction dated 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 $2,325,779.67. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on QRVO. TD Cowen upgraded Qorvo to a “hold” rating in a report on Monday, September 16th. Craig Hallum boosted their price target on Qorvo from $124.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com downgraded Qorvo from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Needham & Company LLC boosted their price target on Qorvo from $110.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their target price on Qorvo from $100.00 to $115.00 and gave the stock an “underweight” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.