Empowered Funds LLC Raises Position in Qorvo, Inc. (NASDAQ:QRVO)

Empowered Funds LLC increased its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 64.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,727 shares of the semiconductor company’s stock after purchasing an additional 7,340 shares during the period. Empowered Funds LLC’s holdings in Qorvo were worth $1,310,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its stake in shares of Qorvo by 163.4% during the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock worth $33,000 after buying an additional 201 shares in the last quarter. Versant Capital Management Inc grew its holdings in Qorvo by 89.7% during the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 286 shares during the period. Farther Finance Advisors LLC raised its position in Qorvo by 33.7% in the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 104 shares in the last quarter. CENTRAL TRUST Co lifted its holdings in Qorvo by 2,621.4% in the fourth quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 734 shares during the period. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Qorvo during the 4th quarter worth $70,000. 88.57% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Philip Chesley sold 4,045 shares of the business’s stock in a transaction that occurred on 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 approximately $2,122,809.15. The trade was a 11.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on QRVO shares. Craig Hallum cut their price target on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. reduced their price target on shares of Qorvo from $115.00 to $95.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Qorvo in a report on Wednesday, January 29th. TD Cowen reduced their price objective on Qorvo from $125.00 to $85.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Finally, BNP Paribas downgraded Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 target price on the stock. in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $95.84.

Qorvo Price Performance

Shares of Qorvo stock opened at $76.16 on Monday. The business’s fifty day moving average price is $75.90 and its 200 day moving average price is $87.94. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month 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 stock has a market capitalization of $7.11 billion, a P/E ratio of 272.00, a PEG ratio of 15.93 and a beta of 1.41.

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.