Qorvo, Inc. (NASDAQ:QRVO) Shares Bought by Creative Planning

Creative Planning raised its stake in Qorvo, Inc. (NASDAQ:QRVO) by 14.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 11,151 shares of the semiconductor company’s stock after purchasing an additional 1,400 shares during the period. Creative Planning’s holdings in Qorvo were worth $1,152,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Mather Group LLC. raised its stake in Qorvo by 5.6% during the second quarter. Mather Group LLC. now owns 1,812 shares of the semiconductor company’s stock worth $208,000 after acquiring an additional 96 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Qorvo by 81.0% in the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 115 shares in the last quarter. American Trust raised its holdings in shares of Qorvo by 5.8% during the second quarter. American Trust now owns 2,110 shares of the semiconductor company’s stock worth $245,000 after acquiring an additional 115 shares in the last quarter. Empirical Finance LLC grew 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 buying an additional 117 shares in the last quarter. Finally, William Blair Investment Management LLC raised its holdings in shares of Qorvo by 6.5% during the 1st quarter. William Blair Investment Management LLC now owns 2,239 shares of the semiconductor company’s stock valued at $257,000 after purchasing an additional 136 shares in the last quarter. Institutional investors own 88.57% of the company’s stock.

Insider Activity

In other Qorvo news, VP Gina Harrison sold 689 shares of Qorvo 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 completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is owned by insiders.

Qorvo Trading Down 2.4 %

Shares of NASDAQ:QRVO opened at $71.26 on Friday. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of -97.62, a PEG ratio of 1.20 and a beta of 1.45. The company’s fifty day simple moving average is $104.06 and its 200 day simple moving average is $107.74. Qorvo, Inc. has a 12 month low of $70.39 and a 12 month high of $130.99. The company has a quick ratio of 1.36, a current ratio of 1.95 and a debt-to-equity ratio of 0.44.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data 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 negative net margin of 0.66% and a positive return on equity of 14.92%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the business posted $1.99 EPS. The company’s quarterly revenue was down 5.2% on a year-over-year basis. As a group, research analysts forecast that Qorvo, Inc. will post 4.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on QRVO. Bank of America reduced their price objective on shares of Qorvo from $115.00 to $80.00 and set an “underperform” rating for the company in a research note on Wednesday. Susquehanna cut their price target on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday. BNP Paribas downgraded shares of Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price target for the company. in a report on Wednesday. Raymond James cut Qorvo from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, Morgan Stanley lowered Qorvo from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $130.00 to $120.00 in a research note on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Qorvo has a consensus rating of “Hold” and an average target price of $104.47.

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.