Wealth Enhancement Advisory Services LLC Boosts Position in Qorvo, Inc. (NASDAQ:QRVO)

Wealth Enhancement Advisory Services LLC boosted its position in Qorvo, Inc. (NASDAQ:QRVO) by 12.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,552 shares of the semiconductor company’s stock after purchasing an additional 501 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Qorvo were worth $470,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Mather Group LLC. increased its holdings in Qorvo by 5.6% during the second quarter. Mather Group LLC. now owns 1,812 shares of the semiconductor company’s stock valued at $208,000 after buying an additional 96 shares during the last quarter. V Square Quantitative Management LLC increased its stake in shares of Qorvo by 5.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company’s stock worth $231,000 after purchasing an additional 107 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Qorvo by 81.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 115 shares during the period. American Trust lifted its position in Qorvo by 5.8% during the second quarter. American Trust now owns 2,110 shares of the semiconductor company’s stock valued at $245,000 after purchasing an additional 115 shares in the last quarter. Finally, Empirical Finance LLC grew its holdings in 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 during the period. 88.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on QRVO. TD Cowen lowered their price objective on Qorvo from $125.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. BNP Paribas downgraded shares of Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price target on the stock. in a report on Wednesday, October 30th. Piper Sandler decreased their price objective on shares of Qorvo from $120.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. UBS Group dropped their target price on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Finally, Morgan Stanley cut Qorvo from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $130.00 to $120.00 in a report on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $104.75.

Insider Buying and Selling

In other news, VP Gina Harrison sold 689 shares of the business’s stock in a transaction 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 sale, the vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is owned by company insiders.

Qorvo Price Performance

QRVO opened at $70.35 on Friday. The firm has a market capitalization of $6.65 billion, a PE ratio of -48.18, a price-to-earnings-growth ratio of 5.84 and a beta of 1.49. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38. The business’s 50-day moving average is $98.21 and its two-hundred day moving average is $105.95. Qorvo, Inc. has a 1 year low of $70.19 and a 1 year high of $130.99.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.03. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm earned $1.99 EPS. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. Research analysts anticipate that Qorvo, Inc. will post 3.37 earnings per share for the current fiscal year.

Qorvo Company Profile

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.