Qorvo, Inc. (NASDAQ:QRVO) Shares Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 245.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,641 shares of the semiconductor company’s stock after acquiring an additional 10,405 shares during the period. Janney Montgomery Scott LLC’s holdings in Qorvo were worth $1,024,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Larson Financial Group LLC boosted its holdings in Qorvo by 163.4% in the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 201 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Qorvo in the 3rd quarter worth about $41,000. Farther Finance Advisors LLC lifted its stake in shares of Qorvo by 33.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 104 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Qorvo by 89.7% during the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 286 shares during the period. Finally, UMB Bank n.a. increased its position in Qorvo by 33.8% during the 3rd quarter. UMB Bank n.a. now owns 736 shares of the semiconductor company’s stock worth $76,000 after purchasing an additional 186 shares in the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of Qorvo stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $70.15, for a total value of $283,756.75. Following the completion of the transaction, the senior vice president now directly owns 30,261 shares in the company, valued at $2,122,809.15. The trade was a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.46% of the stock is currently owned by company insiders.

Analyst Ratings Changes

QRVO has been the topic of a number of research reports. Stifel Nicolaus reduced their target price on shares of Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. Piper Sandler upgraded Qorvo from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $85.00 to $110.00 in a research note on Monday, January 27th. The Goldman Sachs Group decreased their target price on Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Susquehanna reduced their price target on Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Finally, Citigroup decreased their price target on Qorvo from $72.00 to $69.00 and set a “sell” rating for the company in a report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $95.84.

Qorvo Price Performance

Shares of QRVO opened at $82.59 on Thursday. Qorvo, Inc. has a 52 week low of $64.54 and a 52 week high of $130.99. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46. The firm has a market cap of $7.71 billion, a price-to-earnings ratio of 294.96, a PEG ratio of 16.76 and a beta of 1.41. The stock has a 50 day moving average of $74.80 and a 200-day moving average of $90.35.

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.