Qorvo, Inc. (NASDAQ:QRVO) Shares Acquired by Stifel Financial Corp

Stifel Financial Corp boosted its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 11.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,649 shares of the semiconductor company’s stock after acquiring an additional 807 shares during the period. Stifel Financial Corp’s holdings in Qorvo were worth $790,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in Qorvo by 5.4% during the second quarter. Bank of New York Mellon Corp now owns 691,229 shares of the semiconductor company’s stock worth $80,210,000 after buying an additional 35,232 shares during the period. State of Michigan Retirement System boosted its holdings in Qorvo by 0.6% during the 2nd quarter. State of Michigan Retirement System now owns 32,619 shares of the semiconductor company’s stock valued at $3,785,000 after acquiring an additional 200 shares during the period. Allspring Global Investments Holdings LLC grew its position in Qorvo by 549.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 61,650 shares of the semiconductor company’s stock valued at $7,154,000 after acquiring an additional 52,159 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Qorvo during the second quarter worth about $88,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Qorvo by 291.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 92,996 shares of the semiconductor company’s stock valued at $10,791,000 after purchasing an additional 69,235 shares during the period. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Qorvo

In related news, SVP Philip Chesley sold 4,045 shares of Qorvo stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $70.15, for a total transaction of $283,756.75. Following the transaction, the senior vice president now directly owns 30,261 shares of the company’s stock, valued at $2,122,809.15. The trade was a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by company insiders.

Analysts Set New Price Targets

QRVO has been the subject of several recent research reports. BNP Paribas cut shares of Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price target for the company. in a research report on Wednesday, October 30th. Piper Sandler cut their price target on Qorvo from $120.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. TD Cowen reduced their price target on Qorvo from $125.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Raymond James downgraded Qorvo from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC assumed coverage on shares of Qorvo in a report on Monday, October 28th. They issued a “buy” rating and a $135.00 target price on the stock. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $102.88.

Qorvo Trading Down 0.1 %

Shares of QRVO opened at $71.50 on Wednesday. Qorvo, Inc. has a one year low of $64.54 and a one year high of $130.99. The stock has a 50-day moving average price of $75.79 and a 200 day moving average price of $98.68. 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 company has a market capitalization of $6.76 billion, a P/E ratio of -48.97, a P/E/G ratio of 5.58 and a beta of 1.42.

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

Qorvo 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.